Back in April, the Connecticut state Senate unanimously approved, 35-0, a bill that would make the state the most Veteran-owned business friendly in the nation. The bill would give Veteran-owned businesses a 15 percent preference on bidding for state contracts. Fast forward to today, that bill has since passed into law and will take effect on October 1.
According to Connecticut by the Numbers, "These businesses must have a gross revenue of up to $3 million in the most recently completed fiscal year, and at least 51% of the ownership must be held by one or more veterans. Under existing law, a “veteran” is anyone honorably discharged or released from active service in the U. S. Armed Forces or their reserve components, including the Connecticut National Guard performing duty under Title 32 (such as certain Homeland Security missions)."
"This new incentive for Veteran owned businesses to go after state contracts is truly a great outcome for the state of Connecticut,' said RESOLUTE Partners CEO Michael Blanco. "We have a long history with the military and Veterans are some of our nations most valuable citizens and business owners."
The National Veteran-Owned Business Association has been campaigning since March to increase the Connecticut bidding percentage. "The organization noted that 27 states have programs in place to create opportunities for veteran-owned businesses, and that New Mexico had recently increased its preference to 10 percent. At the time, Connecticut’s veterans preference also stood at 10 percent."
RESOLUTE Partners works with several Veteran-owned small businesses on commercial and federal projects for advanced wired and wireless networks . If you're a Veteran-owned small business and interested in learning more about Resolute's capabilities, please visit here.