Hoboken, NJ –Stevens Alum, Odilo Vazquez, president and managing partner of F3 Engineering, was recently honored by the Small Business Administration (SBA) with the U.S. Small Business Administration’s 2011 New Jersey Minority Small Business Person of the Year award.
The ceremony, which took place at F3’s headquarters in Paterson, marked the celebration of the 29th Annual National Minority Enterprise Development (MED) Week.
F3 Engineering was chosen for the award based on criteria that include the company’s Overall Financial Strength, Growth in Sales and Profits, Growth in Number of Employees, and Participation in Community and Charitable Events.
“Innovation and creativity are what continue to drive me. It’s exciting for me to come to work every day and to create solutions for our customers,” stated Vazquez when accepting his award. “I think it is very important for our customers to know that we are not a one-dimensional company and that we have the capabilities and expertise to do custom design work. The goal has always been to grow and develop this company into a $20 million business.”
Another important part of the company’s success is its participation in SBA’s 8(a) program. Under the program, minority-owned and disadvantaged businesses are eligible to receive sole-source contracts from federal government agencies for up to $4.5 million for services and $5.5 million for manufactured goods. Today, F3 Engineering has 45 employees with sales in excess of $10 million.
Vazquez, who received his BE in Mechanical Engineering from Stevens, also recognized his employees stating, “It is because of every person in this room doing what they do every day that I can stand before you and accept this honor. This award is as much theirs and it is mine.”
About Stevens Institute of Technology
Founded in 1870, Stevens Institute of Technology, The Innovation University™, lives at the intersection of industry, academics and research. The University's students, faculty and partners leverage their collective real-world experience and culture of innovation, research and entrepreneurship to confront global challenges in engineering, science, systems and technology management.
Based in Hoboken, N.J. and with a location in Washington, D.C., Stevens offers baccalaureate, master’s, certificates and doctoral degrees in engineering, the sciences and management, in addition to baccalaureate degrees in business and liberal arts. Stevens has been recognized by both the US Department of Defense and the Department of Homeland Security as a National Center of Excellence in the areas of systems engineering and port security research. The University has a total enrollment of more than 2,350 undergraduate and 3,600 graduate students with almost 450 faculty. Stevens’ graduate programs have attracted international participation from China, India, Southeast Asia, Europe and Latin America as well as strategic partnerships with industry leaders, governments and other universities around the world. Additional information may be obtained at www.stevens.edu and www.stevens.edu/news.
About F3 Engineering
F3 Engineering is a provider of technology, products and services in military and commercial mission-critical applications. With the resources and technical expertise to prototype and manufacture highly complex products, F3 brings technical, administrative and managerial resources together to provide a total program of complex engineering and contract manufacturing solutions. For more information on F3’s dedication to providing technical guidance and support to its customers, visit www.f3engineering.com or call Ken Rosenbaum, General Manager at (973) 442-2290.