Businesses owned by minorities and women received a record $1.49 billion in state contracts during the last fiscal year, Gov. Andrew Cuomo announced today.
Currently, MWBEs have contracts with 97 public agencies and authorities which make up a record 21.06 percent of state contracts, exceeding Coumo’s goal of 20 percent.
In 2011, the state started work to expand participation of Minority-and-Women-Owned Business Enterprises in state contracting through an executive order by Cuomo and his MWBE team which included elected officials, business and academic leaders.
Previously, the state was not reaching their obligation to submit documents required by law to outline their MWBE program goals, Gannett’s Ashley Hupfl reports.
“The success of thousands of minority-and-women-owned firms seeking to compete and advance in the marketplace is critical is igniting economic growth and spurring prosperity in all of our communities statewide,” Cuomo said in a statement.
By the end of 2011, the state secured 100 percent of these documents from state agencies and authorities. The documents started the launch of an online contract system that launched in 2012.
The contract system allows businesses to find contract opportunities, find contractors and subcontractors, obtain certification online, and monitor contract performances. The state also simplified the application process that increased certified MWBEs and eliminated the application backlog, Cuomo said.
The state launched a program to help MWBE owners to obtain credit in the construction industry and secure bonding for up to 30 percent of state contracts. To date, participating businesses have secured $40 million in bonding capacity.