How do "preferences" work in New Jersey procurement?

In New Jersey procurement, preferences are designed to promote and support specific categories of businesses, notably local or minority-owned businesses. By granting these preferences, the state aims to enhance economic opportunities for underrepresented groups and stimulate local economies. This can manifest in various forms, such as allowing these businesses to receive priority in bid evaluations or giving them an advantage in scoring during the bidding process.

This approach not only helps to level the playing field for local firms but also aligns with broader goals of fostering diversity and inclusion within public procurement. The preference system is a structured way to ensure that certain vendors are given equitable chances to compete for state contracts, ultimately benefiting the community as a whole.

While the other options relate to practices in procurement, they do not align with the specific purpose of preferences in New Jersey.