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10/1/2024
Metropolitan Transportation Authority (MTA) in New York City yesterday announced its commitment to award up to $7.5 billion in contracts to historically underutilized businesses as part of the agency's 2025-2029 capital plan.
An estimated $6.5 billion to $7.5 billion in contracts will be awarded to state minority and women-owned businesses (MWBE), service-disabled veteran-owned business (SDVOB) and/or disadvantaged business enterprises (DBE).
The announcement coincided with an industry event held at the City University of New York Graduate Center attended by over 250 businesses, including MTA prime contractors, potential subcontractors, and graduates of the MTA small business development program, MTA officials said in a press release.
MTA expects to add 350 new businesses to its small business mentoring program over the next five years, with plans to provide contracts up to $400 million to the businesses as part of the next capital plan. The authority also intends to add local hiring goals to contracts in the capital plan.
“When we talk about rebuilding and improving the transit system, this includes billions of dollars of work to be done by our diverse contracting community,” said MTA Chair and CEO Janno Lieber.
In 2023, 37% of MTA contracts were awarded to MWBE, a record in the state, said MTA President of Construction and Development Jamie Torres-Springer. That amounted to $813.5 million in contracts spread across 500 firms.