By Kathleen Lucadamo
DAILY NEWS STAFF WRITER

Gov. Paterson told hundreds of college graduates Saturday that he wants to encourage more minority-owned and women-owned businesses in the state.

In his commencement address at Medgar Evers College in Brooklyn, the governor said he would expand an executive order to make sure such businesses are fairly considered for state contracts.

“We are going to issue an executive order about the procurement with minority- and women-owned businesses – right here in the state of New York – for a contract for investment banking and for savings and bonds and insurance, and we are going to do it this week,” he said.

Paterson told the graduates more minority-owned businesses in Huntsville, Ala., than in New York made Black Enterprise magazine’s rankings.

“But there is good news: There’s a new sheriff in town,” he said to thunderous applause.

There is already a similar executive order covering state contracts with other fields, but the new measure would expand the measure to apply to banking, insurance and the sale of securities and bonds.