DTE Energy Exceeding Commitments


Published:

DETROIT — DTE Energy said today that it spent $239 million with Michigan based suppliers through April 2012 as part of its commitment to the Pure Michigan procurement initiative; this is 24 percent higher than its 2012 year-to-date target and 35 percent higher than the same period in 2011.  This follows DTE Energy's 2011 Michigan-based expenditures of nearly $600 million, which exceeded the company's year-end pledged target by over 13 percent.

"DTE Energy's commitment to the Pure Michigan procurement initiative is one way in which we put into action our aspiration to be an engine for growth in the communities that we serve and help fuel Michigan's economic recovery," said Gerry Anderson, DTE Energy Chairman, President and CEO.  

In 2011, DTE Energy pledged to shift an incremental $750 million over five years to do business with Michigan based suppliers, as part of this initiative. Announced last summer at the Detroit Regional Chamber's Mackinac Policy Conference by Gov. Rick Snyder, the $8 billion dollar public-private program is designed to prepare and develop Michigan suppliers to provide services to companies across the state.

Pure Michigan Business Connect Initiative, which is administered through an alliance with the Michigan Economic Development Corporation (MEDC), also helps companies find new ways to raise capital, get access to a variety of business services and provides business-to-business procurement opportunities.

As one of the initial seven participants in the program, DTE Energy has closed deals with Michigan-based suppliers specializing in many areas, such as construction, maintenance, engineering, energy optimization, renewable energy, natural gas storage, and IT consulting services.

"We believe that Michigan companies can compete with anyone," said DTE Energy CFO Dave Meador. "Doing business with strong third-party contractors that deliver quality products is not only good for DTE Energy, it's just good business."

Edit Module
Edit Module Edit Module
Edit ModuleShow Tags Edit ModuleShow Tags

Most Popular

  1. Fast Casual Falafel Concept Coming to Detroit’s Midtown District
    A new fast-casual dining concept — billing itself as “a fast-from-scratch kitchen serving...
  2. Home Prices in Metro Detroit Jump 12%; Days on the Market Drop
    The average single-family home or condominium in metro Detroit sold for $145,000 in October, up...
  3. From Detroit to the North Pole: New App Offers Direct Line to Santa Claus
    Washington Township-based PackageFromSanta.com has launched a new app that arranges a...
  4. Birmingham Law Firm to Begin Accepting Bitcoin for Payment
    A Birmingham-based law firm announced this week it will begin accepting Bitcoin as payment in...
  5. Farbman Group Receives Award for Top Building
  6. When Corporate Culture is Set Adrift