The New Jersey Chamber of Commerce has expressed approval for new legislation aimed at addressing findings from a recent disparity study. The study highlighted the need for more equity in government contracting for Minority and Women-Owned (MWBE) businesses.
Thomas Bracken, President and CEO of the New Jersey Chamber of Commerce, emphasized the importance of this initiative: "We applaud the legislature for introducing legislation to address the alarming findings in the disparity study, which recognized the need for more equity in government contracting for Minority and Women-Owned (MWBE) businesses."
The study's findings have been echoed by those affected and align with one of the Chamber’s economic priorities, which calls for equal opportunities for MWBEs in securing both public and private sector contracts. According to Bracken, increasing supplier diversity spending with MWBEs has broad economic and social benefits, including enhancing competition, encouraging innovation, increasing job creation, and supporting communities.
"Solving for this inequity in a timely manner is what is best for New Jersey and its residents," Bracken added.
While some bills within the legislative package have garnered support from the Chamber, other proposed changes to state contracting are still under review. "We are reviewing and assessing other bills that might impact our membership due to proposed specific changes to state contracting," said Bracken.
He also stressed the need for continued dialogue between various stakeholders: "We believe there also needs to be ongoing constructive dialogues and collaborations between the Administration and our business community colleagues to develop additional solutions that remedy the inequities that exist."
—Thomas Bracken, President & CEO, New Jersey Chamber of Commerce
