New York State Governor Kathy Hochul has announced that the state has exceeded its minority- and woman-owned business (MWBE) utilization goal for the 2020-2021 fiscal year. The goal for the period was set at 30 percent, and the state reached 30.51 percent utilization of MWBEs during that time.
The figure represents a total $3 billion worth of state contracting dollars awarded to MWBEs during the fiscal year. The 30 percent goal represents the highest MWBE participation goal in the nation, with the 30.51 percent utilization attained being the highest state MWBE utilization as well.
In addition, Empire State Development's Division of Minority and Women’s Business Development issued its annual report for the 2020-2021 fiscal year. Among other findings, the report notes that the State's directory of certified MWBEs has also reached its highest ever number of listed firms, with a total of 9,243 overall.
"Our diversity is our greatest strength, and a top priority for my administration is making sure that economic opportunity in our state is equitable and reflects that diversity," said Governor Hochul in a press release.
Read the press release from the Governor's office at https://www.governor.ny.gov/news/governor-hochul-announces-minority-and-women-owned-business-enterprise-utilization-rate-leads.
Read ESD's report at https://esd.ny.gov/esd-media-center/reports/division-minority-and-womens-business-development-annual-report-2021.
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