PSEG Sets New Record for Spending with Diverse Suppliers in 2018
Annual Supplier Diversity Procurement Fair connects hundreds of
minority-, women- and veteran-owned businesses with large
New Jersey-based companies
(NEWARK, N.J. – March 12, 2019) -- Public Service Enterprise Group (PSEG) today hosted its 13th annual Supplier Diversity Procurement Fair, bringing together representatives of New Jersey's diverse business community and the state's largest utilities. The event offers minority-, women- and veteran-owned businesses an opportunity to meet with prospective buyers and discuss their products and services.
During 2018, PSEG set a new company record for the sixth consecutive year by buying more than $575 million worth of goods and services from diverse suppliers, an 8 percent increase over 2017. More than 20 percent of company’s purchases were with diverse vendors. In total, PSEG did $2.2 billion worth of business with New Jersey-based companies in 2018, helping to drive the state’s economy.
“We have more than tripled our expenditures with diverse suppliers over the past decade,” PSE&G President and Chief Operating Officer David Daly said. “Supplier diversity is one of PSEG’s most important programs and is very closely aligned with our commitments to our customers, the communities we serve and the entire state of New Jersey.”
More than 67 organizations took part in the event, including a number of business resource groups – the New Jersey Business & Industry Association, the New Jersey Association of Women Business Owners, the New Jersey African American Chamber of Commerce and the Statewide Hispanic Chamber of Commerce. A number of large purchasers took part, as well, including the Port Authority of NY & NJ, New Jersey Natural Resources, Consolidated Edison and NJ Transit.
“The annual Supplier Diversity Procurement Fair helps PSEG to build and maintain relationships with diverse suppliers and we believe it helps develop their businesses,” said Christine Neely, PSEG’s vice president-procurement. “New Jersey’s diversity is an asset. Our company’s diversity is also a valuable asset, reflected by our growing number of diverse suppliers.”
Nelson Ferreira, president and CEO of Ferreira Construction Co., a highly regarded minority-owned infrastructure construction firm, shared his company’s experience as a regular business partner with PSEG.
“Our company’s partnership with PSEG is among the most valuable relationships we have,” Ferreira said. “PSEG is incredibly important to the strength of New Jersey’s economy, its communities and its workforce. And by prioritizing relationships with minority-, women- and veteran-owned companies like ours, PSEG has shown that it is truly committed to all of New Jersey.”
Bart Gaskey, senior vice president of strategic market development, North America, for ABB Power Grids, one of PSEG’s longtime prime suppliers, spoke about his company’s commitment to hiring a diverse workforce.
“We are extremely proud of our ongoing strategic partnership with PSEG and the opportunity to demonstrate our commitment to diversity in our New Jersey workforce, as well as our supplier network,” Gaskey said.
The event was co-sponsored by PSEG's partners, the New York & New Jersey Minority Supplier Development Council and the New Jersey BPU Supplier Diversity Development Council. These advocacy organizations are committed to assisting small minority-, women- and veteran-owned businesses develop relationships with companies throughout the region.
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Public Service Enterprise Group Inc. (PSEG) (NYSE: PEG) is a publicly traded diversified energy company with approximately 13,000 employees. Headquartered in Newark, N.J., PSEG's principal operating subsidiaries are: Public Service Electric and Gas Co. (PSE&G), PSEG Power and PSEG Long Island. PSEG is a Fortune 500 company included in the S&P 500 Index and has been named to the Dow Jones Sustainability Index for North America for 11 consecutive years (https://corporate.pseg.com/).