More City Money For Minority, Women-Run Businesses Under New Law

QUEENS, NY -- New York City's minority and women entrepreneurs could see more money from city projects this year, thanks to a new state law making it easier for them to get involved.

The law, sponsored in part by Queens Assemblywoman Alicia Hyndman, will allow New York City to spend up to $150,000 on contracts with Minority and Women-Owned Business Enterprises without making them bid on it first.

Gov. Andrew Cuomo signed the legislation in late December to raise the city's discretionary spending limit for MWBE-provided goods and services from its previous cap at $20,000.

The extra dollars funneled into that budget will give minority and women entrepreneurs a shot at work from city-funded projects without having to go through the time consuming -and ofter paperwork heavy - process of bidding for a contract, said Citywide MWBE Director Richard Bury.

"This is a huge step forward for minority and women business owners seeking to expand and sustain their businesses so that they can reinvest in their local communities and hire local community members," Bury said.

The new law will also allow the City to consider a firm’s status as an MWBE while evaluating them for a work contract, along with their record of complying with existing labor standards, maintaining good labor relations and protecting workers' safety.

"This new authority will mean less time focused on bureaucratic paperwork and more time focused on expanding business," Mayor Bill de Blasio said of the legislation.

Hyndman was not immediately available for comment.

Lead image via Shutterstock.