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March 29, 2018

PSEG Sets New Record for Spending with Diverse Suppliers
in 2017

Annual Diversity Fair brings together hundreds of minority-, women- and veteran-owned businesses with large New Jersey-based companies

(March 29, 2018 – Newark, N.J.) -- Public Service Enterprise Group (PSEG) today hosted its 12th annual Supplier Diversity Procurement Fair, bringing together representatives of New Jersey's diverse business community and the state's largest utilities. The event offers small, diverse businesses an opportunity to meet with prospective buyers and discuss their products and services.

During 2017, PSEG set a new company record by buying $532 million worth of goods and services from minority-, women- and veteran-owned businesses, nearly a 13 percent increase from 2016. Almost 19 percent of the company’s purchases were with diverse vendors. In total, PSEG did $2.1 billion worth of business with New Jersey-based companies in 2017, helping to drive the state’s economy.

“We’ve increased our total diverse-supplier expenditures by more than 300 percent over the past decade,” PSE&G President and Chief Operating Officer David Daly said. “Supplier diversity is one of PSEG’s most important programs, and is  closely aligned with our commitments to our customers, the communities we serve and the entire state of New Jersey.”

More than 55 organizations took part in the event, including a number of business resource groups – the New Jersey Business & Industry Association, the New Jersey Association of Women Business Owners, the New Jersey African American Chamber of Commerce and the Statewide Hispanic Chamber of Commerce. A number of large purchasers took part, as well, including the Port Authority of NY & NJ, New Jersey Natural Resources, Consolidated Edison and NJ Transit.

“Hosting the annual Supplier Diversity Procurement Fair is one way we can create new relationships with diverse vendors and strengthen existing ones,” said Brian Clark, PSEG’s vice president-procurement. “Partnering with diverse suppliers isn’t about political correctness, it’s smart business. We have a diverse customer base, and with that comes an obligation to provide those communities with access to business opportunities. Through those relationships, we gain a deeper understanding of those communities and, in turn, better serve our customers.”

Mary Kiely, CEO of Traffic Plan, a nationally certified Women’s Business Enterprise that offers traffic control services throughout the Northeast, shared her company’s experience participating in the Newark 2020 program. The program is a collaboration between Newark-based employers, including PSEG and its contractors, the Newark mayor’s office, and the Newark Works Program to gainfully employ 2,020 city residents by 2020. 

“Many of the unemployed Newark residents we interview for jobs have challenging pasts that likely would disqualify them from working for many companies,” Kiely said. “However, with the support of both Newark Works and PSEG, Traffic Plan was able to overcome these barriers and hire 19 city residents this past year - giving them a true second chance at being a productive, employed member of the Newark community.”

“It’s been a win for them and for us.”

Joseph R. Jingoli Jr., CEO of Joseph Jingoli & Sons, spoke about his company’s commitment to hiring a diverse workforce as part of the Newark 2020 program.

“We put a priority on supporting the economic stability of the communities in which we work, and that involves giving residents of those communities opportunities,” Jingoli said. “In connection with PSE&G’s Fairmount Heights Switching Station project, we partnered with local community organizations and elected officials to identify potential employees. That led to us hire eight West Ward residents, who have gained certifications and have been part of the Jingoli organization for nearly four years.”

The event was co-sponsored by PSEG's partners, the New York & New Jersey Minority Supplier Development Council and the New Jersey BPU Supplier Diversity Development Council. These advocacy organizations are committed to assisting small minority-, women- and veteran-owned businesses develop relationships with companies throughout the region.

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Public Service Enterprise Group (NYSE: PEG) is a publicly traded diversified energy company with annual revenues of $9.1 billion and approximately 13,000 employees. Headquartered in Newark, N.J., PSEG's principal operating subsidiaries are: Public Service Electric and Gas Company (PSE&G), PSEG Power and PSEG Long Island. PSEG is a Fortune 500 company included in the S&P 500 Index and has been named to the Dow Jones Sustainability Index for North America for 10 consecutive years. (www.pseg.com).

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