The U.S. Small Business Administration (SBA) issued two final rules in the Federal Register yesterday, revising size standards for firms in two North American Industry Classification System (NAICS) sectors, namely, Utilities (Sector 22) and Construction (Sector 23).
Size standards define the maximum size a firm can be and still be considered a small business. The revised standards reflect changes in marketplace conditions and public comments that SBA received to its earlier proposed rules.
The SBA increased two size standards in Sector 23 (Construction) and retained the current size standards for the remaining industries in the sector.
Specifically, SBA increased the size standards from $7 million to $25 million for firms in the Land Subdivision industry, and from $20 million to $25.5 million for businesses engaged in Dredging and Surface Cleanup activities, which is an “exception” to the size standard for NAICS 237990, Other Heavy and Civil Engineering Construction.
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Press Release, December 24, 2013