HARTFORD, Conn. – For the fourth straight year, United Technologies Corp. (NYSE: UTX) is on DiversityBusiness.com's list of the Top 50 Organizations for Multicultural Business Opportunities.
UTC's supplier diversity program exemplifies DiversityBusiness.com's goal of recognizing corporate leadership that provides business opportunities for diverse companies, according to the publication.
"At UTC, supplier diversity is about creating a competitive advantage," said Jothi Purushotaman, UTC vice president, operations. "Multicultural suppliers bring new perspectives that create innovation, enhance productivity and improve our products and services."
During the past six years, UTC has spent approximately $1.7 billion with minority suppliers at an annual estimated growth rate of 18 percent.
DiversityBusiness.com's list, known as the Div50, is based on an online survey of 650,000 diversity business owners. UTC ranked 18th on this year's list, up from 20th last year.
United Technologies Corp., based in Hartford, Conn., provides energy efficient and high technology products and services to the building and aerospace industries.
Since 2005, UTC has been on the list of Global 100 Most Sustainable Corporations in the World, at the World Economic Forum in Davos, Switzerland. The company also has been on the Dow Jones Sustainability Indexes every year since the indexes began in 1999.