NAICS 2017 Revision for Table of Small Business Size Standards
The U.S. Small Business Administration issued a final rule adopting the U.S. Office of Management and Budget’s (OMB) North American Industry Classification System (NAICS) revision for 2017 (NAICS 2017) for its table of small business size standards. The final rule is published in the Federal Register at https://www.gpo.gov/fdsys/pkg/FR-2017-09-27/pdf/2017-20705.pdf NAICS 2017 created 21 new industries by reclassifying, combining, or splitting 29 existing industries under NAICS in 2012 (NAICS 2012). On April 18, 2017, SBA issued a proposed rule seeking comments on its proposed size standards for the 21 new industries. The agency received three comments which were outside of the scope of the proposed rule. Accordingly, SBA is adopting, without any change, the proposed size standards for the new industries. The change results in an increase to size standards for six NAICS 2012 industries: (one in Sector 21, Mining, Quarrying, and Oil and Gas Extraction; three in Sector 31-33, Manuf