DETROIT, Jan. 16, 2013 /PRNewswire/ -- DTE Energy announced that it exceeded its target for spending with Michigan-based companies last year as part of its ongoing commitment to the Pure Michigan Business Connect Initiative.
Through December 2012, DTE Energy spent $826 million with Michigan-based suppliers, compared with $598 million spent in 2011 and $475 million in 2010. Spending with Detroit-based companies rose to $121 million last year, compared with $98 million in 2011 and $81 million in 2010.
Overall, DTE Energy increased its overall supply chain expenditures to $1.9 billion, which resulted in the creation of nearly 7,000 full-time jobs in Michigan last year. In addition to its focus on actively seeking Michigan suppliers, DTE Energy also is increasing awareness around its spending with Detroit-based suppliers.
"It's clear that Michigan has fared better than many other states in recent years, and the movement to doing more business with Michigan companies is part of the reason why," said Gerry Anderson, chairman, president and CEO of DTE Energy. "It makes economic sense to keep our dollars in Michigan, whenever possible, and I would encourage every Michigan-headquartered company to do just that."
In 2011, DTE Energy pledged to shift an incremental $750 million over five years to do business with Michigan-based suppliers as part of this initiative. The initiative was part of an $8 billion public-private program announced by Michigan Gov. Rick Snyder at the Detroit Regional Chamber's Mackinac Policy Conference that same year. The program was designed to help Michigan suppliers provide improved services to companies across the state.
Since Gov. Snyder's announcement, DTE Energy has spent more than $1.4 billion with Michigan suppliers. DTE Energy continues to develop significant areas of growth with its suppliers in the areas of construction, pipeline construction and maintenance, engineering, energy optimization, renewable energy, natural gas storage and IT consulting services.
The Pure Michigan Business Connect Initiative, which is administered through an alliance with the Michigan Economic Development Corporation (MEDC), also helps companies find new ways to raise capital, get access to a variety of business services and provides business-to-business procurement opportunities.
"We applaud DTE Energy's commitment to doing business in Michigan with Michigan suppliers," MEDC President and CEO Michael A. Finney said. "DTE is definitely a key driver behind the success of the Pure Michigan Business Connect Initiative and the positive impact it is having on our economy."
DTE Energy (NYSE : DTE ) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric utility serving 2.1 million customers in Southeastern Michigan and a natural gas utility serving 1.2 million customers in Michigan. The DTE Energy portfolio also includes non-utility energy businesses focused on power and industrial projects, unconventional gas production and energy trading. Information about DTE Energy is available at dteenergy.com, twitter.com/dte_energy and facebook.com/dteenergy.
SOURCE DTE Energy