Business
Oakland Coliseum Project Opens Door for Small Businesses to Build Bigger
During a recent meeting with AASEG, Loop Capital and local construction and business leaders, participants discussed creating pathways that would allow smaller firms to move beyond traditional subcontracting roles, compete as prime contractors, secure larger portions of project work and ultimately become permanent fixtures within the new development.
As plans for the redevelopment of the Oakland Coliseum move forward, a key question is emerging alongside the vision for new buildings, entertainment, and economic activity: Who will have the opportunity to build it?
For the African American Sports & Entertainment Group (AASEG) and its financial partner Loop Capital, the answer could include a much larger role for Oakland’s small, minority-, and women-owned businesses.
During a recent meeting with AASEG, Loop Capital and local construction and business leaders, participants discussed creating pathways that would allow smaller firms to move beyond traditional subcontracting roles, compete as prime contractors, secure larger portions of project work and ultimately become permanent fixtures within the new development.
Unlike many major developments where contracting discussions begin after large construction packages have already been established, the Coliseum conversation is engaging the community early in the process.
“We have an opportunity to start building capacity now, not after the contracts hit the street,” said Len Turner of the Construction Resource Center. “If we know what the opportunities are going to be, we can identify businesses, understand where their gaps are and start preparing them to successfully compete and perform.”
Preparing companies to compete for larger contracts could include assistance with estimating, bonding, financing, workforce development, project management and contract administration.
For some firms, the goal could be moving from a $500,000 subcontract to a multimillion-dollar prime contract. For others, success could mean transitioning from providing construction services to operating restaurants, retail businesses, or other enterprises within the completed Coliseum development.
Turner said the long-term measure of inclusion should extend beyond the number of businesses that receive contracts.
“The real measure of success will be whether these businesses are stronger and more capable when this project is finished than when they started,” Turner said.
That philosophy reflects a broader effort to address systemic disparities in public and private contracting. Oakland’s small and minority-owned businesses have historically faced barriers to capital access, bonding, and limited access to larger contracts.
Mario Wagner of the National Association of Minority Contractors Northern California Chapter
said the Coliseum redevelopment offers an opportunity to change that trajectory.
Turner and Wagner are also members of a coalition of businesses led by Oakland African American Chamber of Commerce CEO Cathy Adams, which is soon presenting plans to the City of Oakland that could also help lift minority and women-owned firms.
“NAMC was born in Oakland fighting for minority contractors to have access,” Wagner said. “This cannot just be about checking a box. We want to see subcontractors become primes, small businesses become larger businesses and opportunities created that build generational wealth long after the construction is complete.”
For James “Jim” Reynolds, Jr., president of Loop Capital, the potential to uplift local contractors and transform the area is part of his plans.
“When I met Ray and saw his commitment to the community, I knew this project would be a part of his legacy,” said Reynolds. “When people of the community ask about opportunities, I know we will deliver opportunities to contractors and businesses for the long term.”
AASEG and Loop Capital project 17,000 jobs will be generated.
“We have a unique opportunity to not just develop the area, but change lives in Oakland,” said AASEG President Ray Bobbitt.
As AASEG and Loop Capital successfully pair development with business growth, the impact could extend far beyond temporary construction jobs.
“The ultimate legacy could include Oakland companies that entered the project as small subcontractors, grew into prime contractors and remained at the Coliseum as permanent vendors, operators and business owners,” said Post News Group Publisher Paul Cobb.
In that scenario, redevelopment would not simply transform the property but realign who gets to own a piece of Oakland’s next economic chapter.
