An important part of our strength PECO comes from diversity in all that we do - and our Supplier Diversity Program is a great example. PECO has developed strategic partnerships with diverse suppliers to bring a variety of products and services to our company. Our Supplier Diversity Program is designed to bring the added value of diversity to our procurement process by proactively seeking small, minority-, women- and service disabled veteran-owned enterprises.
Through our Diverse Business Empowerment Program, we are committed to the development, utilization and growth of diversity certified suppliers, including minority-owned, women-owned, veteran-owned, service disabled veteran-owned, LGBT and HUBZone located businesses. PECO's Diverse Business Empowerment Program provides purchasing opportunities for minority-owned, women-owned, veteran-owned and service disabled veteran-owned, LGBT and HUBZone businesses.
Our staff is dedicated to identifying diversity certified suppliers that offer high-quality, cost-competitive goods and services, and matching them with the needs of the company. It is PECO’s goal that minority, women-owned, service disabled veteran-owned and small business concerns shall have the maximum opportunity to participate in contract opportunities.
PECO’s Diverse Business Empowerment Program actively seeks diversity certified suppliers through trade shows and working with business and advocacy groups.
PECO is an active corporate member of several organizations that are dedicated to fostering minority business development, including the Eastern Minority Supplier Development Council (EMSDC), the Women’s Business Development Center of PA, DE and sNJ, the African American Chamber of Commerce of PA, NJ and DE, the Greater Hispanic Chamber of Commerce and the Independence Business Alliance (IBA).
The 2nd Tier spend consists of payments made from a prime supplier to a diversity certified supplier for the purchase of products or services used directly in support of a contract with PECO.
Due to the nature of the utility business, many procurement opportunities may limit participation by small businesses. PECO’s 2nd Tier Spend Program increases the opportunities available to diversity certified suppliers in our business and ensures a diversity certified supplier pool across the supply chain. We believe these efforts will stimulate the local economy by creating jobs.