FY22 Economic Development and Equitable Procurement
The mission of the Economic Development Cabinet is to promote inclusive economic growth, ensuring that Boston residents, women, and people of color share in our city’s prosperity. In FY22, the Cabinet's budget includes investments to stimulate a robust reopening and recovery and move forward from the COVID-19 pandemic as a stronger, more resilient, and more equitable city.
In 2019, the City announced an executive order to ensure the full participation of all enterprises in City spending, focused on small, local minority- and women- business enterprises (MWBEs) and veteran-owned businesses. The order identified the need for a public-facing small business directory and a training program for City employees and departments. In addition, as part of FY22 budget development, departments submitted procurement plans that prioritize equitable business practices.
The City is committed to helping MWBEs and veteran-owned small businesses recover from the impacts of COVID-19. To fulfill this commitment, the FY22 budget sustains initiatives and positions that support implementation of the equitable procurement executive order:
- $750,000 to launch the Boston Contracting Opportunity Fund, which will help small businesses build capacity so they can bid for City contracts
- $250,000 for enhanced technical assistance to help small businesses through the certification process
- Funding for workshops on insurance and bonding
- Increased capacity in the Office of Economic Development in areas such as business certification, compliance, construction monitoring, supplier diversity, loan management, and data analysis
- Support from the Administration and Finance Cabinet in guiding strategic procurement efforts
Reopening the City
In this time of economic uncertainty, the City of Boston recognizes the need to provide additional support to those hit hardest by the COVID-19 pandemic. With investments in economic inclusion and equity, Boston will not only reopen but also renew every neighborhood in the City.
Because industries such as tourism, hospitality, and restaurant services have been significantly impacted by the COVID-19 pandemic, the City is investing in helping to create jobs and support individuals gain new job training skills. The FY22 budget contains a $1 million investment for Hard Hit Industries Job Training, which will assist individuals in developing new skills to become more competitive candidates for job opportunities.
With opportunities for young people, immigrants, and people of color, the tourism industry together is one of Boston’s largest employers, and its recovery is crucial to addressing disparities in the labor force. Built on Mayor Janey’s commitment to put equity at the center of the City's recovery from COVID-19, the “All Inclusive Boston” campaign highlights Boston's diverse tourism assets across all neighborhoods. In FY22, the City is investing $1 million in hospitality and local tourism support which will help reintroduce Boston to both locals and visitors as a multicultural, diverse destination.