Executive Speeches

Remarks of Eugene W. Zeltmann, president & chief executive officer of the New York Power Authority, at the Power Authority Purchasing Exchange for Minority- and Women-Owned Businesses, White Plains, New York.

June 12, 2003

It’s great to be here for what’s become an important tradition at the Power Authority.

This is the 13th year that we’ve joined the National Minority Business Council in playing host to this purchasing exchange in the downstate area.  Most of the exchanges, in fact, have been right here in our White Plains building.

I want to again thank the Council and its president—John Robinson.  John’s a tremendous source of support and inspiration for us at NYPA in our ongoing effort to broaden and strengthen our Supplier Diversity Program.

These annual exchanges are, of course, a key part of that program.  They’ve been so successful that last year—for the first time—we had an upstate version, in Utica.  The response was terrific and we’re hoping to do it again this fall.

You know, in the earlier days of the exchanges down here, we referred to them as “fairs.”  Maybe someone thought that word was too frivolous.  But it wasn’t really that wide of the mark.

Back in the Middle Ages, fairs were also annual events—a chance to make business contacts, to close deals and to renew longstanding friendships.  Now we call it networking.  But it serves the same purpose.

Our purchasing exchanges are designed to introduce businesses and government agencies to the wealth of talent and entrepreneurial skill present at minority- and women-owned firms.

Today we have representatives from more than 200 of these firms on hand.  I know that the prospective customers who are here will find that they’re a dynamic bunch of people who can offer a wide range of high-quality products and services at competitive prices.

Meanwhile, those of you from the minority and women-owned companies should not only meet the corporate representatives, but—just as important—should network among yourselves.  We’ve found this can lead to still more opportunities.

At the Power Authority, I’ve learned that supplier diversity is not only good for the minority and women business community—it’s also good business.  We now operate in an electric power industry that’s highly competitive.  And to serve our customers well, we need the best suppliers this world has to offer.  That means doing all that we possibly can to include minority- and women-owned businesses.

Since we began our Supplier Diversity Program in the 1980s, we’ve done a total of about $355 million worth of business with minority- and women-owned firms.  It was close to $13 million last year alone.

And to make sure we stay on track—as part of our official performance plan—we set goals each year for purchases from such companies.  I’m proud to say we’ve consistently met or exceeded them.

I was delighted to see an article in “The Network Journal” last month discussing how utilities in the New York area are reaching out to minority vendors.  The article included comments from the Power Authority’s own Debra White—the driving force behind our Supplier Diversity Program.  I think that many of you know Debby—and those who don’t should make sure to meet her today.

In the article, Debby noted that supplier diversity is a logical outgrowth of the Power Authority’s important role in promoting economic development in New York State.

“NYPA recognizes,” she said, “that the continuing growth and health of our economy depends, to a large extent, on the opportunity for everyone to share in the economic process.”

Sorry for stealing your words, Debby.  But I thought they were worth repeating.

Events like today’s purchasing exchange—and programs like supplier diversity—are really all about creating and expanding that opportunity you spoke about.  And—to the degree we’re able to do that—not only our economy, but our entire society will benefit.