DTE Energy exceeds first quarter target for spending with Michigan businesses
DETROIT, May 8, 2014 /PRNewswire/ -- DTE Energy (NYSE: DTE) spent more than $200 million with Michigan companies during the first three months of the year, as part of its ongoing commitment to supporting in-state businesses through the Pure Michigan Business Connect Initiative.
From January to March, DTE spent $202 million with suppliers based in Michigan, surpassing its stated goal of $169 million for the quarter. As part of that supply chain investment, DTE spent $41 million with Detroit-based companies during the period.
"DTE Energy is dedicated to being a leader in the revitalization of our state and our hometown," said Gerry Anderson, chairman and CEO of DTE Energy. "DTE's ongoing procurement with Michigan companies, by our estimate, supports more than 5,000 jobs."
The Pure Michigan Business Connect Initiative is part of an $8 billion public-private program announced by Michigan Gov. Rick Snyder at the Detroit Regional Chamber's Mackinac Policy Conference in 2011. Administered through an alliance with the Michigan Economic Development Corporation, the program helps companies find new ways to raise capital, get access to a variety of business services and provides business-to-business procurement opportunities to help grow and create jobs.
As a leader in the initiative, DTE has pledged to shift an incremental $1 billion in spending from businesses located outside of Michigan, and in some cases the United States, to Michigan-based suppliers by 2015. This is significantly higher than the company's original target of $750 million. DTE is accomplishing this goal by ensuring low costs and high quality, demonstrating Michigan's overall competitiveness.
DTE continues to actively seek Detroit and Michigan suppliers, including minority- and women-owned businesses, as part of the initiative. Last year, DTE spent $302 million with certified diversity suppliers.
One of those companies is Requisite Communications, a small, Women's Business Enterprise headquartered in Clarkston, Mich. This organizational communications consulting firm has worked with DTE since 2010. Requisite Communications has written, designed, and produced DTE's popular employee wellness newsletter called "In Charge" since its inception, as well as created other employee communications materials. DTE recently awarded the firm a new three-year contract through March 2017.
"DTE is very strategic, creative and forward thinking," said Catherine A. Smith, founder of Requisite Communications. "I feel proud to be associated with the company. DTE is a standout client for me."
Requisite is a Michigan business that supports other companies in the state, including diverse suppliers. The firm uses a Women's Business Enterprise based in Suttons Bay for its graphic design work and a firm in Madison Heights for its production work.
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 and energy trading. Information about DTE Energy is available at dteenergy.com, twitter.com/dte_energy and facebook.com/dteenergy.
SOURCE DTE Energy