Investing in Diverse Suppliers
Con Edison contributes to the economic strength of the communities we serve by creating opportunities for minority- and women-owned businesses. These suppliers help our company deliver safe, reliable, and sustainable energy to our customers. Over the past decade, we have invested nearly $3 billion in work with minority- and women-owned companies.
2015 Contract Awards
- $6.8 million in contracts to a minority-owned business for safety equipment and clothing
- $10 million in contracts to minority-owned businesses for site-safety work
- $25 million in contracts to a woman-owned business for information-technology staffing
- $18 million contract to a woman-owned business for freight-logistics services
- $1.5 million contract to a minority-owned business for live gas-construction work
- $3.4 million contract to a woman-owned business for demand-management advisory services to enable our customers to reduce their energy use
Financial ServicesWe expanded our support of diverse suppliers in nontraditional areas such as financial services and insurance. Two minority-owned firms managed $1 billion of U.S. small-cap and U.S. large-cap equity funds for Con Edison. We also hired two minority firms as co-managers/underwriters in bond transactions worth $650 million. We retained one broker to handle our business travel and employee crime insurance, and another to handle our liability and property insurance.
Developing Diverse Suppliers
In order to develop a pipeline of competitive minority- and women-owned businesses, we have worked with local community groups as well as local and national trade associations, including:
- New York and New Jersey Minority Supplier Development Council
- Women Presidents' Educational Organization
- New York City Department of Small Business Services' Corporate Alliance Program/Columbia University Construction Mentorship Program
- Regional Alliance Clearinghouse for Small Contractors
- Goldman Sachs 10,000 Small Businesses program and Procurement Technical Assistance Centers affiliated with LaGuardia College
- South Bronx Overall Economic Development Corporation
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