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AGENCY TESTIMONY
Record-breaking MWBE contract awards and utilization rates
0:15:23
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Lisa Flores reports on the significant progress made in awarding contracts to Minority and Women-owned Business Enterprises (MWBEs). She highlights record-breaking achievements in contract awards and utilization rates, demonstrating the administration's commitment to supporting diverse businesses.
- In FY 2024, the city awarded a record $6.4 billion in MWBE contracts
- Achieved the highest award total to MWBEs under Local Law One at approximately $1.6 billion, a 15% increase since the beginning of the administration
- MWBE utilization rate increased to 31.2%, one of the highest since the program's initiation in 2015
- Preliminary data for Q1 FY 2025 shows a strong 32.7% utilization rate
- Enhanced the MWBE small business purchase method, increasing contract value from $110 million in FY '22 to $248 million in FY '24
- Expressed confidence in continued progress in leveling the playing field for MWBEs
Lisa Flores
0:15:23
And we will continue to engage with our partners and look forward to witnessing the benefits many users have already experienced with our modernization Beyond this work and in partnership with the Office of MWBE and Department of Small Business Services, our team also supports the MWBE program.
0:15:38
In FY 2024, the city awarded a record breaking $6,400,000,000 in MWBE contracts and are continuing to make significant progress toward the administration's One NYC goal of awarding 25,000,000,000 in NWBE city contracts by FY '20 '6.
0:15:53
Under local law one, the city achieved its highest award total to NWEs in history at approximately $1,600,000,000 a 15% increase since the beginning of the administration.
0:16:03
And our MWE utilization rate also increased to 31.2%, marking one of the highest utilization rates the city has ever achieved since the program initiated in 2015.
0:16:14
And our preliminary data for the first quarter of FY twenty five indicates we remain on a strong path with 32.7% utilization thus far.
0:16:22
As I mentioned previously, our enhancements to the MJPE small business or small business, purchase method has been essential to our success, with major legislative increases from 500 to 1,000,000 in FY '20 '3 and 1,000,000 to 1.5 in FY '20 '4.
0:16:36
This method showed a 60% increase in contract value from over 110,000,000 in FY '22 to 170 in FY '23.
0:16:43
And in FY '24, the city awarded $248,000,000,000 using this method.
0:16:48
With the continued signs of progress and the implementation of other reforms mentioned today, I'm confident that we will continue to chip away at barriers to level the playing field and establish clear pathways for opportunity.
0:16:59
In order to effectively implement change, we must understand that navigating the city's procurement process is not a solitary journey.