20 Aug What is an MWBE
MWBE stands for Minority and Women-Owned Business Enterprises. This program was enacted to ensure that jobs reach qualified business owners that may otherwise be overlooked. On July 25th, 2019 Governor Cuomo extended and expanded the program in the State of New York.
“Diversity is New York’s greatest asset, and by signing this measure into law we will empower more women and people of color to participate in State contracts and continue our aggressive program to make contracting even more inclusive.” – Governor Cuomo
The MWBE program, designed to make New York’s economy more inclusive by requiring MWBE participation in State contracts, was due to expire at the end of 2019. The reauthorization extends the program until 2024 and amends the law to make it easier for more MWBEs to participate and to give all participating businesses greater benefits.
The new terms include:
- Extending the term of MWBE certification from 3 years to 5 years
- Increasing agency and authority discretionary purchasing threshold from $200,000 to $500,000 without a formal competitive process
- Increasing the Personal Net Worth cap from $3.5 million to $15 million to make more businesses eligible
- Authorizing the Division of MWBE to organize outreach events, training and educational opportunities for MWBE firms across the state
- Establishing a Workforce Diversity Program that requires State agencies overseeing construction projects to utilize a diverse workforce; among additional new terms
Currently, it can take up to 18 months or more for a business to be approved for MWBE status. The expansion will include significantly shorter wait times.
Interested in becoming an official MWBE? Here are the requirements: REQUIREMENTS.
Advokate has been a certified MWBE since July of 2018 and has reaped the benefits of being a member. We have been able to get contracts that are fulfilling, rewarding and would have been otherwise outside the scope of our radar. This initiative has helped us foster connections within our community and reach into other areas of New York State.