Usage rate for minority and women-owned businesses leads the nation at 30.51%

Thu 16 December 2021 09:55

New York Exceeds 30% Target for MWBE Use in State Contracts

√ Over $3 billion in government contracts awarded to MWBEs for FY 2020-21

√ Full report can be found here

Governor Kathy Hochul announced that New York State has exceeded its official utilization rate target for Minority and Women-Owned Businesses (MWBEs) on state contracts with 30.51% – the highest in the country – for the 2020-21 financial year. Additionally, more than $3 billion in public contracts have been awarded to MWBE companies during the same period, with more than $21 billion in public contracts awarded since 2011.

The achievement was announced in conjunction with the 11th Annual New York State Minority and Women-Owned Business Forum, which runs through December 16. , and become more competitive in an ever-changing market.

“New York State is setting ambitious goals — and my job is to achieve them,” Hochul said. “Our diversity is our greatest strength, and a top priority for my administration is to ensure that economic opportunity in our state is equitable and reflects that diversity. MWBEs are the economic backbone of our communities, and Cape of the 30% that we have exceeded and continue to exceed demonstrates my firm belief in this fact.”

Lieutenant Governor Benjamin said, “As we rebuild better after the COVID-19 pandemic, we must rebuild inclusively, and I am proud of the aggressive steps New York State has taken to ensure that everyone is entitled to participate in our growth. Governor Hochul has worked tirelessly to remove systemic barriers to MWBE’s participation in government contracts, and by surpassing our 30% utilization goal – the highest in the nation – we are ushering in a new era of equal opportunity for that MWBEs succeed. ”

The theme for this year’s forum is “Innovating Forward” and features in-person events and large-scale online sessions that bring together MWBEs, state agencies and authorities, implementers and other partners. strategic. Programs include panels and working sessions, as well as live and virtual networking meetups. Scheduled programs cover a wide range of topics, from discussions on investing and growing a business by accessing capital and leveraging technology, to emerging opportunities for MWBEs in the growing cannabis industry. of State. The forum focuses on raising, strengthening and celebrating MWBEs with the aim of ushering in a new era of connectivity between public agencies, private sector partners and MWBEs.

Julissa Gutierrez, New York State Diversity Officer, said, “This year’s utilization rate confirms that New York has the boldest and most aggressive MWBE program in the country. Achieving this ambitious goal now challenges us to continue our momentum to break down structural and societal barriers and ensure our economy reflects the great diversity of our state. »

Hope Knight, Acting Empire State Development Commissioner and President and CEO-designate, said, “As New York begins to reopen, MWBEs must be equipped with the tools necessary to adapt to a new reality as the state rebuilds and they chart paths to economic success through state contracting opportunities.”

Executive Vice President and ESD Executive Director of Minority and Women’s Business Development Jerome A. DuVal said, “Our mission – and the government’s obligation – is to support opportunity for all, by especially those who have historically been disenfranchised to participate fully and Exceeding our 30% utilization rate goal represents hard work and a positive and productive partnership between the public and private sectors – elected officials, community leaders, business owners businesses, advocates and entrepreneurs – to ensure MWBEs have fair and equal opportunities for success.”

ESD’s Minority and Women’s Business Development Division also released its annual report for the 2020-21 fiscal year. The report outlines New York State’s historic accomplishments and successes in supporting MWBEs in the past and during this year, which is especially important given the ongoing impact of the COVID-19 pandemic.

The full report is available here.