PSEG Spends Record Level in 2015 with Diverse Suppliers

NEWARK, N.J., March 24, 2016 /PRNewswire/ -- Public Service Enterprise Group (PSEG) today hosted its 10th annual Supplier Diversity Procurement Fair, connecting New Jersey's diverse business community with the state's largest utilities. The event provides attendees the opportunity to network with prospective clients looking for specific products and services.

PSEG's Supplier Diversity Program achieved record results in 2015 with more than $380 million or 14 percent of PSEG's total supplier spend directed at minority, women and veteran-owned businesses, according to Ralph LaRossa, PSE&G's president. The company also helped the New Jersey economy in 2015 by spending more than $1.6 billion with other New Jersey based firms.

"Our spending with diverse suppliers has more than doubled over the last 10 years," said LaRossa. "Supplier diversity remains one of our most important programs, closely aligned with our strong commitments to our customers, our communities and the state of New Jersey. We've increased our investments to make our infrastructure more reliable and resilient, and in the process have created thousands of good-paying local jobs and a wealth of business opportunities in the state."

Participation from organizations such as the New Jersey Business & Industry Association, New Jersey Board of Public Utility Supplier Diversity Development, and other large companies such as New Jersey Resources, AT&T and Consolidated Edison, allows attendees to make new connections and strengthen their business.

Kurus Elavia, CEO of Gateway Security Inc., a minority-owned Newark firm that provides physical security services to PSEG, told the audience that PSEG's increased investment over the last year has helped his company grow and become the predominate security provider in Newark.

"Our recent award from an industry leader like PSEG was a strong addition to our top-line growth, creating career opportunities for our workforce and enhancing our brand capability within the energy and infrastructure market sector," said Elavia. "Having PSEG on our customer list translates to new opportunities and serves as strong testimonial for Gateway's capability to serve and protect other industries in New Jersey."

The event was co-sponsored by PSEG's partners, the New York & New Jersey Minority Supplier Development Council and the New Jersey BPU Supplier Diversity Development Council. These advocacy organizations are committed to assisting small, minority, and women-owned businesses develop relationships with companies throughout the region.

Public Service Enterprise Group (NYSE: PEG) is a publicly traded diversified energy company with annual revenues of $10.4 billion. Its operating subsidiaries are: Public Service Electric and Gas Company (PSE&G), PSEG Power, and PSEG Long Island.

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SOURCE Public Service Enterprise Group (PSEG)

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