The Supplier Diversity Program of Con Edison of New York and Orange and Rockland
Utilities exceeded its goals of creating opportunities for minority- and women-owned
businesses. The utilities purchased more than $315 million in goods and services from
minority- and women-owned businesses in 2012, an increase of more than 13 percent
from the year before at $277 million. Including fuel, expenditures with minority- and
women-owned businesses totaled more than $323 million.
Some notable successes in 2012 were:
- $17.0-million contract to a woman-owned business for information-technology staffing
- $10.4-million contract to a woman-owned business for supply of switchgear
- $9.7-million contract to a minority-owned business for storm-water system drainage
- $4.6-million contract to a woman-owned business for renovations and substation civil work
- $2.1-million contract to a minority-owned business for specialty coating products
- $1.2-million contract to a minority-owned business for bridge and roadway repair
The contracts for switchgear, storm-water system drainage, and bridge and roadway
repair were all won by vendors who are new or have significantly increased their volume of
business with our company.
Pension Fund Managers
Con Edison continues to hire outside managers to invest its pension funds. At the close
of 2012, two minority fund managers handled $354 million for the U.S. small-cap and $136
million for the U.S. large-cap equity funds for the pension fund.
Con Edison used minority insurance brokers in 2012 for business travel/employee crime
protection, liability and property insurance, lease obligations, and special liability insurance
required by railroads when working on or in close proximity to railroad property. The
company has used minority insurance brokers since 1985.
Hurricane Sandy Restoration Efforts
Minority- and women-owned businesses provided vital support in our restoration efforts
following Hurricane Sandy: they provided fuel; utility poles; dry ice; class and stock inventory
items; lodging; and electrician, site-safety, security, travel, and logistics services.
Developing Diverse Suppliers
A major focus of the Supplier Diversity Program is to recruit and develop opportunities for
minority- and women-owned businesses who can help the company reduce cost, enhance
safety, improve reliability, and increase sustainability.
We partnered with the National Minority Supplier Development Council’s Corporate Plus
Program to identify minority firms with the experience and scale to compete on the basis of
cost, quality, and innovation. The program has yielded positive results and we are building a
pipeline of firms that have either won contracts or are now bidding on contracts.
Our overall recruitment efforts yielded 20 new minority- and women-owned vendors.
Some of these new vendors provided dry-ice blasting, real-estate services, environmental
remediation, gas pipe, and fuel. These lines of business are all considered nontraditional
areas of opportunity.
We also co-hosted the New York and New Jersey Minority Supplier Development Council’s
Sustainability Summit to recruit minority- and women-owned businesses who provide
energy-efficient, environmentally friendly, and innovative goods and services that can
meet our company’s needs.
We supported two high-profile programs to help minority- and women-owned businesses
develop and expand their operations:
- The New York City Department of Small Business Services' Corporate Alliance Program Columbia University Construction Mentorship Program
- Strategic Steps for Growth initiative, a nine-month executive education program for minority- and women-owned businesses offered by the New York City Department of Small Business Services and the New York University Stern School of Business, Berkley Center for Entrepreneurship and Innovation
Supplier Diversity staff also co-hosted and participated in several other events to
network with minority- and women-owned businesses, including: the Women Presidents'
Educational Organization's Done Deals Challenge and Matchmaker Conference; Regional
Alliance Clearinghouse Matchmaker Conference; Institute for Supply Management
Matchmaker Conference; Department of Defense Northeast Regional Council Small
Business Matchmaker Conference; New York and New Jersey Minority Supplier
Development Council Business Expo; Edison Electric Institute National Supplier Diversity
Conference; Supplier Diversity Development Council Utility Industry Best Practices
Workshop; and the Association of Minority Enterprises of New York's Annual Business
Legislative Conference in Albany.
Our Supplier Diversity Program received recognition from several organizations in 2012:
- Professional Women in Construction Business Achievement Award
- U.S. Department of Commerce's Minority Business Development Agency's Corporate Supplier Diversity Award
- New York and New Jersey Minority Supplier Development Council Essential Piece Award
- Women President's Educational Organization Corporate Partners Award
- Minority Business News USA Magazine Ambassador for Supplier Diversity Award