BP Oil Spill Fuels Government Contracting
NEW YORK (TheStreet) -- The BP (BP) oil spill last year took its toll on small businesses along the Gulf Coast, but the federal government is also looking to increase contracting opportunities that could balance out the damage to some.
Exactly one year ago, the Deepwater Horizon oil rig used by BP exploded in the Gulf of Mexico, ultimately leaking some 5 billion barrels of oil into the surrounding waters, harming the ecosystem and the businesses and residents making their living off the waters.
|The befouling of the Gulf Coast by last year's BP oil spill opened opportunities for small businesses to contract with the U.S. government.|
According to the Small Business Administration, the disaster was a good reason to remind local businesses of the large amount of government contracting work in Mississippi, Louisiana and Alabama.
The BP disaster was an "opportunity to [offer] federal contracting as a revenue source for the businesses affected -- and not just what came out of the spill, but the billions of contracting that comes out of the Gulf" through NASA, the U.S. Army Corps and even from 2005's Hurricane Katrina, for instance, says Joe Jordan, SBA's administrator of government contracting and senior adviser for the Gulf Recovery Act.The funds are in addition to direct business disaster loans.
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