PSEG sets new record for spending with diverse suppliers in 2018

Photo Courtesy of PSEG
On March 12, PSEG hosted its 13th annual Supplier Diversity Procurement Fair.

NEWARK, NJ — PSEG hosted its 13th annual Supplier Diversity Procurement Fair on March 12, 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 from 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, including 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 of 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.”