PSEG Spends Record Level in 2016 with Diverse Suppliers

NEWARK, N.J., March 28, 2017 /PRNewswire/ -- Public Service Enterprise Group (PSEG) today hosted its 11th annual Supplier Diversity Procurement Fair at the Robert Treat Hotel in Newark, 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 2016 with $472 million or 17 percent of PSEG's total supplier spend directed at minority-, women- and veteran-owned businesses, according to Derek DiRisio, president-PSEG Services Corporation. The company also helped the New Jersey economy in 2016 by spending nearly $2 billion with other New Jersey-based firms.

"Our spending with diverse suppliers in 2016 was almost $200 million more than we spent just two years earlier," DiRisio said. "Our partnerships with diverse suppliers are critical to our company's competitiveness, our quality and, ultimately, our success. Supplier diversity has been a part of the PSEG culture for more than 25 years, and we're proud that we've been able to do more with this business community than ever before – and that is reflected in our numbers."

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

"Hosting an annual Supplier Diversity Procurement Fair like this one provides PSEG with an important opportunity to connect with our business community – to begin new relationships and strengthen existing ones with regional diverse suppliers, particularly those who are headquartered here in New Jersey," said Brian Clark, PSEG's vice president-procurement. "Continuing to develop our relationships with diverse suppliers will remain a goal of ours in 2017 and beyond."

Jill Draper, president of Marketsmith Inc., a women-owned and WBE-certified integrated marketing services agency headquartered in Cedar Knolls, N.J., told the audience that clients such as PSEG, who seek out diverse suppliers, have helped her company become one of the fastest-growing integrated marketing services agencies in the U.S.

"When Marketsmith was named PSE&G's and PSEG Long Island's agency of record for the New Jersey and Long Island service areas one year ago, we used the responses of real consumers to underscore how much more the company does than merely turn the lights on," Draper said. "This event is a strong testimonial to PSEG's commitment to providing the business community with broader access to economic opportunities. And that, in turn, translates to career opportunities for our workforce."

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-, women- and veteran-owned businesses develop relationships with companies throughout the region.

Public Service Enterprise Group (PEG) is a publicly traded diversified energy company with annual revenues of $9.1 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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