Over $8 Billion in Contracts with Firms Owned by Minorities, Women & Disabled Vets
SAN FRANCISCO – The California Public Utilities Commission’s supplier diversity program generated an all-time record $8.1 billion in contracts for businesses owned by minorities, women and disabled veterans last year, The Greenlining Institute reported today. The figures, filed with the CPUC by regulated utilities and telecommunications companies, are reported in Greenlining’s latest annual Supplier Diversity Report Card.
“If you believe that entrepreneurship is key to prosperity, then today’s report is extremely good news,” said Greenlining Institute General Counsel Samuel S. Kang. “Under the CPUC’s leadership, California utilities and telecom companies are putting real dollars into California’s diverse communities.”
Key findings in the Report Card include:
- California’s regulated utilities and telecommunications companies reported $8.1 billion in spending with minority-, women- and disabled veteran-owned businesses in 2012.
- Contracting with minority-owned businesses increased by $1.5 billion from 2011 to 2012.
- Two companies, Southern California Gas and AT&T, are moving towards 30 percent total spending with minority-owned businesses.
- Seven companies achieved over 20 percent spending with minority-owned businesses in 2012.
- While the overall trend was positive, spending with Latino-owned businesses declined for most companies this year.
- Spending with diverse-owned businesses in the categories of legal and professional services continued to lag.
THE GREENLINING INSTITUTE
A Multi-Ethnic Public Policy, Research and Advocacy Institute