New York City considers bill to increase public contracts going to LGBT+ owned businesses

New York City Councilman Ritchie Torres has introduced a bill to certify LGBT+ owned businesses and give them access to programs helping underserved groups compete for government contracts. The bill is similar to those passed in Baltimore, Nashville, Massachusetts and California, and would establish a certification process similar to those for women and minority-owned businesses.

The National LGBT Chamber of Commerce estimated that LGBT+ owned businesses across the country had an economic impact of over $1.7 trillion in 2016.

“There are corporations looking for greater LGBT diversity in their contracting, and there are LGBT businesses looking for more opportunities,” Torres said. “A certification would be a way to bridge the gap.”

Read more at the Wall Street Journal.