DTE Energy continues to surpass goals for spending with Michigan businesses
DETROIT, May 28, 2013 /PRNewswire/ -- DTE Energy spent $231 million with Michigan-based suppliers through April, compared to its $191 million target, as part of its commitment to the Pure Michigan Business Connect Initiative that began two years ago. This is 20% higher than DTE's 2013 year-to-date target.
This news follows DTE Energy's 2012 year end announcement that it spent more than $820 million with Michigan companies, exceeding the pledged target by nearly 45%.
"DTE has an unwavering commitment to help improve Michigan's economy," said Gerry Anderson, DTE Energy chairman, president and CEO. "Our efforts with suppliers help increase opportunity for entrepreneurship, promote Michigan as a destination for new graduates entering the job market and improve employment conditions around the state."
In the summer of 2011, Gov. Rick Snyder announced the Pure Michigan Business Connect Initiative during the Detroit Regional Chamber's Mackinac Policy Conference. In response, DTE Energy pledged to shift an incremental $750 million over five years to do business with Michigan-based suppliers.
The Pure Michigan Business Connect Initiative, an $8 billion dollar public-private program, is designed to prepare and develop Michigan suppliers to provide services to companies across the state. The initiative, which is administered through an alliance with the Michigan Economic Development Corporation, also helps suppliers find new ways to raise capital, get access to a variety of business services and provides business-to-business procurement opportunities.
"Our work with Michigan suppliers proves that companies in this state can compete with anyone in the world," said Dave Meador, DTE Energy chief financial officer. "We are able to accomplish our goal of supporting Michigan businesses without compromising on cost or quality."
About DTE Energy
DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric utility serving 2.1 million customers in Southeastern Michigan and a natural gas utility serving 1.2 million customers in Michigan. The DTE Energy portfolio also includes non-utility energy businesses focused on power and industrial projects, unconventional gas production and energy trading. Information about DTE Energy is available at dteenergy.com, twitter.com/dte_energy and facebook.com/dteenergy.
SOURCE DTE Energy