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New York City Mayor Eric Adams has announced that the City hit a record for utilization of minority- and woman-owned business enterprises (M/WBEs) in fiscal year 2023. During that period, City agencies and affiliated entities spent over $6 billion with 1,903 City-certified M/WBEs.
This level of utilization sets a record for number of certified M/WBEs contracted with, and ties the highest-ever percentage level of M/WBE utilization, at 28 percent for a given fiscal year. The utilization rate follows on the Mayor expanding discretionary authority for agencies to use non-competitive purchase methods for making contract awards to M/WBEs, as well taking several other steps, such as expanding the Contract Financing Loan Fund, and signing an executive order requiring City agencies to retain a senior staff member to prioritize M/WBEs and enhancing data collection.
The news was announced at the 15th Annual Citywide Procurement Fair, at which the City also announced a "#CityCertified" publicity campaign with the aim of encouraging City agencies to contract with M/WBEs.
"[Fiscal year 2023 utilization] puts us well on our way to hitting our ambitious goal of $25 billion awarded to M/WBEs by 2026," Mayor Adams said in a statement.
Read the press release from the Office of the Mayor at https://www.nyc.gov/office-of-the-mayor/news/725-23/mayor-adams-record-breaking-6-billion-spending-nyc-s-m-wbe-firms-first-fiscal.
