Business Contracting: New York/New Jersey
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New York/New Jersey: Port Authority Sets Record for Minority- and Women-Owned Small Business Enterprise Inclusion in Agency Contracts
Contract awards by the Port Authority of New York & New Jersey to Minority, Women-owned and Small Business Enterprises (MWSBEs) increased significantly in 2015, representing nearly a quarter of all agency contract spending, the port authority announced May 31.
The 2015 MWSBE participation rate of 24 percent of total contracts was up from 18.3 percent in 2013 and 17.3 percent in 2014. These businesses, which received a total of $315 million in port authority contracts last year, support nearly 2,453 job-years and generating $154 million in wages and $531 million in regional economic activity.
"The results from 2015 are strong evidence that the port authority is committed to providing opportunity to regional MWSBE firms," said Port Authority Chairman John Degnan. "Their success across the port district is an important stimulus to economic activity throughout the New Jersey and New York region."
The largest portion of the $315 million figure came from port authority prime and sub-contracts, which totaled $195 million. Roughly $66 million came from World Trade Center projects and $54 million from aviation tenants. Over the years of WTC rebuilding, approximately $1.3 billion worth of site contracts have gone to MWSBEs.
Additional MWSBE and Disadvantaged Business Enterprises (DBE) activity from new WTC tenants and the agency's partners on the Goethals Bridge Modernization Program and the George Washington Bridge Bus Station project yielded $72.5 million in awards, which boosts the $315 million amount to $387.5 million. MWSBE programs are typically city or state designations, while DBEs are federal programs regulated by the U.S. Department of Transportation.
The port authority continues to build the pipeline of qualified businesses through its Mentor Protégé Program, an initiative to increase the number of certified businesses big enough to bid successfully on larger constructions projects. Fifteen MWSBEs participated in 2015, with 67 of the businesses having participated in the program since 2002.
Contract awards by the Port Authority of New York & New Jersey to Minority, Women-owned and Small Business Enterprises (MWSBEs) increased significantly in 2015, representing nearly a quarter of all agency contract spending, the port authority announced May 31.
The 2015 MWSBE participation rate of 24 percent of total contracts was up from 18.3 percent in 2013 and 17.3 percent in 2014. These businesses, which received a total of $315 million in port authority contracts last year, support nearly 2,453 job-years and generating $154 million in wages and $531 million in regional economic activity.
"The results from 2015 are strong evidence that the port authority is committed to providing opportunity to regional MWSBE firms," said Port Authority Chairman John Degnan. "Their success across the port district is an important stimulus to economic activity throughout the New Jersey and New York region."
The largest portion of the $315 million figure came from port authority prime and sub-contracts, which totaled $195 million. Roughly $66 million came from World Trade Center projects and $54 million from aviation tenants. Over the years of WTC rebuilding, approximately $1.3 billion worth of site contracts have gone to MWSBEs.
Additional MWSBE and Disadvantaged Business Enterprises (DBE) activity from new WTC tenants and the agency's partners on the Goethals Bridge Modernization Program and the George Washington Bridge Bus Station project yielded $72.5 million in awards, which boosts the $315 million amount to $387.5 million. MWSBE programs are typically city or state designations, while DBEs are federal programs regulated by the U.S. Department of Transportation.
The port authority continues to build the pipeline of qualified businesses through its Mentor Protégé Program, an initiative to increase the number of certified businesses big enough to bid successfully on larger constructions projects. Fifteen MWSBEs participated in 2015, with 67 of the businesses having participated in the program since 2002.
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