Mayor Raises Goal for City M/WBE Contract Awards by $4B

File photo: New York City Mayor Bill de Blasio

NEW YORK CITY—After registering $1.8 billion more in M/WBE contract awards than he originally projected, New York City Mayor Bill de Blasio has set a new lofty seven-year target.

The mayor announced on Wednesday that the city is two years ahead of schedule in terms of meeting his OneNYC goal of awarding $16 billion to minority and women-owned businesses by the end of fiscal year 2025. Based on the fact that the city has already awarded approximately $7.8 billion in M/WBE contracts since the initiative was established in 2015, the mayor is now increasing the OneNYC goal by $4 billion to a $20 billion target by the end of FY 2025.