There’s a federal government agency that actually generates profit for the U.S. taxpayer. OPIC (Overseas Private Investment Corporation) is that small but successful agency and starting this month; LAC Group is providing information services to support its mission.
LAC Federal, part of LAC Group, was awarded a five‑year contract as prime contractor to OPIC for reference and technical information services. LAC Federal will employ two information professionals who will work full‑time at OPIC offices in Washington, D.C.
OPIC enables U.S. businesses to gain a foothold in emerging markets, providing investors with financing, guarantees, political risk insurance and other support. By mobilizing private capital, OPIC helps solve critical development challenges, advancing U.S. foreign policy in the process.
“The OPIC contract melds LAC Group’s experience and strengths in federal government, commercial and legal markets,” says LAC Federal Director Al Furnari. “We are proud to add OPIC to our client roster and to contribute to the important economic development work the agency is doing around the world.”
LAC Federal will provide reference and technical services to OPIC staff and partners. Reference services include due diligence and character reference research on individual and business investors, as well as market research and current status on environmental, political and other local issues. LAC staff will also be responsible for maintaining the organization’s knowledge
base. Technical services include traditional library responsibilities, such as management of OPIC’s physical collection as well as document delivery and other interlibrary loan activity.
Established as a U.S. government agency in 1971, OPIC operates on a self‑sustaining basis. OPIC is appropriated administrative funding and reauthorized on a regular basis by the U.S. Congress. In fiscal year 2014, OPIC generated $358 million for the U.S. Treasury, marking 37 consecutive years of reducing the Federal budget deficit.
About LAC Federal
LAC Federal is dedicated to the unique knowledge and information management needs of federal government agencies and departments. Based in Rockville, Maryland, the federal team is familiar with all facets of U.S. government procurement, either as direct contractors or trusted subcontracting partners. LAC Federal is on the GSA Schedule for technical, administrative & professional staffing as well as office, imaging and document solutions. As part of LAC Group, the federal division delivers the company’s full range of knowledge and information management expertise, customized for government clients. For more information, please visit https://lacfederal.com