SCE’s Spending With Diverse Suppliers Creates More Than 19,000 Jobs
01 October 2020 - 8:27AM
Business Wire
The company’s $2.2 billion in such spending
last year contributed more than $3.3 billion to the economy
Last year, Southern California Edison recorded 40.1% of its
corporate purchases, or $2.2 billion in spending, with more than
650 diverse businesses. The company’s contracting with these
companies had an economic impact of more than $3.3 billion and
sustained more than 19,000 jobs. This is according to SCE’s 2019
Supplier Diversity Economic Impact Report, prepared by data
consultancy supplier.io, which helps companies evaluate the
real-world effects of their spending in their communities and
beyond.
“Through our four decades of partnering with diverse firms, we
know our supplier diversity and inclusion activities have a
profound impact beyond our operations,” said Kevin Payne, SCE
president and CEO. “Diverse perspectives make businesses, including
ours, more competitive and sustainable, leading to more jobs and a
boost to local communities. Further, many of these businesses ‘pay
it forward’ by hiring and mentoring other diverse firms or
providing support to organizations and communities.”
Importantly, SCE provides technical assistance and guidance that
help minority-, women-, disabled veteran- and LGBT-owned businesses
develop capabilities that will let them meet the company’s specific
demands.
“We are confident this work, aimed to improve the ability of
diverse suppliers to meet our needs, is an investment that will
yield positive results for the businesses and improve our overall
Greenlining scores in the future,” Payne said.
The report states that SCE’s $3.3 billion economic impact —
pertaining only to its spending with diverse suppliers — is the sum
of three effects: direct purchases by SCE from its small, minority,
women, disabled veteran and LGBT suppliers; indirect activities
within these companies’ supply chains; and the induced effects that
result as employees of these companies, and those of companies
within their supply chains, spend their wages in the wider consumer
economy.
“SCE makes an outsized economic impact in the Western U.S.
through its purchases,” said Ashlee Nelson, a vice president at
supplier.io. “SCE's purchases of leading-edge equipment from
manufacturing firms bolsters the California economy through jobs
for California's highly skilled workforce.”
For more information, including details of the report’s
methodology, see the Supplier Diversity Economic Impact Report.
About Southern California Edison
An Edison International (NYSE: EIX) company, Southern California
Edison is one of the nation’s largest electric utilities, serving a
population of approximately 15 million via 5 million customer
accounts in a 50,000-square-mile service area within Central,
Coastal and Southern California.
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Jeff Monford, (626) 476-8120
Southern California Edison Co. (NYSE:SCE.PRFCL)
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