Turner Awards Its Largest Number of Contracts Ever to M/WBEs
Turner Construction Company, the nation's leading general builder, announced that it has awarded 2,850 contracts totaling $1.4 billion to minority- and women-owned business enterprises (M/WBEs) during 2008. This represents the largest amount of contracts Turner has awarded to M/WBE firms in company history and the fourth year in a row that the company has surpassed the milestone of awarding in excess of $1 billion of contracts to M/WBE firms.
Since 1979, Turner's total number of contracts with M/WBEs has surpassed 48,000 at a value exceeding $17.6 billion. While building some of the most significant projects in the nation, Turner remains committed to the communities in which it builds.
In New York City, Turner managed the construction of the new 1.3 million sq. ft., 52,325-capacity Yankee Stadium project in the Bronx, N.Y., that was turned over to the New York Yankees as substantially complete in February. Bronx Community Board #4, where Yankee Stadium is located, holds the highest unemployment rate and one of the lowest high school graduation rates in New York City. The Yankee Stadium project had a site-specific Community Benefits Agreement, in which Turner ensured that 25% percent of the workforce on the stadium would be from the Bronx.
Turner also ensured that 25% of the contracts on the stadium project would be awarded to Bronx-based businesses. The New York Yankees, along with Turner, worked diligently with the Bronx Overall Economic Development Corporation and the Bronx Chamber of Commerce to identify potential sub-contractors and vendors that could participate in the construction of the stadium.
Also in New York City during 2008, Turner managed the construction of the 26-gate, 640,000 sq.ft. Terminal 5 for JetBlue Airways. In a clear demonstration of a shared commitment to include the M/WBE community on the project, Turner and JetBlue awarded 28.1% of contracts in work volume totaling $116,994,775 to date on the project to minority - and women-owned business enterprises.
"We are very proud to have achieved this milestone for the fourth consecutive year. Our longstanding record of achievement in expanding economic opportunities for minority - and women-owned contractors across the country is critical to the success of Turner and of our industry," says Hilton Smith, Turner senior vice president, community affairs.
Turner is the leading general builder in the U.S., ranking first or second in the major segments of the building construction field. During 2007, Turner completed $9.6 billion of construction projects, and it is the only builder offering clients a nationwide network of offices across the U.S.