How Will Local Law 1 Affect Your Business?

By the New York City Department of Small Business Services, Division of Economic and Financial Opportunity

Local Law 129 of 2005

In 2005, Mayor Bloomberg signed Local Law 129, which established participation goals for minority and women-owned business on City contracts. Local Law 129 helped increase the number of M/WBE firms certified to participate in the City?s program from 700 to more than 3,500, with certified firms winning more than $3 billion in City contracts.

Local Law 1 of 2013

On January 7, 2013, Mayor Bloomberg signed new legislation to help strengthen the minority and women-owned business enterprise program. Local Law 1, formerly Local Law 129, will:

? ? ? I.???????? Eliminate the $1 million Cap

The removal of the cap increases the total value of program-eligible contracts almost five-fold, from $433 million to $2.2 billion.? Over 38,000 contracts are covered by the new goals program.

? ? II.???????? Expand Certification Programs

There are new requirements to collect more information from business owners regarding their ability to perform on contracts.? Field audits are also mandated to confirm program eligibility.

? III.???????? Establish a CompStat Accountability System

Agency officers will be required to report quarterly to both City Council and a mayoral designee on their progress towards meeting agency M/WBE goals.

? IV.???????? Improve the Online Directory of Certified Firms

The enhanced directory will allow firms to update their business information online in real time.? More business information will be published such as insurance and bonding information and more robust descriptions of recent work experience. www.nyc.gov/buycertified

 

Selling to Government

New York City Department of Small Business Service offers M/WBEs selling to government services that help them navigate the City?s procurement system and provide them tools to compete and perform on contracting opportunities.

Geographic Market

The MWBE program will certify companies from 13 counties. These counties include 10 in New York State (five NYC Counties, Putnam, Rockland, Westchester, Nassau, and Suffolk) and 3 in New Jersey (Passaic, Bergen, and Hudson).

 

Posted in What's New For Small Business.