9261 - Administration of Economic Programs
When navigating the intricate world of government contracting and economic development, understanding the NAICS codes is essential. NAICS code 9261, titled Administration of Economic Programs, plays a pivotal role in public administration by overseeing programs that foster economic stability and growth. This blog post dives deep into what NAICS 9261 entails, its significance, typical business types, size standards, and more.
What is NAICS Code 9261?
NAICS 9261 represents government establishments primarily engaged in administering and managing economic programs. These programs span a wide range of activities, including:
- Economic development initiatives
- Trade regulation and promotion
- Financial assistance and support programs
Agencies under this code are responsible for implementing policies and delivering services that bolster economic growth and sustainability across various regions and industries.
Sector Overview: Public Administration
NAICS 9261 falls within the Public Administration sector, which covers government functions related to regulation, administration, and enforcement of economic programs. This sector is critical for shaping economic policies, ensuring compliance, and facilitating resources that help businesses and communities thrive.
Typical Business Activities Under NAICS 9261
Businesses and agencies categorized under NAICS code 9261 are involved in a variety of economic program management activities, such as:
- Operating economic development agencies that plan and promote regional or national economic growth
- Managing trade regulation offices that oversee trade policies, export/import controls, and market access
- Administering financial assistance programs, including grants, loans, and subsidies designed to stimulate business investment and job creation
Size Standards for NAICS 9261 Eligibility
Size standards for businesses or organizations under NAICS 9261 vary depending on specific contract opportunities and government regulations. Typically, small business size standards are determined by:
- Number of employees (varies by agency)
- Annual receipts or revenue thresholds
For precise eligibility criteria, it’s essential to refer to the U.S. Small Business Administration (SBA) guidelines related to public administration and economic program contracts.
Examples of Businesses and Agencies Under NAICS 9261
- State economic development corporations
- Local trade promotion boards
- Federal financial assistance administrators (e.g., Small Business Development Centers)
- Regional commerce and investment authorities
These entities work collectively to implement policies, facilitate economic opportunity, and ensure the smooth administration of economic aid and regulatory programs.
NAICS Code 9261 Details Table
| NAICS Code | Title | Sector | Description | Typical Businesses / Activities |
|---|---|---|---|---|
| 9261 | Administration of Economic Programs | Public Administration | Establishments administering and overseeing economic development, trade, and financial assistance programs | Economic development agencies, Trade regulation offices, Financial assistance program administrators |
Frequently Asked Questions (FAQ) about NAICS Code 9261
Q1: What kinds of contracts are associated with NAICS 9261?
A1: Contracts typically involve economic program management, policy implementation, trade facilitation, financial grant management, and related public administration services.
Q2: Is NAICS 9261 limited only to federal agencies?
A2: No. While many federal entities fall under this code, state and local government agencies involved in economic program administration are also classified here.
Q3: How can a business qualify under this NAICS code?
A3: Businesses usually need capabilities to manage economic programs or provide consulting services supporting economic development, trade regulation, or financial assistance processes, aligned with SBA size standards.
Q4: Why is NAICS 9261 important for government contractors?
A4: Understanding this NAICS code helps contractors identify relevant economic program contracts, align their services, and comply with government procurement requirements in the public administration sector.
Conclusion
NAICS code 9261: Administration of Economic Programs covers essential government functions that support economic vitality through policy administration, trade regulation, and financial assistance. Whether you're a government agency, contractor, or consultant, understanding the scope and particulars of this NAICS code can unlock strategic opportunities within the public administration landscape.
Stay informed and leverage this knowledge to navigate the economic program sector effectively and contribute to sustained economic growth and stability.
