Mayor Michelle Wu launched Supplier Diversity Week in Boston, continuing efforts to bolster the participation of local, diverse businesses in city contracts. According to a recent article from the City of Boston official website, Wu, alongside Cambridge City Manager Yi-An Huang, signed a memorandum of understanding forming a "Compact to Build Local Economic Growth."
The partnership aims to not just incrementally increase, but to substantially expand, public contracting with minority-owned, women-owned, veteran-owned, and LGBTQ-owned business enterprises. The city revealed a multitude of initiatives, such as the SCALE Grant Program, aiming to pump capital and education into small businesses. These efforts appear to coincide with the aspirations to create a more equitable economic landscape in the Boston-Cambridge area.
The SCALE Grant Program, set to dispense up to $200,000 to eligible businesses, opens for applications on November 1. The program, funded by the American Rescue Plan Act, targets industry categories representing a significant portion of the city’s public contracts. Boston is primed to designate $5 million in total grants to support small, local firms, slated for distribution starting early 2025.
Alongside these financial levers, Boston is also looking to aid through transparency and knowledge. The newly released Equity in City Contracts Report, accompanied by an interactive data dashboard, is designed to clearly communicate the city's contract spending and showcases progress in supplier diversity. "Thanks to Mayor Wu and her commitment to closing the racial wealth gap, ensuring that a greater share of City contracts are awarded to local, small, diverse firms continues to be a top priority for the Administration," said Chief of Economic Opportunity and Inclusion Segun Idowu, in a statement obtained by the City of Boston official website.
Metrics from the fiscal year 2024 support the narrative of progress, indicating a significant increase in contracts to diverse businesses. The City of Boston surpassed $100 million in spending with certified minority- and women-owned businesses—a historical milestone for diverse firms. "We are blessed in Boston to have incredible businesses who strengthen our local economy and bring so much vibrancy to our community," Mayor Michelle Wu told the City of Boston official website.
More information about the Department of Supplier Diversity (DSD) and the Procurement Department’s initiatives, including details on the SCALE Grant Program and the Equity in City Contracts Report, can be found on the City of Boston official website.
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