DATE: Oct. 23, 2009
Texas Tech Reaches
Top 20 in use of Historically Underutilized Businesses
Texas Tech University is among the Top 20 of state agencies
and universities in the use of Historically Underutilized Businesses (HUBs). A
HUB business is one that is 51 percent owned by a woman or a minority.
Of the 200 state agencies and public universities that
report HUB transactions to the Texas Comptroller’s office, Texas Tech ranked
20. This is the first time Texas Tech has ranked in the top 20.
From office supplies to major construction projects almost
28 percent of Texas Tech’s expenditures are with HUB vendors. The Texas Tech
University System has made the HUB program a priority for each of the system’s
institutions.
“It is a policy of the Texas Tech University System and its
component institutions to enhance equal participation from all businesses for
our purchases and contracts,” said Kent Hance, Texas Tech System Chancellor.
“This ranking confirms Texas Tech University’s commitment to increasing
opportunities for historically underutilized businesses in the state.”
Texas Tech’s use of HUB vendors has dramatically increased
in the last six years with HUB utilization growing from 3.5 percent in 2002 to
27.63 percent in fiscal year 2008-2009. Texas Tech’s total expenditures were
$137,619,231 in 2008-2009 with $38,026,464 going to HUB vendors.
“It is a priority for the university to do business with
historically underutilized businesses,” said Bubba Sedeno, Texas Tech HUB
manager. “The procurement services staff and all Texas Tech employees should be
credited with this accomplishment.”
:end
-30-