EDGE PILOT Recipients Outperform Minority Spending Requirements
EDGE/IDB PILOT recipients spent $240 million with minority/women/small local firms from 2012-2016, exceeding their commitments by more than $10 million.
A new report covers the activity of 62 firms with active PILOTs approved by either the Industrial Development Board (IDB), now part of EDGE or, since 2011, EDGE itself. Those 62 PILOT recipients contracted with 355 Minority/Women Business Enterprises (MWBE) and Locally-Owned Small Businesses (LOSB). MWBEs received 81 percent of the contracts by value, while LOSBs accounted for 19 percent.
Efforts to assist MWBEs and LOSBs through the PILOT program date back to 2001, when the IDB launched its Jobs Plus Optional Program. When that voluntary effort proved unsuccessful, the IDB created a mandatory Diversity Programin 2008. EDGE continued the Diversity Programand subsequently updated it with the Local Business Participation (LBP) Program which, since 2017, focuses exclusively on growing City and County-certified MWBEs.
The EDGE PILOT Recipient Spending Report 2012-2016 is available for download, here.