The New York State government announced it will provide $3.3 billion to support women- and minority-owned businesses (MWBE) during fiscal year 2024–25, a record-breaking amount for the state program.

This achievement appears in the Report Annual 2025 and confirms that the initiative continues to grow and strengthen the participation of entrepreneurs who have historically faced barriers to accessing public contracts. Governor Kathy Hochul celebrated this progress, emphasizing that New York not only reached its goal of 30% MWBE utilization, but exceeded it for the fifth consecutive year with a rate of 31.86%. For the state administration, this level of participation demonstrates that economic inclusion policies are yielding visible results in creating real opportunities. “New York is leading the nation in empowering minority and women-owned businesses, and these results show what happens when we open the doors to equal opportunity,” Governor Hochul stated. She also affirmed that, with record payments and the increase in the discretionary purchasing threshold to $1.5 million, more certified businesses are being ensured “to compete, win, and thrive.” One of the key drivers of growth has been the elimination of the backlog in MWBE certifications. The Division of Minority and Women’s Business Development reduced processing times to less than 90 days, with some cases resolved in as little as 30 days. This change has allowed more businesses to quickly integrate into the state procurement system. The program reported several achievements. The state now has 9,745 certified businesses. During the last fiscal year, 2,225 certifications and recertifications were completed. Since 2020, state spending on MWBEs has reached nearly $15 billion. Furthermore, last year's investment represents a 12% increase compared to the previous period.An expanded demographic reporting system was also implemented, including voluntary data from the AAPI community. “Achieving our 30% goal for five consecutive years demonstrates that creating opportunities for our entire diverse business community is not just an aspiration, but an integral part of how New York does business,” said Julissa Gutierrez, the state’s chief diversity officer. “The remarkable growth we are seeing—a 12% increase in MWBE spending over last year—reflects the strength and capability of New York’s diverse business community,” said Hope Knight, president and CEO of the Division. She added that the Business Growth Accelerator Program generated $106 million in hiring opportunities, transforming how small businesses access the state market. Community outreach also played a significant role. The Division hosted Opportunity Expos in Syracuse, Manhattan, and Queens, with more than 1,000 attendees. There were monthly training sessions and nearly 100 regional events to facilitate connections and guide new applicants.

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