Program Expanded Opportunities for Small and Diverse Businesses in San Diego
San Diego Gas & Electric (SDG&E) has been making waves in the local business community with its procurement program, which generated a whopping $2.59 billion in direct economic impact in 2023. The program, aimed at serving the 3.7 million residents in its service area with clean, safe, and reliable energy infrastructure, has contracted with over 2,000 businesses to achieve this impressive milestone.
San Diego Gas & Electric (SDG&E) has been making waves in the local business community with its procurement program, which generated a whopping $2.59 billion in direct economic impact in 2023. The program, aimed at serving the 3.7 million residents in its service area with clean, safe, and reliable energy infrastructure, has contracted with over 2,000 businesses to achieve this impressive milestone.
Boosting Economic Prosperity Through Diversity
One of the standout achievements of SDG&E's procurement program is its commitment to diversity. More than 43% of the company's total expenditures in 2023 were with diverse suppliers, including enterprises owned by minorities, women, LGBT individuals, service-disabled veterans, and persons with disabilities. This commitment to diversity has not only helped promote economic prosperity but has also created opportunities for small businesses to thrive in the region.
Exceeding Expectations
In its annual supplier diversity report submitted to the California Public Utilities Commission (CPUC), SDG&E revealed that nearly 600 diverse suppliers did business with the company in 2023. This spending with diverse businesses reached $450.6 million in San Diego County and $950.7 million in California, surpassing the CPUC's supplier diversity goal for the 19th consecutive year. This impressive track record showcases SDG&E's dedication to championing diversity, equity, and inclusion in its business practices.
Empowering Small Businesses
SDG&E's procurement program covers a wide range of goods and services, providing opportunities for small and diverse businesses to grow and thrive. From vegetation management to IT services, the company has been instrumental in helping many small businesses evolve into prime contractors. By engaging diverse primes like Rancho Tree Service, SDG&E is not only fostering economic growth but also creating a ripple effect in the community.
Making a Difference in the Local Economy
Large corporations like SDG&E play a crucial role in driving economic growth and sustainability in the region. By directing more spending locally, major companies can create thousands of jobs and inject millions of dollars into the local economy. Mark Cafferty, president and CEO of the San Diego Regional Economic Development Corporation, emphasizes the importance of supporting businesses like SDG&E to stimulate economic prosperity in the region.
Looking Towards the Future
SDG&E remains committed to growing its diverse supplier pool through collaborations with community-based organizations and business associations. By continuing to champion diversity and inclusion in its procurement practices, the company is paving the way for a more equitable and prosperous business landscape in San Diego.
In conclusion, SDG&E's procurement program is not just about business transactions; it's about creating opportunities, fostering growth, and making a lasting impact on the local community. Through its commitment to diversity and inclusion, SDG&E is setting a powerful example for businesses across the region.
Hey there, I'm Mohamed Rahat, your go-to writer for all things business and economy. Originally from Mumbai, now rocking it in Navi Mumbai. With a past life at Tata Power Co. Ltd., I'm here to unravel the mysteries of the economic world, one article at a time. Stick around for some mind-bending insights! Connect With Me