Tracking Minority Contracting
All told, the agencies allocated nearly $700 million in providing new contracts to minority and women firms in 2011 out of a total of about $3.8 billion spent with all contractors. The FDIC by far invested the most at $416.5 million, representing 29.8% of the $1.4 billion total contracts awarded. The U.S. Department of the Treasury spent $50 million with minority-owned businesses, 20% of total contracts with more than half awarded to black-owned firms and $26 million with women-owned firms, in fiscal year 2011. The Office of the Comptroller of the Currency dispensed more than a combined $66 million to both groups, or 38.4% of OCC’s total spend.
