New York City is doing a poor job at integrating minority and women-owned business enterprises (M/WBEs) into the public contracting sphere, according to a report card released last week by the Comptroller's office.
With only $725 million out of $13.8 billion - or 5.3% -of city contract's going to M/WBEs in Fiscal Year 2015, the city received a "D+" grade. Still, this is an improvement over the previous year, when the city received a "D" grade after spending just 3.9% with M/WBEs.
"New York City has certified more than 4,100 vendors as official 'Minority and Women-Owned Business Enterprises' - but we've left 80% of them in the lurch when it comes to actually giving out contracts," Comptroller Scott Stringer said. "We owe our City’s richly diverse business community more than just lip service - we need to deliver real spending to these very real businesses, and give them the support they need to succeed, create jobs, and help our City’s economy grow."
Despite these findings, the comptroller applauded Mayor Bill DeBlasio's administrations commitment to spend $1.6 billion with M/WBEs in 2015.
"The Administration’s $1.6 billion M/WBE commitment represents a serious step forward for minority and women-owned businesses," Comptroller Stringer said. "I'm hopeful that these new contracts will generate positive economic activity in every borough, and that the City's overall grades will rise once the $1.6 billion is actually spent, and in the pockets of M/WBE companies and their employees. But at the same time, we have much, much more to do if we are to truly level the playing field, and give minority and women owned businesses a chance to win their fair share of City business."
The full report card can be reviewed at http://comptroller.nyc.gov/wp-content/uploads/documents/Making_the_Grade_2015.pdf
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