![]() ![]() “The commonwealth continued its efforts to meet its ambitious veteran-owned business benchmark,” the report said. Program participants “exceeded” spending benchmarks for the women-owned, minority-owned, and small business categories, the report said.īut the state fell well behind in the veteran-owned category, spending only 20% with those businesses in fiscal 2022, according to the state. The state spent roughly $3.2 billion with diverse and small businesses in fiscal 2022, a 15% increase over fiscal 2021, according to the Supplier Diversity Office report. It helps LGBTQ businesses grow and thrive in Massachusetts while helping to expand our economy,” Moreno said in a statement provided by the Healey administration. “This announcement is yet another step in that direction. The LGBTQ community has long contributed to the state’s economy, said Grace Moreno, executive director of the Massachusetts LGBT Chamber of Commerce. The Healey administration also launched a new online map to help state agencies, cities, towns, and others to find certified diverse business partners. And it also requires those agencies to purchase a certain amount of goods from them. Massachusetts’ Supplier Diversity Program encourages the 73 participating state organizations to award contracts to businesses owned by different groups. ![]() The new benchmark is about $8 million short of the $10 million that state agencies spent with LGBTQ-owned businesses in fiscal 2022 and $12.5 million behind the $5.5 million in spending in the category for fiscal 2021, according to state data.īut state agencies handed over more than $15 million to disability-owned businesses in fiscal 2022 and $12.8 million in fiscal 2021, according to a report authored by the state’s Supplier Diversity Office. “Our administration is committed to increasing opportunities for them to do business with the state, which will not only help their businesses grow but will also support the state’s equitable economic development.” “Massachusetts is home to so many wonderful diverse and small businesses who are truly the backbone of our communities and our economy,” Healey said in a statement. LGBTQ- and disability-owned businesses are the only categories without established benchmarks even though the state recognizes them in their Supplier Diversity Program, Gov. The state already lays out agency spending benchmarks for businesses owned by veterans, minorities, and women. State agencies will need to work towards spending at least $18 million with LGBTQ- and disability-owned businesses during the fiscal year 2024 that starts on Saturday, the Healey administration announced Friday morning. ![]()
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