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ANNAPOLIS, MD - Governor Wes Moore September 18, 2024 announced that the Governor's Office of Small, Minority and Women Business Affairs has increased the Veteran-Owned Small Business Enterprise Program's participation goal from 1% to 3%, effective immediately.
"The military teaches you not just how to serve, but also how to lead. Our veteran entrepreneurs are mission-driven, hard-charging, and deeply committed to making Maryland better. We have an obligation to answer their service with our support," said Gov. Moore. "Today, we take a critical step forward in our ongoing mission to build new pathways to wealth creation for Maryland veterans and military families."
Maryland's Veteran-Owned Small Business Enterprise Program was enacted in 2010 to enhance opportunities for veteran-owned small businesses to participate in state-funded contractors. The Governor's Office of Small, Minority and Women Business Affairs administers the program across 51 participating agencies and departments.
Over the past fiscal year, the program has experienced a 41% increase in certified vendors. Today, more than 900 veteran-owned companies are certified in the program.
The Veteran-Owned Small Business Enterprise Advisory Committee, led by Governor's Office of Small, Minority and Women Business Affairs Special Secretary Y. Maria Martinez, was instrumental in advocating to align Maryland's veteran participation goals with surrounding jurisdictions. Goals are determined on a contract-by-contract basis. Only the work of a certified Veteran-Owned Small Business Enterprise, performing as either a prime contractor or a subcontractor, can be counted toward achievement of an established contract goal.
“Our veteran community is actively engaged in the growth and development of the state's VSBE Program," said Special Secretary Martinez. “The support and guidance we receive from the members of the VSBE Advisory Committee has been invaluable and inspiring."
“Raising the VSBE goal to 3% will unlock new opportunities for veteran-owned businesses, fostering innovation and prosperity," said Dobbs Defense Solutions President and Chief Executive Officer Erica Dobbs. Dobbs, who serves on the VSBE Advisory Committee, was named SBA's 2024 Veteran Business Owner of the Year. “I believe this aligns perfectly with the governor's 'Year for Military Families' initiative, significantly enhancing Maryland's support for veteran entrepreneurs and promoting a more inclusive business landscape," Dobbs said.
To learn more about the Veteran-Owned Small Business Enterprise Program, visit goMDsmallbiz.maryland.gov.