New York City Hall hosted an event where Mayor Eric Adams, Chief Business Diversity Officer Michael J. Garner, MOCS Director Kim Yu, and SBS Commissioner Dynishal Gross provided updates on minority- and women-owned business enterprises (M/WBEs), reporting progress toward the OneNYC target of $25 billion by FY 2026.
This year’s figures set new records for the city’s M/WBE program, with a 36.4 percent utilization rate—over 5 percent higher than last year—and $2.2 billion in contracts awarded under Local Law 1. According to the City of New York, Fiscal Year 2025 saw $6.9 billion in contracts awarded to M/WBEs, marking the highest totals and utilization rate in the program’s history.
Chief Business Diversity Officer Michael J. Garner stated that the increased participation of M/WBEs in city contracts supports community development, adding that awarded contracts contribute to job creation, homeownership, and improved educational and health opportunities for business owners’ families. SBS Commissioner Dynishal Gross highlighted the agency’s role in supporting M/WBEs through programs such as the Contract Financing Loan Fund and business education initiatives.
The Adams administration has implemented initiatives aimed at supporting M/WBEs, including Executive Order 34 and the establishment of the Chief Business Diversity Officer role, with a focus on improving access to city contracting and reducing barriers to competition. MOCS Director Kim Yu stated that the agency works to ensure that city contracts contribute to inclusive economic growth by developing systems, policies, and partnerships that provide sustainable access for M/WBEs, while promoting transparency, efficiency, and accessibility in contracting.
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