August 1, 2011
By Jacob Gershman
A Bloomberg administration initiative intended to help minority- and women-owned companies secure more public contracts has steered little money to black-owned firms, according to city data.
In the last year and a half, about three-quarters of city dollars paid to contractors participating in the program went to companies owned by either Asian Americans or white women. Businesses run by Latinos received 15% of that pool of money.
The smallest share, 7%, went to black-run firms.
“It’s a shockingly paltry amount,” said city Comptroller John Liu, a first-term Democrat.