Mayor Eric Adams and senior administration officials applauded Gov. Kathy Hochul’s signature of legislation (A.10459/S.9351) co-sponsored by State Sen. James Sanders Jr. and Assemblymember Rodneyse Bichotte Hermelyn, increasing opportunities for minority and women-owned business enterprises (M/WBEs) to contract with the city.
By increasing the threshold limit of city contracts that can utilize the city’s M/WBE non-competitive procurement method from $500,000 to $1,000,000, M/WBEs will now be able to more effectively compete for larger contracts, expanding their work with the city.
The new state law, signed Thursday, Oct. 6, 2022, comes just weeks after Mayor Adams announced New York City surpassed its 10-year OneNYC goal to award $25 billion in contracts to minority- and women-owned business enterprises (M/WBE) by Fiscal Year (FY) 2025—three years ahead of schedule.