Mayor Adams Celebrates $17.7 Billion in Contracts for Minority- and Women-Owned Businesses at Gracie Mansion Ceremony

Mayor Eric Adams highlighted the significant achievements of minority- and women-owned business enterprises (MWBEs) during the second annual MWBE award ceremony held at Gracie Mansion. The event recognized the substantial contributions these businesses have made to the city’s economy and the commitment of city agencies to promote diversity and inclusion in contracting.

At the ceremony, Mayor Adams announced that since he took office, the city has awarded a historic $17.7 billion in contracts to MWBEs, with utilization rates surpassing 30% for the first time (Source: https://youtu.be/w8RQqFlwQs4&t=204). This achievement reflects a concerted effort by city agency leaders who have demonstrated a commitment to equity in government contracting, underscoring the critical role of these businesses in driving New York City’s economic recovery.

Notable awards were given to several city agencies for their exceptional performance in awarding contracts to MWBEs. The New York City Housing Authority (NYCHA) received recognition for surpassing the $1 billion mark in MWBE contracts in fiscal year 2024, with the New York City School Construction Authority achieving similar results (Source: https://youtu.be/w8RQqFlwQs4&t=3529). Additionally, the Department of Consumer and Worker Protection identified as having the highest MWBE utilization rate at 97% (Source: https://youtu.be/w8RQqFlwQs4&t=405).

The event drew attention to the ongoing challenges faced by MWBEs, including systemic biases and disparities in access to capital. Speakers reaffirmed the city’s commitment to tackling these issues and enhancing support for minority- and women-owned businesses in the upcoming years. The administration emphasized plans to increase contract awards and improve outreach to further reduce inequalities in the business landscape (Source: https://youtu.be/w8RQqFlwQs4&t=3313).

In summary, the ceremony celebrated remarkable milestones in MWBE participation in city contracts, emphasizing the need for continued advocacy and strategic partnerships to ensure these businesses thrive in New York City’s diverse economy.