Business report

SEPTA signs pledge for equity in infrastructure project

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Leslie Richards, Managing Director and CEO of the Southeastern Pennsylvania Transportation Authority (SEPTA), and Philadelphia Mayor Jim Kenney recently signed the equity pledge in the infrastructure project.

The project aims to improve public procurement practices by providing more opportunities to historically underutilized businesses (HUBs) by creating more joint venture opportunities and participation contracts for these businesses. The program aims to create generational wealth and close the racial wealth gap.

Pledge signatories commit to working to increase the amount and type of funding available to HUBs; increasing the number, size and proportion of contract opportunities going to HUBs; increasing the number, size and proportion of contract opportunities going to HUBs as prime contractors; and streamline contract administration with HUBs to centralize certification, improve payment timelines, and standardize transparent data collection.

“The people we contract with have always mattered in our efforts to advance equity. At this time, we have a unique opportunity to create generational wealth for minority and women-owned small businesses in the world. infrastructure,” said Richards. “SEPTA is not only committed, but we are also excited to make this commitment.”

SEPTA is the only agency in Pennsylvania to sign the pledge. Four other agencies in the country have signed it.