SAN JOSE, Calif.--(BUSINESS WIRE)--San Jose Water (“SJW” or “the Company”), a wholly-owned subsidiary of SJW Group (NYSE: SJW), announced today that it has filed its 2021 Supplier Diversity report with the California Public Utilities Commission (CPUC).
In 2021, SJW achieved $40.5M of diverse spend (33.8% of total spend), a 41% increase in diverse dollars spent, when compared to 2020. For the second year in a row, SJW met all three diversity spend sub-goals for minority (15%), women (5%) and disabled-veterans (1.5%):
- Minority-owned Business Enterprise (MBE) spend was $29.8M, representing 24.9% of 2021 addressable spend;
- Women-owned Business Enterprise (WBE) spend was $6.0M, representing 5% of 2021 addressable spend; and,
- Disabled Veteran-Owned Business Enterprise (DVBE) spend was $4.7M, representing 3.9% of 2021 addressable spend.
The total number of diverse suppliers within the SJW supply chain increased by 13%. The number of diverse suppliers doing business directly with SJW increased by 24%.
“San Jose Water’s success in this area reflects our unwavering commitment to the communities we serve,” stated Andy Gere, San Jose Water President and COO. “I am proud of the progress SJW continues to make in diversifying our supply chain. This effort enables us to be more competitive and enhances the economic vitality of the areas where we live, work and serve.”
About San Jose Water
Founded in 1866, San Jose Water is an investor owned public utility, and is one of the largest and most technically sophisticated urban water systems in the United States. The company serves over one million people in the greater San Jose metropolitan area. San Jose Water is owned by SJW Group, a publicly traded company listed on the New York Stock Exchange under the symbol SJW. SJW Group also owns: Connecticut Water Company in Connecticut; Maine Water Company in Maine; and SJWTX, Inc. (dba Canyon Lake Water Service Company) in Texas. To learn more about San Jose Water, visit: sjwater.com.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Some of these forward-looking statements can be identified by the use of forward-looking words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” “projects,” “strategy,” or “anticipates,” or the negative of those words or other comparable terminology.
These forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions including, but not limited to, the following factors: (1) the effect of water, utility, environmental and other governmental policies and regulations, including actions concerning rates, authorized return on equity, authorized capital structures, capital expenditures and other decisions; (2) changes in demand for water and other services; (3) the impact of the Coronavirus ("COVID-19") pandemic on our business operation and financial results; (4) unanticipated weather conditions and changes in seasonality; (5) climate change and the effects thereof; (6) unexpected costs, charges or expenses; (7) our ability to successfully evaluate investments in new business and growth initiatives; (8) the risk of work stoppages, strikes and other labor-related actions; (9) catastrophic events such as fires, earthquakes, explosions, floods, ice storms, tornadoes, hurricanes, terrorist acts, physical attacks, cyber-attacks, or other similar occurrences; (10) changes in general economic, political, business and financial market conditions; (11) the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, changes in interest rates, compliance with regulatory requirements, compliance with the terms and conditions of our outstanding indebtedness, and general stock and debt market conditions; and (12) legislative and general market and economic developments.
In addition, actual results are subject to other risks and uncertainties that relate more broadly to our overall business, including those more fully described in SJW Group’s filings with the SEC, including the most recent reports on Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements are not guarantees of performance, and speak only as of the date made, and we undertake no obligation to update or revise any forward-looking statements except as required by law.