Stevens Institute of Technology
OP-15: Inclusive and Local Purchasing

Inclusive and Local Purchasing Stevens, as an institution, will demonstrate a purchasing preference from businesses deemed as disadvantaged*/social enterprises, or community-based** in order to benefit the local economy and contribute to the inclusive nature of purchasing power. Support for these businesses can take the form of preference during the Request for Proposal (RFP) process, targeted outreach to these businesses about opportunities for work within the institution, and increased purchased from said businesses. Stevens is already committed to local purchasing in the Hudson County area including Hoboken. University spending directly and indirectly accounted for an output of $107.4 million in Hoboken. Students of Stevens directly and indirectly spent an output of $8.4 million, while visitors of Stevens spent an output of $1.3 million. Giving a total economic impact of $117.2 million to Hoboken alone. As for the impact in Hudson County, Stevens spent $165.1 million in 2014. This policy will show the Stevens commitment to local purchasing in the region. Including values of committed local purchasing and the percentage of total purchasing will set a benchmark for future in-area procurement. The first part of this policy states the institution-wide intent to support disadvantaged businesses, social enterprises, and/or local community based businesses. Following this intent, Stevens will continue to support the local economy through purchasing of goods and services from either social enterprises, disadvantaged businesses, or community based local businesses.