- Promote meaningful business opportunities for Indiana Veterans
- Build productive partnerships
- Create successful integration of Indiana veteran owned small businesses within the business infrastructure of the State of Indiana
Benefits of Certification
Businesses that are certified as an Indiana Veteran Owned Small Business will affect the award process for state purchases.
Solicitations under $75,000
In solicitations under $75,000, IVOSB Prime Contractors can claim a Price Preference of 15% (Indiana Small Business Price Preference).
The IVOSB Prime Contractor must meet the definition from IC 5-22-14-3.5.
Solicitations over $75,000
In solicitations over $75,000, prime Contractors will be encouraged to utilize IVOSB subcontractors to meet goal participation. IVOSB subcontractors must provide goods/services specific to the contract and provide a letter to the prime contractor verifying IVOSB certification.
IVOSB subcontractors are required to submit subcontractor receivable information into the State of Indiana Pay Audit System for monitoring of prime contractor payment commitments.
In order to be certified/registered as an Indiana Veteran Owned Small Business, a business must be an Indiana business registered through the U.S. Department of Veterans Affairs or through the State of Indiana registration process.
U.S. Department of Veterans Affairs Eligibility
To review the U.S. Department of Veterans Affairs program and eligibility visit the Veterans Affairs Office of Small and Disadvantaged Business Utilization web page.
State of Indiana IVOSB Application Eligibility
The state certification requires the company be at least 51% owned by a Veteran, who must have control over the management and day to day operations and meet one of the following:
- Pays the majority of its payroll (in dollar volume) to residents of Indiana;
- Employs Indiana residents as a majority of its employees;
- Makes a significant capital investment in Indiana; or
- Has its headquarters in the State of Indiana.
Indiana Code IC 5-22-14-2.5 defines Veteran as
- An Individual who has previously served on active duty in any branch of the armed forces of the United States or their reserves, in the National Guard, or in the Indiana National Guard; and received an honorable discharge from service.
- Or an Individual who is currently serving in any branch of the armed forced of the United States or their reserves, the National Guard or the Indiana National Guard.