DTE Tops First Quarter Target For Michigan Business Connect

DETROIT — DTE Energy (NYSE: DTE) said Thursday it spent more than $200 million with Michigan companies during the first three months of the year, as part of its ongoing commitment to supporting in-state businesses through the Pure Michigan Business Connect Initiative.

From January to March, DTE spent $202 million with suppliers based in Michigan, surpassing its stated goal of $169 million for the quarter. As part of that supply chain investment, DTE spent $41 million with Detroit-based companies during the period.

DTE Energy chairman and CEO Gerry Anderson noted that the utility holding company estimates that its ongoing procurement with Michigan companies supports more than 5,000 jobs.

The Pure Michigan Business Connect Initiative is part of an $8 billion public-private program announced by Michigan Gov. Rick Snyder at the Detroit Regional Chamber’s Mackinac Policy Conference in 2011. Administered through an alliance with the Michigan Economic Development Corp., the program helps companies find new ways to raise capital, get access to a variety of business services and provides business-to-business procurement opportunities to help grow and create jobs.

As a leader in the initiative, DTE pledged to shift an incremental $1 billion in spending from businesses located outside of Michigan, and in some cases outside the United States, to Michigan-based suppliers by 2015. That’s up from an original target of $750 million.

DTE continues to actively seek Detroit and Michigan suppliers, including minority- and women-owned businesses, as part of the initiative. Last year, DTE spent $302 million with certified diversity suppliers.

More at www.dteenergy.com.

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