New Toyota goals could yield contracts worth millions of dollars for women-owned businesses

Suppliers encouraged to reach out

Now that Toyota has reached its goal of spending 5 percent of its North American purchasing dollars with minority-owned businesses, the automaker wants to boost spending with women-owned companies, too.

At the annual Toyota Opportunity Exchange in November, the automaker made a surprise announcement that it has set a 2 percent women-owned business target for its Tier 1 suppliers.

That means Toyota wants its own direct suppliers to spend money with women-owned companies.

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