New York State continues to report steady gains toward increasing the share of its contracts awarded to minority-and women-owned businesses.
New York awarded more than 30% of its contracting dollars to MWBE firms in the fiscal year ended March 31, marking the fourth consecutive year where the state exceeded its set-aside goal, Gov. Kathy Hochul announced.
MWBE firms — based in New York and elsewhere — shared about $2.8 billion in contracts, or $144 million more than in the year ended March 31, 2023.
That represents 32.21% of all contracting dollars and is the “second highest MWBE utilization rate in the history of New York State,” the governor said at a conference in Albany last week.
Hochul’s predecessor, then-Gov. Andrew M. Cuomo, set the utilization rate at 20% in 2011 and raised it to 30% three years later.
MWBEs based on Long Island won $414.1 million in contracts last year, No. 3 after New York City and firms based in other states, according to a report from Empire State Development, the state’s primary business-aid agency.
At the Albany event, Hochul gave a shoutout to Jackman J. Prescod, founder and CEO of 5d Architecture & Engineering, P.C. in Lynbrook.
“His Black-owned firm is only one of a handful in the nation and he’s using drone technology for bridge inspections. This industry didn’t even exist a few years ago but he’s a national leader,” she said, adding that 5d Architecture is involved in the overhaul of Kennedy Airport.
Prescod did not respond to requests for comment on Tuesday.
Hochul also unveiled a decal that MWBE firms could display on websites, in advertising, and on signage.
Phil Andrews, president of the Long Island African American Chamber of Commerce, told Newsday the decal “holds significant weight and credibility” because it shows the public that the state supports MWBEs.
He also said the latest procurement data demonstrates “that good government policies can make a significant difference in MWBE certification and utilization.”
The chamber organizes workshops and events to help local MWBEs navigate the certification process and win their first contract. The chamber staged four events in October as part of its annual Minority Enterprise Development week in Nassau and Suffolk counties.
More than 9,270 firms had been certified as MWBEs as of Nov. 6, with 1,228 of them based on Long Island, according to the state report.
James T. Madore writes about Long Island business news including the economy, development, and the relationship between government and business. He previously served as Albany bureau chief.
