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More businesses looking for LGBT-owned suppliers

Photo by Robert Scott via Flickr Creative Commons

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Starting this year, utility companies in California will be required to report how much they work with LGBT-owned contractors.

It's part of a greater effort already underway by many federal agencies and private companies: encouraging bids from LGBT-owned businesses as a way to increase diversity among their suppliers.

Garry Gekht, president of the LA Gay and Lesbian Chamber of Commerce, explains why reaching out to the LGBT community is becoming more important to the business world.