The FSIC New Jersey Policy Initiative is a strategic effort to address systemic disparities affecting Black and other minority communities, focusing on government contract awards, healthcare access, and digital equity. By advocating for fair procurement policies, expanding healthcare resources, and improving access to technology, the initiative seeks to create lasting economic and social change. Through policy reforms, community programs, and partnerships, FSIC aims to eliminate barriers and promote equity in these critical areas.
Black-owned businesses constituted 9.19% of available construction firms but received only 0.14% of the contract dollars.
The FSIC New Jersey Policy Initiative seeks to address systemic bias in government contracting by advocating for legislation that ensures fair access for minority businesses.
Minority-owned businesses overall represented 27.97% of available construction firms yet secured just 3.69% of prime contract dollars.
Through collaboration with elected officials and community groups, the initiative seeks legislative remedies to level the playing field and promote economic equity.
The New Jersey Disparity Study, released in January 2024, analyzed state contracting from 2015 to 2020 to assess fairness for minority- and women-owned businesses. The findings revealed severe disparities, with Black-owned businesses receiving far fewer contracts than their market availability suggests. The study underscores the need for policy reforms to promote equitable access to government contracts.
NEW JERSEY DISPARITY STUDY #3
NEW JERSEY DISPARITY STUDY #4
Now that government regulations have
both increased US prescription drug coverage rates to more than 93% and placed price caps on certain medications, it’s time to focus on other aspects of the healthcare system that adversely impact patients.
FSIC Focus: Continuing the Fight in Healthcare Access
Getting the healthcare you need can be expensive in this country, hurting Americans every single day. That’s why we at the New Jersey chapter of the Financial Services Innovation Coalition (FSIC) have been fighting tooth and nail to bring down those prices. We are fighting this fight in the name of healthcare inclusion and access, and it’s worth celebrating victories when we get them.
“More than 93% of Americans have insurance for prescription drugs”
This means more New Jerseans can afford the life-saving and
life-improving medications they need.
Where do we go from here?
FSIC New Jersey is coming to the table and doing the hard work with our partners to find ways to bring all healthcare prices down while encouraging research & development, innovation, and domestic supply chains.
But drug prices aren’t the only issue we face that increases the cost of health care. We must keep working with hospitals and insurance companies to let them know that the status quo isn’t acceptable. The solutions are clear, we must make progress on: