Contracting, Procurement & Supplier Diversity
Reimagine Main Street
First published November 2023
Reimagine Main Street, in partnership with 14 other national business organizations, surveyed businesses about their experiences with corporate and government contracting. The results come out against a backdrop of significant Federal investments and a wave of litigation against diverse businesses, business diversity and efforts to increase contracting with diverse-owned and small businesses.
Contracting with the federal government and large corporations presents significant opportunities for diverse-owned and small businesses. The federal government is the largest consumer of goods and services in the world, spending more than $690 billion on contracts in FY 2022. Corporations spend 58% of their revenue on corporate contracts with suppliers.
At the same time, public and private sector investments in infrastructure, clean tech, and the reshoring of advanced manufacturing as a result of the Investing in America agenda are creating industries of the future and new on-shore supply chains. Growth, competitiveness, and resilience of the U.S. economy depend on integrating diverse-owned businesses into these new and emerging supply chains.