Paterson Holds Ceremonial Bill Signing

Governor David A. Paterson was today joined by Assemblywoman Crystal Peoples-Stokes and local stakeholders for a ceremonial bill signing of the Minority and Women-owned Business Enterprises (MWBE) "Emerging Managers" bill (A.9976-C / S.6888-C).

"I am pleased to sign this bill into law, as part of my Administration's ongoing efforts to ensure our State corrects the long-standing disparities in government contracting and procurement," Governor Paterson said. "This legislation is another step we as a State have taken to improve equity in the procurement process and facilitate greater access for Minority and Women-Owned Business Enterprises. Through such actions and initiatives we not only help businesses thrive, we will help our State back on the path of economic recovery and prosperity."

The new law will create an Emerging Manager and MWBE financial services strategy to allow greater diversification and expansion of MWBE contracting goals with the State. This legislation will help ensure that emerging investment managers, under the oversight of the State Comptroller, have the ability to invest with MWBE financial institutions and to adopt a strategy that motivates investments in underserved areas of the State.

Pictured, Governor David A. Paterson was today joined by Assemblywoman Crystal Peoples-Stokes and local stakeholders for a ceremonial bill signing of the Minority and Women-owned Business Enterprises (MWBE) "Emerging Managers" bill (A.9976-C / S.6888-C).

http://www.state.ny.us/governor/press/11232010-CeremonialBillSigning-MWBELegislation.html