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STRINGER ANNOUNCES PLAN TO EMPOWER MINORITY & WOMEN OWNED BUSINESSES AS COMPTROLLER
Says minority and women-owned enterprises (M/WBEs) continue to be shamefully under-represented in government contracts in New York City Sets goal to double M/WBE spending by City agencies within three years Will launch letter-grading system for city agencies to track their efforts to boost M/WBE procurement
August 13, 2013 New York, NY Standing with the Reverend Jacques Degraff and owners of local minority and women-run enterprises, Manhattan Borough President today unveiled his plan to empower the Citys M/WBEs and level the playing field for local businesses. As Comptroller, Scott will set a goal to double MWBE spending by City agencies within three years, from todays $529 million to $1 billion. To ensure these goals are realized, he will appoint a Chief Diversity Officer within the Comptrollers Office to oversee M/WBE performance by city agencies, and institute a letter-grading system for individual agencies to track efforts. Despite their critical presence in every corner of the city, minority and women-owned enterprises continue to be shamefully under-represented in government contracts in New York City, said Stringer. This has got to change. Nothing is more important than growing jobs and opportunity for the middle class and those striving to get there, who are increasingly being priced of New York. Boosting M/WBEs will not only produce economic growth in neighborhoods throughout the five boroughs, but will increase competition in procurement, helping drive down costs

for all taxpayers. Helping to support M/WBEs will also grow jobs in many of the neighborhoods hardest hit by the last recession, research shows. As Comptroller, Scott will take three fundamental steps to achieve this goal and to help grow the strength of M/WBEs and advance issues related to diversity in both city government and corporate America: 1) Appoint a Chief Diversity Officer within the Comptrollers Office to oversee M/WBE performance by city agencies, and to leverage the citys pension investments to foster greater diversity on corporate boards. 2) Demand performance by assigning each agency with a letter grade based on their progress in meeting M/WBE contract targets, and posting the grades prominently on the Comptrollers website. 3) Work with the Department of Small Business Services (SBS) and neighborhood organizations to bring workshops and trainings into communities with high concentrations of M/WBEs, as a way to help small businesses navigate the complex contracting process. As Borough President, Scott released the first-ever survey of women and minority owned businesses, Growing Gotham: A Survey of New York Citys Minority and Women Business Enterprises and a Roadmap for Economic Growth. The survey showed that these businesses continue to face steep barriers in the marketplace, and within the process that awards City contracts. Read the whole white paper Minority and Women Owned Businesses: Leveraging NYCs Unparalleled Diversity to Boost Middle Class Jobs + Strengthen Our Neighborhoods here. ###