Port of Long Beach Spends More Than $55MM on Small Businesses

Port CEO Mario Cordero

Courtesy of POLB

LONG BEACH, Calif. – The Port of Long Beach gives an update on its small business spending.

According to the Port of Long Beach (POLB), in the previous fiscal year, 41.8% of Port funding through the Port’s Small Business Enterprise Program went to purchases from “’small business enterprises’ and ‘very small business enterprises’.”

Since the program’s beginning in 2004, POLB’s FY23 participation is the second-highest. The highest is still FY22 with 48.9% in small-business spending. However, the number of applicable spending on construction projects has risen from $54.2 million to $55.7 million. The Port’s small business participation goal is 27%.  

Port of Long Beach CEO Mario Cordero said, “The SBE program provides opportunities to a wider, more diverse range of local contractors, suppliers, and other businesses, which strengthens the local economy. . . As an additional benefit, we believe this practice also increases competition for tens of millions of dollars in public contracts each year, resulting in better outcomes and even more value.”

Long Beach Harbor Commission President Bonnie Lowenthal said, “The Port of Long Beach is a job creator for our community and beyond, but we recognize it’s not enough to merely serve as an economic engine. . . This program was created to ensure there’s a place for smaller companies to benefit from the economic opportunities.”