NYC MWBE Noncompetitive Small Purchase Now Set to $500K
After a rigorous approval process, the City of New York’s renewed and significantly expanded diversity participation law is now active. City agencies have started using a portion of this law which increased the City’s Noncompetitive Small-Purchase amount from a limit of $150,000 per contract to $500,000 per contract. This significant increase enables City certified Minority and Women-owned Business Enterprises (M/WBEs) to more efficiently transact business with the City of New York, bringing the City closer to its diversity goals and the specialized, creative talents of M/WBEs.
“A $500,000 discretionary award limit for minority and women entrepreneurs will strengthen our thriving economy and entrepreneurial backbone,” NYC Mayor Bill de Blasio says.
Through the M/WBE Noncompetitive Small-Purchase, M/WBE vendors and purchasing agents are able to effectively streamline the procurement process and foster competition for City contracts. This means faster procurement cycles and more direct contract opportunities for M/WBE vendors for government jobs.
“This is certainly the right step forward to our ultimate goal of economic inclusion and equity in the State of New York for the M/WBE community,” NYS Assembly Member and bill sponsor Rodneyse Bichotte says.
Last fiscal year, the City awarded an impressive 24% of its contracts to M/WBE vendors. As the City continues to make strides toward its current goal of 30%, it’s a reminder of the necessity of policies such as the M/WBE Noncompetitive Small-Purchase which help address this gap.
“This is exactly the kind of change we need to further strengthen the great City of New York,” QED National President Colleen Molter says, “Now it’s time to focus on our services.”
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