The utilization rate for Minority and Women-Owned Business Enterprises (MWBE) on state contracts increased to 29.13 percent during the 2018-2019 fiscal year, achieving the highest rate in the nation, state officials said.
\nIn total, MWBEs won more than $2.93 billion in state contracts during the 2018-2019 fiscal year, officials said.
\n\u201cIn New York, we know that diversity is a strength, not a weakness. And when we empower minority and women-owned businesses to compete for state contracts, we create a better New York for all,\u201d Gov. Andrew Cuomo said. \u201cOur nation-leading utilization rate reflects the unmatched pool of MWBEs in the Empire State and our concerted efforts to create a more equal playing field for these companies.\u201d
\n\u201cWe are breaking down barriers for aspiring entrepreneurs and providing opportunities to ensure the growth and success of minority and women owned businesses,\u201d said Lt. Gov. Kathy Hochul. \u201cThe renewal and expansion of our robust MWBE program is advancing New York\u2019s nation-leading MWBE goals, with the utilization rate climbing to 29.13 percent. We are committed to encouraging and supporting minority and women owned businesses across the state, creating jobs and strengthening the economy as part of our overall efforts to promote diversity.\u201d
\nIn 2011, Cuomo set a goal of utilizing MWBEs for 20 percent of state contracting. Two years later, that goal was surpassed and in 2014 Cuomo raised the goal to 30 percent, the highest MWBE utilization target in the nation.
\nDuring Fiscal Year 2018-2019, the MWBE utilization reached 29.13 percent, the highest recorded rate in New York state, which translates to more than $2.93 billion in state contracts awarded to MWBEs. Since 2011, MWBEs have won $15.9 billion in state contracting.
\nEmpire State Development Acting Commissioner and CEO and President-Designate Eric Gertler said, \u201cInclusive economic development means providing opportunities for business owners from every background, and that is exactly what our MWBE program does.\u201d
\nThe key to the steady increase in the state\u2019s MWBE utilization rate since 2011 is the development of a sustainable, coordinated MWBE program that combines aggressive outreach to businesses, sustained engagement of state agencies and authorities, and robust technical assistance options for business owners. The wide breadth of resources available for MWBEs is highlighted at the state\u2019s annual MWBE forum, now in its ninth installment.
\nAs the state\u2019s MWBE utilization rate approaches its goal of 30 percent of state contracting, the state has identified industries with low rates of MWBE utilization and documented MWBE availability. Officials said by tailoring outreach and services to these firms, New York can help ensure diverse businesses across the economy are able to compete for state contracts and increase New York\u2019s utilization rate even further.
\nThis year, the Supply & Demand Utilization Initiative has been expanded to support MWBEs in advertising and marketing, architecture, engineering, environmental services, financial services, insurance, legal services, medical and clinical services, real estate, communications, IT consulting, software, medical, dental, and lab supplies, office equipment and furniture and food and beverage. The initiative provides industry-specific assistance, including specialty webinars and technical services from strategic partners.<\/p>\n","protected":false},"excerpt":{"rendered":"
The utilization rate for Minority and Women-Owned Business Enterprises (MWBE) on state contracts increased to 29.13 percent during the 2018-2019 fiscal year, achieving the highest rate in the nation, state officials said. In total, MWBEs won more than $2.93 billion in state contracts during the 2018-2019 fiscal year, officials said. \u201cIn New York, we know […]<\/p>\n","protected":false},"author":196,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[],"yoast_head":"\r\n