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:
- Promotes meaningful business opportunities.
- Builds productive partnerships.
- Creates successful integration of Indiana veteran-owned businesses within the business infrastructure of the state of Indiana.
- An Indiana firm, with its principal place of business located in Indiana, currently certified by the Department of Veterans Affairs as a veteran-owned business, will be eligible.
- A firm must be certified by the Department of Veterans Affairs before contract award to be counted.
- The state of Indiana will utilize the Federal Center for Veterans Business Enterprise and its VetBiz registry that follows the guidelines as set by (38CFR Part 74) Veterans Business Regulations to determine eligibility.
- To utilize 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 (3) 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.