THE PORT AUTHORITY OF NY & NJ

Press Release Article


PORT AUTHORITY SETS RECORD FOR INCLUSION OF MINORITY- AND WOMEN-OWNED SMALL BUSINESS ENTERPRISES IN AGENCY CONTRACTS IN 2015

Date: May 31, 2016
Press Release Number: 86-2016

MWSBEs received $315 million worth of contracts last year, representing a record 24 percent of total Port Authority contracts

The percentage of Port Authority contract awards for Minority, Women-owned and Small Business Enterprises (MWSBEs) increased significantly in 2015, representing nearly a quarter of all agency contract spending, the Port Authority announced today.

The agency is committed to increasing MWSBE participation, and the 2015 rate of 24 percent of total contracts is up from 18.3 percent and 17.3 percent in the prior two years, respectively. These businesses, which received a total of $315 million in Port Authority contracts last year, contribute substantial economic benefit to the Port District and the region, including supporting nearly 2,453 job-years and generating $154 million in wages and $531 million in regional economic activity.

"The results from 2015 are strong evidence that the Port Authority is committed to providing opportunity to regional MWSBE firms," said Port Authority Chairman John Degnan. "Their success across the Port District is an important stimulus to economic activity throughout the New Jersey and New York region."

"In rising toward Governor Cuomo's MWSBE participation goal of 30 percent, the Port Authority has made steady and substantial progress during the last three years. This report demonstrates that we are dedicated to meeting Governor Cuomo's higher standard. The region is reaping enormous benefits from this effort in the form of jobs and economic activity," said Port Authority Vice Chairman Steven M. Cohen.

The agency said the largest portion of the $315 million figure came from Port Authority prime and sub-contracts, which totaled $195 million. Roughly $66 million was from World Trade Center projects and $54 million from aviation tenants. Over the years of WTC rebuilding, approximately $1.3 billion worth of site contracts have gone to MWSBEs thus far.

Additional MWSBE and Disadvantaged Business Enterprises (DBE) activity from new WTC tenants and the agency's partners on the Goethals Bridge Modernization Program and the George Washington Bridge Bus Station project yielded $72.5 million in awards, which boosts the $315 million amount to $387.5 million. MWSBE programs are typically city or state designations, while DBEs are federal programs regulated by the U.S. Department of Transportation.

The Port Authority also continues to build the pipeline of qualified businesses through its Mentor Protégé Program, an initiative to increase the number of certified businesses big enough to bid successfully on larger constructions projects. Fifteen MWSBEs participated in 2015, with 67 of the businesses having participated in the program since 2002.

Contact:
The Port Authority of New York and New Jersey
212-435-7777

Founded in 1921, the Port Authority of New York and New Jersey builds, operates, and maintains many of the most important transportation and trade infrastructure assets in the country. The agency's network of aviation, ground, rail, and seaport facilities is among the busiest in the country, supports more than 550,000 regional jobs, and generates more than $23 billion in annual wages and $80 billion in annual economic activity. The Port Authority also owns and manages the 16-acre World Trade Center site, where the 1,776-foot-tall One World Trade Center is now the tallest skyscraper in the Western Hemisphere. The Port Authority receives no tax revenue from either the State of New York or New Jersey or from the City of New York. The agency raises the necessary funds for the improvement, construction or acquisition of its facilities primarily on its own credit. For more information, please visit http://www.panynj.gov.