PECO, an Exelon company recently announced that it spent $177 million with certified diverse suppliers in 2017. This represented 22% of the company’s total purchases and is a $31 million or 21% spend increase from the previous year.
It has been mentioned previously that PECO’s parent company Exelon spent over $2 billion with diverse suppliers in 2017 with many of its subsidiaries adding large amounts to the goal. “Exelon has increased spending with women and minority-owned businesses by more than 200 percent since 2011, reaching $2 billion in 2017.”
The large purchasing total for PECO was made possible through the establishment of the Power 25 program, aimed at expanding procurement efforts to include a wider array of under-represented companies. Power 25 provides diversity-certified vendors an opportunity to learn more about PECO’s, as well as its parent company, Exelon’s, processes to aid in advancing their growth and development with the utility and other corporations.”