DETROIT, Oct. 1, 2012 /PRNewswire/ -- DTE Energy said today it has exceeded target for spending with Michigan based companies through August, as part of its ongoing commitment to the Pure Michigan Business Connect Initiative. Through August, DTE Energy spent $498 million with Michigan-based suppliers compared to $334 million during the same period a year ago.
DTE Energy said also it expects to surpass its annual spend target of $575 million by the end of 2012 and now expects to spend $700 million with Michigan suppliers by December 31, 2012.
"DTE Energy's commitment to the Pure Michigan procurement initiative continues to be an engine for growth in the communities that we serve," said Gerry Anderson, DTE Energy Chairman, President and CEO. "This has been a tremendous contribution to the emerging market of suppliers that have improved their processes and are helping to revitalize this state's economy."
The company's overall supply-chain spend is expected to result in the creation of more than 6,800 full-time jobs in Michigan, by the end of the year.In addition to its focus on actively seeking Michigan suppliers, DTE Energy is also increasing awareness around spend with Detroit-based suppliers. 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.