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Press Release
Media Contact: Casey Baines [email protected]
Chamber Foundation Announces Pacesetters Data & Pacesetters Awards
Pacesetters Increase MBE Spend 5.2% in Massachusetts & 9.7% Nationally
The Greater Boston Chamber of Commerce Foundation’s Pacesetters supplier diversity initiative, a collective effort to use equitable procurement to create a more inclusive regional economy, is pleased to announce that Pacesetters increased their spend with businesses of color in 2023 by 5.2% in Massachusetts and 9.7% nationally.
In 2022, Pacesetters buyers spent more than $322 million with Massachusetts MBEs and $5 billion with national MBEs. In 2023, Pacesetters buyers increased their spend with MBEs, spending more than $339 million with Massachusetts MBEs and more than $5.5 billion with MBEs nationally.
“When we founded the Pacesetters initiative in 2018, the Chamber Foundation led Greater Boston’s business community in the first large-scale activation of the buyers in supplier diversity. Every year, we see the Pacesetters buyers commit and act to advance equitable procurement practices that create more partnerships with businesses of color and greater success. As demonstrated by the strong Pacesetters data, our CEOs, procurement officers, and broader teams are leading the future of commerce that is inclusive and empowering,” said James E. Rooney, President of the Greater Boston Chamber of Commerce Foundation.
Successful supplier diversity requires commitment, action, and urgency, and we are proud of the Pacesetters business leaders and companies who are moving the needle.
The 2024 Pacesetters Awards honorees are:
2024 Pacesetters Awards
Company of the Year: RTX
Champion of the Year: David Cho, Chief Procurement Officer, University of Massachusetts
Partnership of The Year (Massachusetts): State Street & System Custom Consulting
Partnership of The Year (National): State Street & Orange Lab Media
Together, Pacesetters are leading the business community forward with best practices that elevate greater economic opportunity for all. As part of the Pacesetters initiative, the Chamber Foundation created two successful event series to advance transparency in supplier diversity: the “Doing Business” series and “Behind the Scenes of an MBE” series. The free Doing Business series features the procurement systems of a Pacesetter buyer, increasing the transparency of the how to successfully do business with a large buyer. The free Behind the Scenes series helps buyers and businesses of color see behind the scenes, spotlighting the important business journeys of MBEs. Both series are successful because of the commitment and innovation of our Pacesetters supplier diversity ecosystem.
Pacesetters
Berkshire Bank
Beth Israel Lahey Health
Blue Cross Blue Shield of Massachusetts
Boston Children’s Hospital
Boston Planning & Development Agency
Citizens
Comcast
Consigli
Dana-Farber Cancer Institute
Eastern Bank
Emerson College
Encore Boston Harbor
Federal Reserve Bank of Boston
Fidelity
Gilbane
Greylock Federal Credit Union
John Hancock
Liberty Mutual Insurance
Massachusetts Gaming Commission
Mass General Brigham
McKinsey & Company
National Grid
Nitsch Engineering
Northeastern University
Nutter
P&G Gillette
Point32 Health
RTX
Red Sox
Sanofi
State Street
Suffolk University
University of Massachusetts
Vertex
Business Association Partners
Massachusetts Business Roundtable
MassBio
Massachusetts Competitive Partnership (MACP)
NAIOP Massachusetts
The Alliance for Business Leadership
Western Mass Economic Development Council
Worcester Regional Chamber of Commerce
About the Chamber’s Pacesetters Initiative
Founded in 2018, the Pacesetters supplier diversity initiative, a cornerstone of the Chamber Foundation’s Economic Inclusion portfolio, is leading commerce forward, creating an inclusive, diverse economy that champions businesses of color. Pacesetters are large and mid-sized companies and anchor institutions that use equitable procurement practices to intentionally increase spend with businesses of color. Learn more about Pacesetters.
About the Greater Boston Chamber of Commerce Foundation
Founded in 1984, the Greater Boston Chamber of Commerce Foundation (the “Chamber Foundation”) transforms the lives of current and future residents by leveraging the Commonwealth’s untapped talent, championing small businesses, and creating tomorrow’s leaders in support of a 21st century economy. More information about the Chamber Foundation is available here.
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