New York City surpasses 10-year OneNYC MWBE goal
NY News - Published Sep 27, 2022
New York City Mayor Eric Adams and New York City Department of Small Business Services (SBS) Commissioner Kevin D. Kim have jointly announced that the City has exceeded its OneNYC goal of awarding a cumulative $25 billion worth of contracts to minority- and women-owned business enterprises (M/WBE) by fiscal year 2025. The announcement puts the City three years ahead of schedule in reaching the goal.
In addition, the City has awarded over $6 billlion in contract dollars to M/WBEs in fiscal year 2022, which represents an increase of roughly half again when compared to fiscal year 2021. The total number of M/WBE firms receiving contract dollars increased as well, from 1,416 in fiscal year 2021 up to 1,605 in fiscal year 2022.
Iniatives the City is promoting to continue strong utilization of M/WBEs include: further resources for ConstructNYC, a training and technical assistance program for M/WBEs; a new mentorship program from SBS for M/WBEs; and new prequalified lists City agencies can draw on to find M/WBEs.
"These billions of dollars will build equity, boost recovery, and create opportunity for M/WBEs," said Mayor Adams in a statement.
Read the press release from the Mayor's Office at https://www1.nyc.gov/office-of-the-mayor/news/696-22/mayor-adams-sbs-nyc-surpasses-target-ahead-schedule-award-25-billion-contracts.