The latest report on the Equal Business Opportunity Program for Fiscal Year 2024 has been released, detailing the program’s progress and effectiveness in fostering race and gender-specific equal business opportunities. The report covers the period from July 1, 2023, to June 30, 2024, and highlights significant achievements in proposed spending and subcontract participation with minority and women-owned firms.
During this period, proposed spending with black and brown-owned firms reached $85 million, marking an increase of $13 million or 18% compared to Fiscal Year 2023. Similarly, spending with women-owned firms saw a substantial rise to $98 million, a $59 million or 151% increase over the previous fiscal year. Payments to Minority Business Enterprises (MBE) and Women Business Enterprises (WBE) subcontractors amounted to $44.8 million, reflecting a $6.6 million or 17% increase from Fiscal Year 2023.
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The report also notes that the average proposed subcontract participation for black and brown-owned firms was 9%, while women-owned firms had an average participation of 7%. Additionally, 62% of contracts completed in Fiscal Year 2024 met or exceeded the market availability for MBEs, and 87% of contracts in Fiscal Year 2023 met or exceeded the market availability for WBEs.
For more information or inquiries about the report, individuals can contact the relevant department via email at [email protected]. Further details of the report can be accessed through the following link: The Equal Business Opportunity Program Report.
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