SEPTEMBER 30, 2024 05:05 PM ET

By

Angelique Molina-Mangaroo

The Metropolitan Transportation Authority and Gov. Kathy Hochul announced an investment of $6.5 billion to 7.5 billion into underserved businesses as part of the agency’s 2025-2029 capital plan. The funding will go towards state certified minority and women-owned business enterprises, service-disabled veteran-owned businesses and disadvantaged business enterprises.

“We announced our next five-year Capital Plan this month, said MTA Chair and CEO Janno Lieber, “and there’s a lot of work to be done.”

“When we talk about rebuilding and improving the transit system, this includes billions of dollars of work to be done by our diverse contracting community,” Lieber explained at the announcement during the MTA’s “Meet the Primes” networking event at the CUNY Graduate Center in Manhatta on Monday. “As the fourth largest employer in the region, the MTA is proud to partner for an equitable and inclusive economy.”

The MTA has exceeded its MWBE goal four years in a row of 30% participation each year, the largest investment of all public agencies.

In 2022, the MTA started a local hiring pilot program that was enabled by President Biden’s Bipartisan Infrastructure Law. This program led to the hiring of hundreds of people for projects in Brooklyn and Queens, according to the agency.  A year later, the MTA awarded $813.5 million in contracts to 500 MWBE’s, accounting for 37% of all contracts. And in March, Hochul and the MTA signed the “Equity in Infrastructure Project Pledge,” which ensures that $1 billion will be invested into MWBE’s and disadvantaged businesses, while the number of firms the MTA works with.

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