Thursday, August 4, 2016
Once again participation in a U.S. Department of Transportation/SFAA Bonding Education Program (BEP) has opened the door for significant growth and opportunity. For over 24 years, Onyx Enterprise, Inc. as offered engineering consulting, project management and construction management services to businesses in the Detroit metropolitan area.
Its founder, Tarolyn Buckles, created the 8(a) Certified Small Business and DBE in hopes of cultivating and sustaining communities. Since its inception, the organization has served clients from all levels of government, independent engineering firms and contractors.
In the past two years especially, Onyx Enterprise has experienced tremendous growth. In 2014 the
firm’s revenue increased by 50% and in 2015, it increased by 60% while its number of employees doubled from two to four.
The organization’s notable advancement came after its participation in the Detroit BEP, which was held in conjunction with the Goldman Sach’s 10,000 Small Businesses program. The BEP teaches businesses how to use surety bonds to participate in federal projects. As a result of taking part in the program, the firm was able to secure a $50,000 line of credit with Chase Bank and a $350,000 bond. The organization’s project-base has also increased in size and scope.
Onyx Enterprise was recently awarded $137,000 for its latest venture, the Detroit M-1 Rail Project which will provide underground utility inspection services. Another one of the firm’s ongoing projects is the Michigan Department of Transportation’s $1 billion plus I-94 Bridge Design Project in which it has been contracted to produce a municipal utility design for the Cadillac Bridge in Michigan.
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