Mayor Adams introduced Friday town awarded $1.59 billion to minority- and women-owned enterprise contracts underneath town’s Native Regulation 174 program — the very best contract quantity in this system’s historical past. That is up barely from $1.4 billion final 12 months.
The town spent over $6 billion in whole in fiscal 12 months 2024, which resulted in July, on traditionally marginalized companies, the mayor stated.
“City government is leading the way in showing you can invest in communities throughout the city and still deliver a quality product to New Yorkers,” Adams stated at a press convention saying the information. “Communities of color and women have been locked out of building wealth and have found it difficult to get their business off the ground.”
Adams additionally introduced the creation of an M/WBE advisory board co-chaired by Michael Garner, who additionally heads the Workplace of M/WBE as Chief Enterprise Range Officer.
Ed Reed/Mayoral Pictures Workplace
Adams additionally introduced the creation of an M/WBE advisory board co-chaired by Michael Garner (heart), who additionally heads the Workplace of M/WBE as Chief Enterprise Range Officer. (Ed Reed/Mayoral Pictures Workplace)
This system, which goals to spice up metropolis enterprise given to various firms, has fallen quick in equitably distributing contracts to Black-, Hispanic- and women-of-color-owned companies, based on a report launched earlier this 12 months by Brad Lander, town’s comptroller.
Adams stated Friday town’s workforce had improved that monitor file: “[The] mission was to diversify the contracts that the city was having with individuals, and the team rolled up their sleeves, and we accomplished that task. A job well done. We’re far from where we want to be, but we’re going to continue to do so.”
A poll measure that might have, partly, made the chief enterprise range officer posting everlasting, did not go on election day final week. Adams stated Friday that this wouldn’t affect the M/WBE program’s operation.
Within the companies sure by Native Regulation 174, which mandates metropolis companies to have contracting objectives guaranteeing a delegated portion of their contracted funding is invested in various companies, the utilization price, or proportion of metropolis contract {dollars} that went to distributors and contracts, was 31.2 % — the very best in this system’s historical past.
Round 1 / 4 of the Metropolis’s whole procurement portfolio is topic to Native Regulation 174 objectives.
