New York City recorded its strongest year to date for contracting with minority- and women-owned business enterprises (M/WBEs) in Fiscal Year 2025, with $6.9 billion awarded across city agencies, officials announced on Thursday.
Mayor Eric Adams joined Chief Business Diversity Officer Michael J. Garner, Mayor’s Office of Contract Services Director Kim Yu and Department of Small Business Services Commissioner Dynishal Gross to mark the milestone. The results extend a run of consecutive record-breaking years for the city’s M/WBE programme.
According to City Hall, the FY 2025 outcomes put New York City on track to exceed Mayor Adams’s OneNYC target of $25 billion in M/WBE contracts by FY 2026, reaching the benchmark six months ahead of schedule. Under Local Law 1, which governs the programme, M/WBE utilisation reached 36.4 per cent, the highest rate in the programme’s history and more than five percentage points higher than the previous record set in FY 2024.
The city also reached a new high in total contract value awarded to M/WBEs under Local Law 1, with $2.2 billion awarded for the first time. In addition, nearly $350 million was distributed through the M/WBE Small Purchase method during FY 2025, a streamlined contracting process designed to improve access for smaller firms. The figure represents roughly double the amount awarded through the same method in FY 2023.
“When we came into office, we were clear that much more needed to be done to lift up our minority and women-owned businesses, which, for too long, were left behind in city contracting,” said Mayor Adams. “Today, we are proud to announce, yet another historic milestone with a record $6.9 billion in contracts awarded to M/WBEs last fiscal year and a record 36.4 percent utilization rate for M/WBEs — the highest-ever in the history of the program.”
Chief Business Diversity Officer Garner said the results show how inclusive contracting can deliver wider economic benefits. “With more than $24 billion awarded to certified minority-and women-owned businesses during the Adams administration, we continue to drive equity within communities of color who have historically been excluded,” he said.
Commissioner Gross highlighted the role of certification, financing and education programmes in supporting small businesses, while Kim Yu pointed to reforms aimed at improving transparency and efficiency across city procurement. Yu said the city remains focused on ensuring contracting processes provide sustainable access for M/WBEs.
The administration has also introduced structural changes to support long-term progress, including appointing the city’s first chief business diversity officer and signing Executive Order 34, which requires agencies to prioritise M/WBE participation, standardise data collection and expand real-time performance tracking.
