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Being a good partner with our communities also means spending dollars to support the local economy and businesses. As we strive to be more inclusive, we seek out competitive and qualified small, local and diverse businesses to participate in the supply of materials, equipment and services we need to operate. We work with advocacy groups to identify and encourage small, local and diverse businesses to participate in our procurement processes.
The Dominion Energy Supplier Diversity Program uses the following six diversity classifications:
- Minority-owned businesses
- Woman-owned businesses
- Veteran-owned businesses
- Service-disabled-veteran-owned businesses
- HUBZone businesses (those located in Historically Underutilized Business Zones, which are designated by the U.S. Small Business Administration)
- Small Disadvantaged businesses
In 2018, we began the process of adding two more diversity classifications — one for disabled suppliers and another for LGBTQ suppliers.
We hold matchmaking events that pair local businesses with our own employees to discuss supplier capabilities and upcoming opportunities. In 2018, we attended 36 diversity events across our service territory, and held two diverse-supplier matchmaking events and two luncheons to develop new partnerships and strengthen existing ones. As a result, we expanded our partnerships to include 15 new advocacy organizations.
In 2018, we hosted a gas infrastructure matchmaking event in Bridgeport, West Virginia. Diverse suppliers met with our employees to pitch their services and learn about potential opportunities. We conducted another gas infrastructure diversity fair event in Salt Lake City, Utah, where diverse suppliers networked and learned about doing business with the company. While in Utah, we also hosted a lunch with numerous advocacy organizations, including several chambers of commerce, to foster ongoing relationships. For all of our events, we used our advocacy group relationships to help identify small, local and diverse attendees.
We continue to partner with government agencies, minority business groups and advocacy organizations across our service territory to develop supplier sourcing opportunities that will make our supply chain even more diverse and inclusive.
Supply Chain Diversity
Our spending with diverse suppliers grew 7.4 percent in 2018 to $629 million — a new company record. Spending with diverse suppliers accounted for approximately 11.8 percent of total procurement spending. Since 2013, our diverse spending has grown nearly 60 percent and exceeded $3 billion.