New Jersey’s Opportunity to Expand Support for Black-Owned Businesses Under Sherrill
After Governor Mikie Sherrill takes office, New Jersey may reform how it helps Black-owned businesses. The state is diverse and forward-thinking, but structural issues have made it challenging for minority-owned enterprises to operate there. New Jersey has 15% Black residents, yet only 1% of government contracts went to Black-owned firms from 2015 to 2020.
The disparity is notably wide in professional services and construction. Professional services contracts worth $13.7 million went to black-owned enterprises and $3.4 billion to white ones. Black-owned construction firms received $3.3 million, while white-owned enterprises received $10.8 billion. This inequity illustrates a pattern of isolation that has delayed state economic growth and hurt minority enterprises.
Gov. Sherrill has a tremendous job. New Jersey has a billion-dollar deficit with unfunded benefits. However, these issues allow us to rethink government procurement and job creation. Sherrill may learn new skills and promote economic justice by awarding more contracts to Black-owned firms.
Expanding government contracts is the correct thing to do and the best way to create jobs, improve competition, and help local economies, say experts. Fair government contracts for women- and minority-owned businesses boost the economy and create jobs.
Herrill’s thoughts may honor Dr. Martin Luther King, Jr., who believed racial equality requires economic equality. Increased government contracts for historically underserved enterprises helps achieve this goal and creates real and symbolic change. This might help New Jersey correct decades of inequality and offer all business owners an equal shot to boost the economy.
After the new governor enters office, the state will closely monitor buying laws to determine if Black-owned firms have new opportunities. Fair hiring in New Jersey may be the greatest in the nation, showing how government can promote equity and growth.
Sources:
- New Jersey State Government Procurement Reports
- Official statistics from the New Jersey Department of the Treasury
- Public statements by Governor Mikie Sherrill
