SBA increases small business size standards for NAICS Sector 31-33, Manufacturing

The Small Business Administration (SBA) has issued a final rule that increases the small business size standards for 209 industries within the Manufacturing sector classified under NAICS codes 31-33. This adjustment aims to better reflect current industry conditions and will result in approximately 1,250 additional firms qualifying as small businesses. Notably, the size standard for NAICS 324110, Petroleum Refiners, has been modified by raising the refining capacity threshold to 200,000 barrels per calendar day for businesses primarily engaged in petroleum refining. Additionally, the previous requirement mandating that 90 percent of the output be refined from crude oil or bona fide feedstocks by the successful bidder has been removed. Furthermore, footnote 5 related to NAICS 326211 has been updated to correspond with current Census Product Classification Codes 3262111 and 3262113. These revised size standards became effective as of February 26, 2016. Interested parties can access the final rule, along with the originally proposed rule and accompanying comments, through Regulations.gov. For further inquiries, Carl J Jordan serves as the point of contact and can be reached via email or phone.