DTE Energy surpasses $1 billion incremental spending goal with Michigan businesses
DETROIT, Feb. 16, 2015 /PRNewswire/ -- DTE Energy has quickly exceeded $1.25 billion in cumulative spending with Michigan businesses since 2011.
As part of the Pure Michigan Business Connect initiative, DTE 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. DTE surpassed that goal in December 2014.
DTE ended 2014 above target as well, spending $922 million during the year with in-state suppliers. As part of that investment, the company spent $159 million with Detroit-based suppliers by December of last year, and more than $370 million with certified diversity suppliers.
"DTE Energy is proud to be a corporate leader in Michigan's economic progress," said Dave Meador, DTE Energy vice chairman and chief administrative officer. "Since committing to the Pure Michigan Business Connect initiative, each year we have exceeded our annual spending targets. We have been able to do this while ensuring low costs and high quality, demonstrating Michigan's overall competitiveness."
DTE Energy is one of the original seven leaders of the initiative. Administered through an alliance with the Michigan Economic Development Corporation and Business Leaders for Michigan, Pure Michigan Business Connect is a multi-billion dollar public-private initiative connecting buyers to suppliers of Michigan goods and services. Through the business-to-business network, Michigan companies are encouraged to increase their procurement within the state. DTE's ongoing investment has helped to create and support more than 5,000 Michigan jobs.
"It is impressive to see Michigan businesses starting to recover," said Ron Eagle, president of Eagle Landscaping & Supply. The Southfield-based company has provided services to DTE for 60 years. "Business owners are now able to hire more people who were out of work in recent years. That's a good sign. We're all striving to make this state a great place to live. I believe DTE has played a big part in the positive change happening in Michigan."
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.
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SOURCE DTE Energy