Illinois American Water Invests Over $101 Million With Diverse Suppliers in 2023

Rhea-AI Summary

Illinois American Water has announced a significant milestone, investing over $101 million in 2023 with minority, women, and veteran-owned suppliers. This spending represents more than 33% of the company's total procurement, surpassing their 30% target. The company’s annual report, submitted to the Illinois Commerce Commission, also notes an 8.4% increase in spending with Illinois-based diverse businesses, now at 69.6% of total procurement.

President Rebecca Losli emphasizes that these efforts mark the sixth consecutive year of growth in their supplier diversity initiative. Program Director Jennifer Morrison highlights the ongoing expansion of diversity efforts throughout Illinois. The company aims to further enhance these partnerships to support investment projects, infrastructure upgrades, and operational needs.

Positive

• Illinois American Water invested $101 million in diverse suppliers in 2023.
• 33% of the total procurement spend was directed towards minority, women, and veteran-owned businesses.
• The company surpassed its 30% diversity spending target.
• There was an 8.4% increase in spending with Illinois-based diverse businesses.
• 69.6% of the company's procurement expenditures are with diverse businesses.
• This marks the sixth consecutive year of growth in the company’s supplier diversity initiative.

Negative

• The press release does not mention any significant revenue or profit growth for Illinois American Water.
• No specific financial metrics or performance indicators related to overall company growth were provided.

BELLEVILLE, Ill.--(BUSINESS WIRE)-- Illinois American Water achieved $101 million in spending across minority, women, and veteran supply partners, more than 33% of the company’s total procurement spend in 2023, as detailed in the company’s annual report to the Illinois Commerce Commission, which regulates the state’s public utilities.

"Our 2023 results mark the sixth year of increased growth of our supplier diversity initiative, exceeding our 30% target,” said Rebecca Losli, President of Illinois American Water. “Strengthening partnerships with new and existing suppliers is a critical goal that is further enhanced through our participation with the Illinois Utility Business Diversity Council. We look forward to growing our relationships with existing partners and adding new suppliers to benefit our company, customers, and communities.”

Illinois American Water’s annual report also showcases an 8.4% increase in total spend with Illinois-based diverse businesses, reaching 69.6% of the company’s procurement expenditures.

Jennifer Morrison, Program Director of Supplier Diversity for Illinois American Water, said, "Our company’s efforts on diversity continue to grow and expand across Illinois. We know the importance of having diverse individuals on our team and that extends to our external business partners.”

American Water, Illinois American Water’s parent company, highlights diversity and inclusion efforts across the enterprise on its website.

Illinois American Water plans to continue growing its list of diverse partners which will accelerate the ability to invest and maintain many investment projects, infrastructure upgrades and operational needs. To learn more about doing business with Illinois American Water visit the company’s Suppliers and Vendors webpage.

About American Water

American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people with regulated operations in 14 states and on 18 military installations. American Water’s 6,500 talented professionals leverage their significant expertise and the company’s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.

For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.

About Illinois American Water

Illinois American Water, a subsidiary of American Water, is the largest regulated water utility in the state, providing high-quality and reliable water and wastewater services to approximately 1.4 million people. American Water also operates a quality control and research laboratory in Belleville.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240522454270/en/

Media

Anna Kubas

Senior Manager, External Communications

Anna.Kubas@amwater.com

Source: Illinois American Water

FAQ

How much did Illinois American Water invest in diverse suppliers in 2023?

Illinois American Water invested over $101 million in minority, women, and veteran-owned suppliers in 2023.

What percentage of Illinois American Water's total procurement spend was with diverse suppliers in 2023?

In 2023, over 33% of Illinois American Water's total procurement spend was with diverse suppliers.

Did Illinois American Water meet its supplier diversity target in 2023?

Yes, Illinois American Water exceeded its 30% diversity spending target in 2023.

What increase did Illinois American Water report in spending with Illinois-based diverse businesses?

Illinois American Water reported an 8.4% increase in spending with Illinois-based diverse businesses.

What proportion of Illinois American Water's procurement expenditures are with diverse businesses?

69.6% of Illinois American Water's procurement expenditures are with diverse businesses.