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MWBE contracts in NYC exceed $1 billion

The dollar share of New York City contracting opportunities going to minority- and women-owned business enterprises (MWBEs) more than doubled in 2016 from its 2015 total, going from $400 million to over $1 billion.

This is the first time in the city's history that city spending with MWBEs has exceeded the $1 billion.

This total represents a further step towards the city's goal to award 30 percent of city contracting dollars to MWBEs by 2021, which was announced by Mayor Bill de Blasio in September of 2016.

This rise in the share of city contracting dollars going to MWBEs has been attributed to a number of factors, including Mayor de Blasio’s stated goals. The city is also allocating $30 million worth of funding to three loan programs that can give small businesses the access to capital necessary to be competitive in city contracting, and is working with private banks in service of this general goal.

The city is also working through it's newly-established MWBE office towards a goal of having 9,000 certified MWBEs by 2019. There are over 5,100 city-certified MWBEs, representing a rise of over 500 certifications from September of 2016.