NY surpasses Utilization Goal for Minority & Women-Owned Businesses

For the 4^th Year in row, New York State has finally surpassed its utilization goal of 30 percent Minority and Women-owned Businesses, as announced by Governor Hochul during the 14th Annual New York State MWBE Conference Forum that took place on November 12, 2024.

Since Governor Hochul took office, 32.21 percent utilization rate in 2024 represents almost $3 billion in public contracts that has been awarded to MWBEs (certified) that to, nearly $12 billion. A new MWBE certified decal has also been revealed by the Governor.

He said, “Since becoming Governor, my administration has championed an economic agenda that benefits all New Yorkers, and this year’s utilization rate shows the progress we have made toward achieving that goal. We have more to do, but diversity is New York’s greatest strength and our communities are our greatest voice – together, we will continue to promote nation-leading programs and policies that support a fairer, stronger, diversified economy.”

The MWBE program of New York State started in the year 1988 and designed with a model for the expansion of economic opportunity while assisting diverse business growth. Keeping the focus on Minority and Women-owned Businesses, this program gives them skills, resources, and connections for success.