In 2020, the New Jersey CEO Council, an informal coalition of CEOs from some of the state’s largest companies, pledged to hire or train more than 30,000 residents by 2030 and spend an additional $250 million on procurement with state-based, diverse companies by 2025, with a focus on underrepresented communities of color and other underserved communities.

To spend $250 million on contracts by 2025 on procurement with state-based diverse companies. This is achieved by:

• Working with advocates of diverse business owners to vet and increase the number of minority suppliers and businesses being considered by the companies.

• Maintain lists of diverse suppliers, enhance the ability of companies to choose vetted diverse suppliers and serve as a portal to match suppliers with opportunities available at the eight companies.

• Provide a platform to track each company’s diverse procurement spending and monitor their progress in increasing business with diverse suppliers and businesses.

• Share best practices, including ideas from academia, among the companies.

• Enhance the potential of diverse suppliers to acquire new business with the companies by raising awareness of the state’s diverse business registration process and by providing training in business building and procurement bidding skills.

Becton, Dickinson & Company

Campbell's Soup Company

Johnson & Johnson

Merck & Company

Prudential Financial

PSEG

RWJBarnabas Health

Verizon