MINNEAPOLIS (Feb. 2, 2016) — The University of Minnesota announced Tuesday the realignment of thresholds for which it requires majority owned businesses to engage women, minority, and business owned by disabled persons (WMDBEs) for sub contractual opportunities on University of Minnesota purchases.Prior to Jan. 1, 2016 the thresholds for the engagement and utilization of WMDBEs for Goods and Services contracts was $500,000. The new Threshold for the engagement of WMDBEs is $50,000 for all University of Minnesota Goods and Service purchases.
Under the new policy, the Targeted Business Program requires that a contractor, as a condition of bidding on any goods and service purchase where the aggregate project sum exceeds $50,000, present objective evidence demonstrating their commitment to achieve meaningful levels of participation of targeted businesses as subcontractors and suppliers.
The University of Minnesota Office for Business and Community Economic Development (BCED) is laser focused on increasing the utilization of WMDBEs in the University’s supply chain. In FY 2015 U of M’s total spend with WMDBE suppliers increased by $13 million dollars from $46 Million in FY 2014 to $59 Million in FY 2015. In construction, the University experienced a 14 percent increase and spent $43 Million dollars with WMDBE firms, up from $28 million in FY 2014.
“Lowering these thresholds aligns our policies and our mission. By reducing the threshold by $450,000, the number of opportunities for WMDBEs to do business University will increase dramatically.” said Darryl A. Peal, executive director, University of Minnesota Office for Business and Community Economic Development.
The University of Minnesota thresholds and policies for construction will remain the same. The University of Minnesota Targeted Business Program for construction projects requires that a contractor, as a condition of bidding on any construction contract where the aggregate project sum exceeds $100,000, present objective evidence demonstrating: (1) its past record and continuing commitment to achieve meaningful levels of participation of targeted businesses (WMDBEs) as subcontractors and suppliers; and (2) its commitment to achieve meaningful levels of employment of minorities, women and disabled persons.
If you are a WMDB and are interested in doing business with the University of Minnesota register for MBid by going to http://purchasing.umn.edu/
- Central Certification (CERT) Program
- National Minority Supplier Development Council, Inc. (NMSDC)
- North Central Minority Supplier Development Council (NCMSDC)
- State of Minnesota Department of Administration
- U.S. Small Business Administration (SBA)
- Women’s Business Enterprise National Council (WBENC)
