New York just hit an all-time high in its commitment to minority- and women-owned businesses — and the numbers back it up.
Governor Kathy Hochul announced the state spent $3.3 billion with certified MWBEs in the 2024–25 fiscal year, the largest amount ever recorded in program history. That total marks a 12% jump over last year and pushes New York’s MWBE utilization rate to 31.86%, surpassing its nation-leading 30% goal for the fifth straight year.
“This is what happens when we open doors to equal opportunity,” Hochul said in a statement. “With a record $3.3 billion in payments to MWBEs and a 31.86% utilization rate, we are proving — five years in a row — that equity and economic growth go hand in hand.”
A five-year streak of record-breaking equity
Since FY 2020–21, nearly $15 billion in state procurement dollars have been awarded to MWBEs. This year alone, over $10.4 billion in eligible spending was reported by state agencies and authorities, with $3.33 billion going to minority- and women-owned businesses — $1.72 billion to MBEs and $1.6 billion to WBEs.
The milestone comes just two years after the state eliminated a years-long certification backlog. Under Hochul’s leadership, New York has slashed processing times, introduced seasonal certification drives, and grown its certified MWBE directory to 9,745 firms.
Executive Director Jason M. Clark called the achievements historic but not final. “We are proud of recent accomplishments, but we are also well aware that there’s more to be done,” he wrote in the annual report’s opening letter.
New tools and policies expanding access
Key policy shifts helped drive this year’s record-setting performance. The state raised the discretionary purchasing threshold for MWBEs to $1.5 million — making it easier for agencies to award contracts without going through lengthy bidding processes.
The new “Certification Plus” pilot program also incentivizes prime contractors to partner with underutilized MWBEs, helping to expand access for firms that haven’t previously won state contracts. In parallel, New York more than doubled the size of its Business Growth Accelerator Program, which has created over $100 million in procurement opportunities since launching last year.
“By raising the discretionary purchasing threshold to $1.5 million and continuing to streamline certification, we are ensuring more MWBEs can compete, win, and thrive,” Hochul said.
Regional growth and outreach
The Division of Minority and Women’s Business Development held major outreach events across the state in FY 2024–25, including expos in Manhattan, Queens, and Syracuse that drew over 1,000 attendees. The team also participated in nearly 100 regional events and hosted webinars every month to boost business readiness and visibility.
The state also saw steady growth in certified MWBE firms across all ten economic development regions, with the highest concentrations in New York City, Long Island, and the Mid-Hudson area.
Breaking down barriers by the numbers
New York’s efforts didn’t just bring in more firms — they sped up access. Certification times now average under 90 days, and in some cases, decisions came in as few as 15 days thanks to campaigns like “Sail-Thru Summer,” “Whirlwind Winter,” and “Women Entrepreneurs Rising”.
For the first time, the program also began collecting detailed data on Asian American and Pacific Islander (AAPI) business owners, with 249 firms voluntarily reporting breakdowns by subgroup. Starting next year, Middle Eastern and North African (MENA) categories will be included too.
Julissa Gutierrez, New York’s Chief Diversity Officer, said the five-year streak of 30% utilization proves that equity is “not just an aspiration but an integral part of how New York State does business.”
Lawmakers back long-term commitment
The MWBE program is now officially extended through 2028 — giving businesses confidence to plan for the future and continue scaling up. Lawmakers who championed the reforms praised the state’s momentum and renewed commitment.
“Today’s announcement proves that when state leadership, advocates, and entrepreneurs work together, we deliver real economic impact,” said State Senator James Sanders Jr. “Every qualified MWBE deserves a seat at the table, and a share in New York’s prosperity.”
Assemblymember Rodneyse Bichotte Hermelyn added, “Governor Hochul has removed systemic barriers to success. Diversity in New York State is the backbone of not just our society, but our economy as well.”
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected].