Trending...
- Rep. Gina H. Curry and Dr. Conan Tu Inspire at Kopp Foundation for Diabetes Hybrid Fundraising Gala and National Leadership Forum
- Mullins McLeod Surges Into SC Governor's Race with $1.4 Million Raised in First Quarter; Most from His Own Commitment, Not Political Pockets
- RNHA FL Unveils Bold New Leadership Ahead of 2026 Elections
CHICAGO--(BUSINESS WIRE)--A new economic impact study conducted by the Illinois Utilities Business Diversity Council (IUBDC) – including Ameren Illinois, Aqua, ComEd, Illinois American Water, Nicor Gas, People's Gas, and North Shore Gas – shows Illinois utilities' diverse supplier spend contributed $11.8 billion to the Illinois GDP from 2017-2020, with $4 billion in purchases from Illinois-based diverse businesses. From 2017 to 2020, the seven electric, gas and water utilities combined spent an average year-over-year increase of $576 million – more than a 28% increase each year on average.
Additionally, the IUBDC companies supported an average of nearly 20,000 jobs every year from 2017-2020, providing a total of $1.1 billion in employee wages.
"Businesses owned by people of color, women and veterans are playing a major role in the efforts of all Illinois utilities to modernize energy infrastructure, meet the evolving needs of customers, and support the transition to clean energy in Illinois," said Joe Dominguez, CEO of ComEd and 2021 Chairman of the IUBDC Board of Directors. "The IUBDC is evolving in its efforts to help diverse suppliers navigate the procurement process of Illinois utilities, providing mentorship and forging partnerships that lead to opportunities, which is more important than ever. These in-state businesses have the necessary capabilities, they just need an opportunity to demonstrate it."
More on illi News
In 2020, while companies in many sectors were forced to reduce staff due to the COVID-19 pandemic, IUBDC members spent nearly $2 billion with Illinois diverse suppliers, including $1 billion with minority-owned businesses – an increase of 104% from 2017; $831 million with women-owned businesses – a 58% increase from 2017; and $110 million with veteran-owned businesses – up 168% from 2017. Illinois Commerce Commissioner Maria Bocanegra said the IUBDC is making good on its promise when it was formed in 2015.
"The IUBDC has become a strong voice for diverse suppliers in Illinois and its members are national leaders in supplier and workforce diversity spend and initiatives," said Bocanegra. "We commend this effort to dig even deeper and assess the economic impact of increased spending with diverse suppliers, and we remain proud of the work, progress, and efforts the Council has undertaken since its inception."
ComEd, along with Ameren Illinois, Aqua, Illinois American Water, Nicor Gas, Peoples Gas and North Shore Gas, formed the IUBDC to advance the effectiveness of business diversity initiatives among their respective utility companies, and to encourage diverse businesses to forge effective working relationships with utilities. The goal of the IUBDC is to help develop a strong economy and create a productive environment for growth and access to diverse businesses. Since 2014, all electric, gas and water companies under the jurisdiction of the Illinois Commerce Commission with at least 100,000 customers report annually in April on their procurement goals and actual spending with diverse suppliers. The most recent numbers demonstrate IUBDC's effectiveness, according to Charles Matthews, president and CEO, Peoples Gas and North Shore Gas and former IUBDC chairman.
More on illi News
"The goal of this coalition was to come together and collaborate on additional ways to make a positive impact," said Matthews. "The IUBDC is proud to have a large impact when it comes to partnering with minority-owned, women-owned, and veteran-owned businesses and we will continue to look for new and innovative ways to continue to grow this impact."
For more information about the IUBDC and to view the full report, visit iubdc.com.
About the Illinois Utilities Business Diversity Council
The Illinois Utilities Business Diversity Council (IUBDC) members include Ameren Illinois, ComEd, Illinois American Water, Nicor Gas, North Shore Gas and Peoples Gas. The mission of the IUBDC is to provide Illinois utilities a forum for best practice sharing and information exchange with a focus on advancing the growth and utilization of utility-based diverse businesses in the state of Illinois.
Additionally, the IUBDC companies supported an average of nearly 20,000 jobs every year from 2017-2020, providing a total of $1.1 billion in employee wages.
"Businesses owned by people of color, women and veterans are playing a major role in the efforts of all Illinois utilities to modernize energy infrastructure, meet the evolving needs of customers, and support the transition to clean energy in Illinois," said Joe Dominguez, CEO of ComEd and 2021 Chairman of the IUBDC Board of Directors. "The IUBDC is evolving in its efforts to help diverse suppliers navigate the procurement process of Illinois utilities, providing mentorship and forging partnerships that lead to opportunities, which is more important than ever. These in-state businesses have the necessary capabilities, they just need an opportunity to demonstrate it."
More on illi News
- Stay Safe in Style: The DR. ORGANIZER Personal Purse Alarm Delivers Powerful Protection in a Compact Design
- The Tiny Kitchen Tool That Solves a Big Cooking Headache
- Why Every Dog Deserves a Milo's Choice Towel
- The Secret to Shoes That Actually Fit: Meet the Little Toe Guard
- $73.6M Pipeline, $10M Crypto Play & Legal Firepower: Why Investors Are Watching Cycurion (N A S D A Q: CYCU) Like a Hawk
In 2020, while companies in many sectors were forced to reduce staff due to the COVID-19 pandemic, IUBDC members spent nearly $2 billion with Illinois diverse suppliers, including $1 billion with minority-owned businesses – an increase of 104% from 2017; $831 million with women-owned businesses – a 58% increase from 2017; and $110 million with veteran-owned businesses – up 168% from 2017. Illinois Commerce Commissioner Maria Bocanegra said the IUBDC is making good on its promise when it was formed in 2015.
"The IUBDC has become a strong voice for diverse suppliers in Illinois and its members are national leaders in supplier and workforce diversity spend and initiatives," said Bocanegra. "We commend this effort to dig even deeper and assess the economic impact of increased spending with diverse suppliers, and we remain proud of the work, progress, and efforts the Council has undertaken since its inception."
ComEd, along with Ameren Illinois, Aqua, Illinois American Water, Nicor Gas, Peoples Gas and North Shore Gas, formed the IUBDC to advance the effectiveness of business diversity initiatives among their respective utility companies, and to encourage diverse businesses to forge effective working relationships with utilities. The goal of the IUBDC is to help develop a strong economy and create a productive environment for growth and access to diverse businesses. Since 2014, all electric, gas and water companies under the jurisdiction of the Illinois Commerce Commission with at least 100,000 customers report annually in April on their procurement goals and actual spending with diverse suppliers. The most recent numbers demonstrate IUBDC's effectiveness, according to Charles Matthews, president and CEO, Peoples Gas and North Shore Gas and former IUBDC chairman.
More on illi News
- Grammy award winning Cuban-Canadian artist Alex Cuba releases its 11th studio album, "Indole"
- Thread Advisory Group Launches to Help Retailers Turn Strategy Into Lasting Results
- QView Medical and Eve Wellness Announce Partnership to Advance Direct-to-Consumer Breast Cancer Screening With FDA-Approved AI
- New Article Reveals Common Pricing Pitfalls in Flooring Projects — And How to Avoid Them
- Airbus Defence and Space and Omnitronics Sign MoU to Advance Interoperability in Critical Communications
"The goal of this coalition was to come together and collaborate on additional ways to make a positive impact," said Matthews. "The IUBDC is proud to have a large impact when it comes to partnering with minority-owned, women-owned, and veteran-owned businesses and we will continue to look for new and innovative ways to continue to grow this impact."
For more information about the IUBDC and to view the full report, visit iubdc.com.
About the Illinois Utilities Business Diversity Council
The Illinois Utilities Business Diversity Council (IUBDC) members include Ameren Illinois, ComEd, Illinois American Water, Nicor Gas, North Shore Gas and Peoples Gas. The mission of the IUBDC is to provide Illinois utilities a forum for best practice sharing and information exchange with a focus on advancing the growth and utilization of utility-based diverse businesses in the state of Illinois.
Filed Under: Business
0 Comments
Latest on illi News
- MainConcept Completes Management Buyout to Become Independent Company
- LIB Industry Expands Full-Series Salt Spray Corrosion Test Chambers to Meet Global Testing Standards
- The Easy Way to Collect Every Wedding Photo from Your Guests - No App Needed
- REPRESENTATION REVOLUTION: FLM TV Network Launches as America's First Truly Diverse Broadcast Network
- Naperville Seeks Community Input to Update Bicycle and Pedestrian Plan
- MetroWest wellness: Holliston farmhouse spa unveils Centerpoint Studio
- Cancer Survivor Roslyn Franken Marks 30-Year Milestone with Empowering Gift for Women Survivors
- ENERGY33 Successfully Completes Second Engineering & Construction Management Contract for a 27MW STX Cogeneration Power Plant in Honduras
- Florida International University: "Psychiatry: An Industry of Death" Traveling Exhibit Educates Students on Mental Health Abuse
- CCHR: VA's Psychiatric Treatments Betray Veterans, Fuel Suicide and Death
- Integris Composites Named Armor Partner for U.S. Army's XM30 Combat Vehicle
- Jaipur Countryside, 4-Star Comfort: $199 for Two— All-Inclusive with Meals + Transfers at Heritage Hotel Savista
- Probate Shepherd® Announces a New Member Probate Attorney in Fort Worth, TX
- Phinge Announces "Test the Waters" Campaign for Potential Regulation A+ Offering: Home of Netverse Verified AI & Patented App-less Technology Platform
- RJ Grimshaw Launches "The AI EDGE" A Practical Guide Where Leadership Meets Innovation
- Inkdnylon Expands Chicago Embroidery Services to All 77 Communities
- Probate Shepherd® Announces a New Member Probate Attorney in Sugar Land, TX
- Live Good Leads with Love: Creating Opportunity, Protecting the Vulnerable and Inspiring Hope
- It's Nearly Here! West Loop Contemporary Fine Art Expo Oct. 17-19
- Probate Shepherd® Announces a New Member Probate Attorney in The Woodlands, TX