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City disparity study finds significant underutilization of minority‑owned firms; staff to draft legislation to adopt recommendations
Summary
Consultants told the Finance and Economic Development Standing Committee May 21 that Richmond substantially underutilized minority‑owned firms in city contracting between FY2017 and FY2021, awarding MBEs 3.43% of contracting dollars while estimating 17.93% availability in the market.
The Finance and Economic Development Standing Committee received a presentation May 21 on the City of Richmond's disparity study and the consulting team's findings that minority‑owned businesses (MBEs) are substantially underutilized in the city's contracting.
Nam (Bernetta) Mitchell of MGT Consulting presented the study, which analyzed five fiscal years (FY2017–FY2021) of city procurement data alongside qualitative interviews and private-sector comparisons. "In our analysis of that data, we identified that 3.43% of the total dollar spent both at the prime and subcontracting level, was awarded or paid to MBE firms, during that study period," Mitchell said. The consultants estimated MBEs make up roughly 17.93% of firms available in the city's 14‑county relevant market,…
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