Increase the rates at which agencies utilize M/WBEs

Minority and Women-owned Business Enterprises (M/WBEs) are some of the strongest drivers of local economic growth because they tend to hire from within New York City’s diverse communities and keep money and investments flowing back into our communities. By awarding contracts to M/WBEs, the City will not only help close the inequality gap when it comes to wealth creation, but also support sustainable and diverse communities and local economic growth. New York City is currently a leader in M/WBE inclusion, but there is still significant room for improvement. Contracts have not historically been awarded to M/WBEs at a level commensurate with their representation in the marketplace. That is changing as the City undertakes a range of efforts to boost M/WBE participation. For example, under Local Law 1, in Fiscal Year 2014 the City awarded $690 million to certified M/WBEs in all prime and subcontracts, for a 57 percent increase over Fiscal Year 2013.

Project Stage

Development & Testing

Last update: October 05, 2023

Overview Contributors

Challenge

lack of inclusive access

Description

But this is not enough. In addition to increasing M/WBE program participation, the City can better increase M/WBE participation, even when not subject to Local Law. The City will aim to continue our positive trend and award more than $16 billion to M/WBEs over the next ten years. This target assumes that there will not be major downward deviations in economic conditions and that the City is able to win the changes in state and local law that we seek to give us the legal flexibility necessary to boost M/WBE participation to these levels. To be clear, this goal is a floor, not a ceiling, and includes all City contracts—not just those subject to the M/WBE program.

SDGs