DTE Energy approaching $1 billion in incremental spend with Michigan businesses and receiving multiple honors for supplier diversity
DETROIT, Nov. 18, 2014 /PRNewswire/ -- DTE Energy is approaching $1 billion in incremental spend with Michigan businesses, one year earlier than its original commitment, as part of the Pure Michigan Business Connect Initiative started in 2011. In 2014 alone, DTE has already spent more than $630 million with Michigan-based suppliers. As part of that investment, the company has also exceeded $110 million with Detroit-based suppliers.
DTE's ongoing procurement with Michigan companies creates and supports more than 5,000 jobs.
"We continue to exceed our annual targets because we take our commitment to Michigan businesses seriously," said Dave Meador, vice chairman and chief administrative officer, DTE Energy. "We know our state's success is dependent upon a strong economy. DTE is proud to be a job creator and a reliable corporate citizen. This commitment is one we will sustain and continue to grow for the foreseeable future."
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 the end of 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. The company's efforts are being recognized.
During the third quarter, DTE received several prestigious honors for its supplier diversity program. DTE was named Corporation of the Year – Consumer Products for the sixth time by the Michigan Minority Supplier Development Council for creating opportunities for minority-owned businesses. DTE is now one of only two companies in MMSDC history to earn the award five consecutive times.
The Women's Business Enterprise Council – Great Lakes honored DTE with a "Best in Class" Excellence in Supplier Diversity Award and the Significant Contributor Award. This is only the second time the WBEC has presented the Significant Contributor Award.
Hispanic Network Magazine, Professional Woman's Magazine and MBN USA also recognized DTE for its commitment to developing women- and minority-owned businesses.
Last year, DTE spent more than $300 million with certified diversity suppliers.
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, natural gas pipelines, gathering and storage, and energy marketing and trading. Information about DTE Energy is available at dteenergy.com, twitter.com/dte_energy and facebook.com/dteenergy.
SOURCE DTE Energy