LOS ANGELES, May 28, 2015 /PRNewswire/ -- There's a federal government agency that actually generates profit for the US 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 Group
LAC Group, Leader in Information Curation and Knowledge Services, offers comprehensive services to help organizations maximize the utility of real-time and archival information. A certified woman-owned business established in 1986, LAC Group is a trusted choice of government agencies, Fortune 500 companies, law firms, major studios, broadcasters and universities seeking to manage their ever-increasing information and knowledge management challenges. The company operates from offices in Los Angeles, New York, Chicago, Denver, Boston and Rockville, MD as well as the United Kingdom.
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SOURCE LAC Group