DTE Energy spends $3.3 billion with Michigan suppliers in 2024

Rhea-AI Summary

DTE Energy invested $3.3 billion with Michigan suppliers in 2024, creating and sustaining approximately 14,000 jobs across the state. The company has invested over $24 billion with Michigan-based suppliers since 2010, supporting 92,000 jobs statewide.

Regional investments in 2024 included: $2.53 billion in Southeast Michigan and Metro Detroit (11,000 jobs), $138 million in West Michigan (550 jobs), $20 million in Northern Michigan (90 jobs), $286 million in South Michigan (1,200 jobs), $176 million in Central Michigan (700 jobs), $137 million in the Thumb Region (600 jobs), and $31 million in the Upper Peninsula (140 jobs).

The company also achieved nearly $1 billion in spending with certified diverse suppliers in 2024, advancing its 2020 diversity goal.

Positive

• Invested $3.3 billion with Michigan suppliers in 2024, creating 14,000 jobs
• Achieved nearly $1 billion in spending with certified diverse suppliers
• Strong regional economic impact across all Michigan areas
• Received 72 supplier diversity industry awards since 2018

Negative

• None.

Insights

Financial Analyst

DTE Energy's $3.3 billion investment in Michigan suppliers during 2024 demonstrates robust supply chain localization and economic multiplier effects. The company's cumulative $24 billion investment since 2010 has created substantial economic value, supporting 92,000 jobs across the state. The strategic allocation across different regions, with $2.53 billion concentrated in Southeast Michigan, reflects a well-diversified supplier network that reduces operational risks while stimulating regional economic development.

The nearly $1 billion spent with certified diverse suppliers aligns with ESG objectives and modern corporate governance standards, potentially improving the company's ESG ratings and attractiveness to institutional investors. The focus on EV charging infrastructure installation through partnerships like Detroit Voltage positions DTE strategically in the growing electric vehicle market, supporting long-term revenue diversification.

Market Research Analyst

The geographical distribution of DTE's supplier investments reveals a strategic approach to market penetration and community development. The concentration of $955 million in Detroit suppliers strengthens the company's core market presence while the broader regional distribution ensures balanced economic development. The investment pattern correlates with population density and energy demand centers, optimizing operational efficiency.

The company's participation in Pure Michigan Business Connect creates a sustainable supplier ecosystem, reducing supply chain vulnerabilities. The focus on diverse suppliers and local businesses enhances community goodwill and brand value, important factors for utility companies operating in regulated markets. The EV charging infrastructure expansion indicates forward-thinking market positioning in anticipation of growing electric vehicle adoption rates.

Economic Development Expert

DTE's supplier investment strategy exemplifies effective regional economic development through strategic procurement. The creation and maintenance of 14,000 jobs in 2024 alone represents significant economic impact, with multiplier effects extending beyond direct employment. The regional distribution of investments - from $138 million in West Michigan to $31 million in the Upper Peninsula - demonstrates a comprehensive approach to statewide economic development.

The emphasis on diverse suppliers and local businesses creates sustainable economic ecosystems, particularly beneficial in underserved communities. The mentorship programs and capacity-building initiatives for diverse entrepreneurs contribute to long-term economic resilience. This model of corporate-driven economic development, combined with workforce development through skilled trades promotion, creates lasting positive impacts on regional economic health.

Company has invested $24 billion with local suppliers since 2010, creating and sustaining 92,000 Michigan jobs

Detroit, Jan. 13, 2025 (GLOBE NEWSWIRE) -- For Detroit Voltage, a Detroit-based energy projects and electric infrastructure company, becoming a DTE supplier has been a game changer.

Since last spring, Detroit Voltage has installed hundreds of EV charging stations on behalf of DTE. Founder and CEO Deana Neely says the consistent pipeline of opportunities shines a positive light on her community-focused, forward-thinking business.

Recently, Detroit Voltage won a contract to provide public safety and field support in the aftermath of large storms. They are currently staffing up for this new contract.

“The benefits of our collaboration with DTE go beyond EV charging installations and improved electrical safety,” Neely said. “We’re making a tangible positive impact on our community by generating good-paying job opportunities that improve the local economy.”

Neely is passionate about inspiring others to get involved in renewable energy and skilled trades. She mentors other female business owners and is finishing up a book that teaches women how to launch a construction business.

“This work is about breaking down doors and offering opportunities to those behind me,” she said. “I want to let people know the possibilities are endless.” 

The relationship highlights DTE’s commitment to invest in local suppliers and drive statewide economic growth.

DTE spent $3.3 billion with Michigan businesses in 2024, creating and sustaining nearly 14,000 jobs across the state. The company continues to be a leader in partnering with local suppliers. It has invested more than $24 billion with Michigan-based suppliers since 2010, creating or sustaining 92,000 Michigan jobs.

“Doing business in the communities we serve grows Michigan’s economy and puts people to work,” said Jaspreet Singh, DTE’s vice president of Corporate Services. “Our investments in local and diverse companies contribute to a thriving statewide economy and enable us to deliver higher quality, lower cost service to our customers.”  

 DTE partners with businesses throughout Michigan:

• • Southeast Michigan and Metro Detroit: DTE bought nearly $2.53 billion in goods and services from 1001 companies, including $955 million with companies located in Detroit. These efforts generated and supported at least 11,000 jobs.
  • West Michigan: DTE spent $138 million with 167 companies, creating or sustaining more than 550 jobs.
  • Northern Michigan: DTE invested more than $20 million with 108 companies, positively impacting about 90 jobs.
  • South Michigan: DTE partnered with 275 companies, spending $286 million and adding or maintaining 1,200 jobs.
  • Central Michigan: DTE invested $176 million with 94 companies, creating or sustaining 700 jobs.
  • Thumb Region: DTE spent $137 million with 118 companies, positively impacting 600 jobs.
  • Upper Peninsula: DTE partnered with 48 businesses, spending $31 million and generating or supporting about 140 jobs.

DTE is a founding member of Pure Michigan Business Connect, a unit of the Michigan Economic Development Corporation, that encourages businesses to buy from Michigan suppliers and connects local companies with in-state opportunities.

Last year, DTE also made progress toward an ambitious goal set in 2020, spending nearly $1 billion with certified diverse suppliers. A significant number of DTE’s diverse business partners are local companies creating jobs right here in Michigan. The company has earned more than 72 supplier diversity industry awards since 2018 and has partnered with organizations like the National Minority Supplier Development Council and the Great Lakes Women’s Business Council.

“We host and attend outreach events to meet diverse business owners where they are, and connect them with new opportunities,” Singh said. “Through mentoring, we help diverse entrepreneurs build their capacity for growth. This innovative approach diversifies our supply chain and generates thousands of jobs across our state.”

About DTE Energy 

DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.3 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers across Michigan. The DTE portfolio also includes energy businesses focused on custom energy solutions, renewable energy generation, and energy marketing and trading. DTE has continued to accelerate its carbon reduction goals to meet aggressive targets and is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy, emission reductions and economic progress. Information about DTE is available at dteenergy.com, empoweringmichigan.com, twitter.com/dte_energy and facebook.com/dteenergy. 

For further information, members of the media may contact: 
Lisa Bolla, DTE Energy, 313.235.5555 

Attachment

• DTE invests with Michigan businesses

FAQ

How much did DTE Energy (DTE) invest in Michigan suppliers in 2024?

DTE Energy invested $3.3 billion with Michigan suppliers in 2024, creating and sustaining approximately 14,000 jobs across the state.

What is DTE's total investment in Michigan suppliers since 2010?

DTE has invested more than $24 billion with Michigan-based suppliers since 2010, creating or sustaining 92,000 Michigan jobs.

How much did DTE (DTE) spend in Southeast Michigan and Detroit in 2024?

DTE spent nearly $2.53 billion with 1001 companies in Southeast Michigan and Metro Detroit, including $955 million with companies located in Detroit.

What is DTE's progress on supplier diversity spending in 2024?

DTE spent nearly $1 billion with certified diverse suppliers in 2024, advancing towards their diversity goal set in 2020.

How many jobs did DTE's supplier investments create in Michigan regions in 2024?

DTE's investments created or sustained 11,000 jobs in Southeast Michigan, 550 in West Michigan, 90 in Northern Michigan, 1,200 in South Michigan, 700 in Central Michigan, 600 in the Thumb Region, and 140 in the Upper Peninsula.