(Wall Street Journal) — A Bloomberg administration initiative intended to help minority- and women-owned companies secure more public contracts has steered little money to black-owned firms, according to city data. In the last year and a half, about three-quarters of city dollars paid to contractors participating in the program went to companies owned by either Asian Americans or white women. Businesses run by Latinos received 15% of that pool of money. The smallest share, 7%, went to black-run firms. ”It’s a shockingly paltry amount,” said city Comptroller John Liu, a first-term Democrat. The program has been a magnet for criticism since Mayor Michael Bloomberg and the City Council approved a law in 2005 that set voluntary goals for awarding a certain percentage of contracts to businesses registered as owned by minorities or women.
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