Res 0531-2024

Whereas, Business ownership is a significant source of household wealth creation; and Whereas, Women and members of many racial minorities are underrepresented in the ranks of New York State's business owners, according to data from the State Comptroller; with only 23.2 percent of the state's firms owned by women, who account for half the state's population; 5.9 percent of firms owned by Hispanics, who are 19.5 percent of the state's population; and 3.4 percent of firms owned by Blacks, who are 14 percent of the state's population; and Whereas, Programs to direct public contracts to minority and women-owned business enterprises (MWBEs) can provide a substantial source of revenue to those firms which might otherwise struggle to attract business in sectors dominated by white, male-owned legacy companies; and Whereas, Duplicative certification processes for MWBEs to be eligible for contracts at the state and city level may discourage eligible companies from seeking as many opportunities for public contracts as possible; and Whereas, During the 2023-2024 legislative session, New York State Assemblymember Amanda Septimo and New York State Senator James Sanders, introduced A.10324-A and S.8139-A, respectively, which would have authorized the New York State Director of the Division of Minority and Women's Business Development and the Mayor of the City of New York to enter into a memorandum of understanding to allow reciprocity between the state and city for businesses that are certified as minority and women-owned business enterprises; and Whereas, S.8139-A passed the senate and was delivered to the assembly on June 6, 2024 but did not pass the assembly; now, therefore, be it Resolved, That the Council of the City of New York calls on the New York State Legislature to reintroduce and pass, and the Governor to sign legislation, which would establish reciprocity between New York City and State registries of Minority and Women-owned Business Enterprises (MWBEs). AY LS #17370 8/6/2024 WJH LS#17370 10/25/25