MassHousing has recognized the efforts of WinnCompanies and NEI General Contracting for their utilization of Minority and Women-Owned Business Enterprises (M/WBEs) in fiscal year 2018, which created economic opportunities for hundreds of working families across Massachusetts.
Boston-based WinnCompanies received the Property Management Award of Excellence for the highest contract award achievement with both minority and women-owned businesses.
WinnCompanies overall expenditure was approximately $38.1 million at 43 MassHousing-financed housing communities in FY18. From the total, $7.7 million went to minority-owned businesses and $6.1 million went to women-owned businesses.
The MassHousing Minority and Women-Owned Business Enterprises Vendor Program helps Minority and Women-Owned Businesses benefit from the economic opportunities created by MassHousing-financed rental housing. In FY2018, which ended June 30, the 409 rental housing developments financed by MassHousing generated approximately $221 million in contracts for goods, services and supplies. Of this amount, $38 million (17 percent) went to minority-owned businesses and $26 million (12 percent) went to women-owned businesses.
In addition, MassHousing construction loans resulted in $332 million in construction activity in FY18. Of this amount, $102 million (31 percent) went to MBE subcontractors and $52 million (17 percent) went to WBE subcontractors.
As part of its effort to encourage equal opportunities for M/WBEs, MassHousing tracks the expenditures of property management companies and general contractors that manage or work on MassHousing-financed housing communities.