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Indiana's VBE Program provides additional economic opportunities by setting a goal of at least 3% of the state of Indiana’s competitive contracts for purchase of goods and services to Indiana veteran-owned businesses. The goal is to help men and women who return home after serving their country to start or expand their own business.
The primary goal of state’s IVBE program is to create an environment that:
- A Veteran (as defined by IC 5-22-14-2.5), who owns a business that has its principal place of business located in Indiana has two options:
- A firm must be certified by the Department of Veterans Affairs, or the State Program, before contract award to be counted towards the IVBE goals set by the State of Indiana for IVBE spent.
- To utilize an Indiana veteran owned business enterprise (IVBEs) for the procurement of goods and services for the state of Indiana with a goal of at least three percent of state contract spend
- Managing the Indiana Veteran Business Enterprises program and monitoring state purchasing for IVBE participation
- Managing prime contractor commitments to ensure compliance with requirement respective to the use of Indiana Veteran Business Enterprises
- The Department of Administration will prepare and submit annually a report to the governor and to the public, which shall describe the activities and efforts conducted by the state and the outcome, progress and the achievements made by this initiative