Supplier Diversity

Women and minority-owned businesses are some of the fastest-growing businesses in today's economy. They often make quicker business decisions and offer faster product turnaround at more competitive prices than other vendors. In 2007, Verizon spent more than $3 billion with diverse suppliers for telecommunications products and professional services such as advertising and real estate services. As a corporation that annually spends more than a billion dollars with diverse suppliers, Verizon is a charter member of the elite Billion Dollar Roundtable.

The company encourages the growth of minority businesses in a variety of ways. Verizon forms strategic alliances with advocacy groups and chambers of commerce such as the National Minority Supplier Development Council, the United States Chamber of Commerce and the Women's Business Enterprise National Council. Verizon also encourages primary suppliers to increase the use of diverse businesses as subcontractors. Typical of the diverse businesses we work with is Hispanic-owned MBE Telecom. A Verizon supplier since 1999, MBE Telecom provides material management and planning services such as central office wire, coaxial cable, and fiber optic cable for Verizon's newest initiative - fiber to the premises (FTTP).

MBE Telecom's expertise enables them to purchase and maintain fiber optic cable for FTTP deployment. MBE Telecom has helped transform Verizon's network by bringing FTTP technology directly to homes and businesses in California, Florida and Texas.

"Verizon continues to set the standards for supplier diversity. Their commitment ensures that diverse businesses are part of the technology evolution around new initiatives like FTTP. Verizon's standards of excellence allow companies like ours to continue to grow and compete."

Bill de La Teja, president and CEO of MBE Telecom

Verizon also hires minority-owned investment firms to manage a portion its pension assets. Through the Verizon Diversity Managers program, approximately 20 minority and women-owned investment firms now manage about $1.3 billion in assets, including $340 million on behalf of the Verizon Foundation.

Diverse vendors interested in becoming Verizon suppliers must be certified by one of the following organizations: the National Minority Supplier Development Council, the United States Hispanic Chamber of Commerce, the Association for Service Disabled Veterans, the Native American Business Alliance, U.S. PAN Asian American Chamber of Commerce, the Women's Business Enterprise National Council, or the federal or state government. For more information visit www.verizon.com/supplierdiversity.