COHN-REZNICK

Helping minority-owned businesses participate in the billion-dollar JFK airport opportunity zone

Collaborating with state and local economic development programs and using the Tax Cuts and Jobs Act to bring MWBE companies into the new JFK Airport construction program.

THE CLIENT

CohnReznick

New York-headquartered CohnReznick is the 14th largest accounting firm in the U.S. by annual revenues. In 2020, it booked $697.3 million in revenues. The firm provides advisory, assurance, and tax services to companies across numerous industries, including affordable housing, commercial real estate, construction, private equity, financial services, hospitality, consumer, manufacturing and distribution, renewable energy, technology, life sciences, cannabis, healthcare, government, not-for-profit, government contractors, medical, law firms, and private clients. CohnReznick employs more than 3,000 people and has approximately 275 partners.

SERVICES

• UX Research
• User Flows
• Personas
• Journey Maps
• Information Architecture
• Ideation
• Wireframing
• UI Design
• Prototyping

PROJECT OVERVIEW

In 2020, New York’s Governor Cuomo raised the minority-owned business utilization rate to 30% for all new state contracts, the highest in the nation. The key to the success of the New York State's MWBE program is the development of a strong and sustainable effort that monitors and promotes engagement of MWBE businesses in every arena of State contracting.

In October of 2018, Governor Cuomo announced a historic $13 billion plan to transform a modern 21st-century airport anchored by two new world-class international terminal complexes on the airport's north and south sides.

THE CHALLENGE

Increase awareness and education of Opportunity Zone contracts for MWBE owned companies.

The JFK Redevelopment Program aimed to award 30% of its $10 billion funding to minority and women-owned businesses (MWBEs), as well as a preference for local small businesses.

1. MWBEs have a difficult time navigating all of the compliance hoops.
2. The Redevelopment Commission wants to find more qualified MWBE vendors to award contracts.

THE SOLUTION

Build a portal that allows qualified minority and women-owned business vendors to apply for construction contracts and take part in the $10 billion dollar JFK Redevelopment Program.

1. Increase the amount of qualified MWBE applicants for the JFK Redevelopment Program.
2. Help educate MWBEs about navigating complex compliance requirements.
3. Create an easy-to-access online listing of JFK construction contracts for MWBE's to apply for.

“Opportunity Zones were created to stimulate economic development and job creation in low-income neighborhoods by incentivizing long-term investments in these areas. ”

IRA WEINSTEIN
Managing Principal, CohnReznick

CR-MBWE-Dashboard-with-Won-Opportunities

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