On Wednesday, June 15, Mayor de Blasio announced New York City’s plan to award $16 billion in M/WBE contracts by July 2025. In a city as diverse as New York, increasing the number of contracts awarded to M/WBEs will provide opportunities to and greatly benefit every community in New York City. Here is why:
1. Diversity encourages growth – The inclusion of M/WBEs in contracting fosters a strong and inclusive economy. It strengthens and expands the New York City market.
2. Diversity attracts and retains talent – Diversity in business presents a wider range of options for companies to choose from and allows for the best and brightest talent to be utilized.
3. Diversity generates innovation – Innovation and adaptability is generated when there is a diversity in cultures, ethnicities, age, gender, etc. When employees and clients learn new ideas and perspectives, they are more creative.
With the recent appointment of Jonnel Dorris as the new Senior Advisor for the City’s Minority and Women-owned Business Enterprise program, the Mayor and city agencies are working to increase the number of awards given to MWBEs.
Although the City is making strides, the private sector must do its part in contracting with MWBEs to create substantial progress. Companies can play a crucial rule in increasing the amount of contracts awarded to M/WBEs both by raising awareness about the M/WBE program, and by creating subcontracting opportunities for M/WBEs.
At Capalino+Company, we provide technical assistance, networking opportunities and business development strategies that help our MWBE clients succeed in New York City. We encourage MWBEs to take full advantage of both city and state procurement opportunities and assist our clients in applying for RFPs and complying with regulations and requirements.
The Capalino+Company MWBE Consulting Group, led by Senior Vice President Tunisha Walker, works with MWBEs to build their capacity and secure government contracts, and assists companies seeking to hire MWBEs to comply with MWBE goals.
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