The Office of Management and Budget has released the new agency priority goals of major federal agencies to mark the first quarterly update to the fiscal year 2024-2025 performance period.
The Small Business Administration is working to further promote equity across its services and products, according to a blog post published Tuesday on Performance.gov.
To achieve the goal, SBA plans to evaluate programs and processes, expand services to underserved markets, embed equity principles into its programs and advance evidence-building activities and performance measures by the end of September 2025.
SBA’s key goals include raising federal contracting awards to small disadvantaged businesses to 15 percent, increasing the loan portfolio of the Community Advantage Small Business Lending Company program by 10 percent and boosting the number of underserved small companies supported by the agency’s Entrepreneurial Development Programs by 10 percent.
The Department of Commerce intends to further develop domestic capacity for semiconductor manufacturing by Sept. 30, 2025.
The department set two strategies to achieve this goal: incentivizing the development of semiconductor facilities and upstream suppliers, including at least two clusters focused on fabricating leading-edge logic chips, and building research and development capacity through the creation of a public-private consortium and operator and initial implementation of metrology, advanced packaging and semiconductor manufacturing programs.
