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Maryland DOT raises MBE net worth cap

The Maryland Department of Transportation (MDOT), through their Office of Minority Business Enterprise (OMBE), announced earlier that they were raising the net worth cap for participation in the state's Minority Business Enterprise (MBE) program. The change will be effective on January 21, 2021.

The program, which is open to "small, minority- and women-owned firms", previously had a net worth cap for owners of $1,771,564. The new cap will be $1,788,677. The change is in large part due to MDOT's responsibility by law to adjust the personal net worth cap according to the Consumer Price Index. The personal net worth cap for the federal Disadvantaged Business Enterprise (DBE) program is not affected by the change and remains set at $1,320,000.

View the state's pages for the MBE program at https://www.mdot.maryland.gov/tso/pages/index.aspx?pageid=90 or at https://gomdsmallbiz.maryland.gov/Pages/mbe-Program.aspx.