Affordable
Supplier Diversity
We are dedicated to building a more diverse supplier base reflective of the variety of diverse communities we serve.
When we hire diverse businesses, we contribute to the vibrancy and success of these communities, while ensuring a broad and competitive pool of potential suppliers.
Encouraging diverse suppliers to bid for our business also benefits our company in numerous ways. It shows our customers and communities that we are committed to their well-being, which in turn strengthens recruiting, leading to a broader applicant cohort. Moreover, a wider pool of suppliers makes the bidding process more competitive: New bidders often bring greater innovation and ingenuity to the table than entrenched incumbents. Evidence validates that hypothesis: Research shows that companies with a strong commitment to supplier diversity earn higher returns on procurement investment.
In addition, doing business with local suppliers strengthens local economies. The ripple effects can include more jobs, more infrastructure investment, more resources for basic services, and more investment in education and worker training — all of which benefit Dominion Energy as well.
In 2023, we continued to increase procurement with diverse suppliers, spending $1.43 billion — or 16.9% of all procurement spending. To optimize engagement with diverse suppliers, we host our annual supplier diversity event, Convergence. In 2023, the event brought together more than 350 attendees representing 215 diverse businesses and industry stakeholders.
$1.43B
Spent with diverse suppliers in 2023
215
Diverse businesses and industry stakeholders represented at our supplier diversity event in 2023
Supplier Spotlight
Devon Henry
Partnership with Dominion Energy has helped Devon Henry take his company from small projects to national acclaim.
When Devon Henry started a sustainability-focused infrastructure company in 2006, he probably had no idea where it would take him: first to success, and then to national acclaim.
In the early years, Team Henry concentrated on federal and state infrastructure projects, from site development and stormwater management to roads and bridges. Later, the company expanded its line of work to include renovations, the adaptive reuse of historic structures, and ground-up building construction.
Persistence paid off. In 2014, Team Henry Enterprises of Richmond, Virginia, was recognized opens in a new window as one of the fastest-growing urban businesses in America. Five years later, the U.S. Small Business Administration’s Richmond District named opens in a new window Henry the Small Business Person of the Year.
It wasn’t easy: During the Great Recession, Henry had to take drastic steps, including taking out a home-equity loan and drawing on his 401(k). But Henry soldiered on, and the business grew.
Along the way, Team Henry developed a partnership with Dominion Energy. It started with small projects, such as a 900-square-foot gas bottle storage building. Today, Team Henry has the contract to build the new crew quarters at the Possum Point Power Station in Prince William County, Virginia, which will encompass more than 20,000 square feet.
The partnership, Henry says, is built on “trust, collaboration, and shared values…. As members of the diverse supplier community, we understand the importance of opportunity. We are grateful for the vote of confidence and level of collaboration provided by Dominion Energy.”