This past July 26th, CNBC published an article that described how Los Angeles, California, will become the largest municipality in the United States to formally include LGBTQ-owned businesses in the city’s multibillion-dollar contract procurement.
This represents a big step for the LGBT business community as cities are discovering the effects of allowing diverse business owners to come in and be part of their communities. According to the National LGBT Chamber of Commerce, certified LGBT businesses contribute $1.7 trillion to the U.S. economy and create more than 33,000 jobs.
“We could hope that not only L.A. but all the major cities will adopt these programs and make it their own, because we need a lot more help,” said Joe Maak, founder and CEO of Pride Resource Partners, during an interview for this article.
“It’s kind of like the forefront of a new era,” Maak said. “Previously, LGBT companies weren’t seen as DBE companies. … And now people are realizing there is a large pool of very talented people out there who have not had the same opportunities as others. And clearly, LGBT companies and any other DBE companies have been really high performers. … These companies actually are delivering on their promise.”