News Release
Indiana Launches Small Business Program
Indiana Governor Mike Braun has announced the launch of the Indiana Small Business Program, aimed at enhancing the small business environment for Hoosiers and facilitating their participation in state procurement.
The program is designed to provide qualified Indiana small businesses with greater opportunities to compete for state purchases, thereby increasing the volume of goods and services procured from Indiana-based small enterprises.
“Indiana’s small businesses are the engine of the Hoosier economy, and we are committed to supporting their continued growth and success,” said Gov. Braun. “Small businesses are ready to do business with the state, and we are making that easier than ever.”
As part of the program, the existing Buy Indiana initiative will be expanded, allowing more Indiana businesses to qualify for points in the procurement process.
“State procurement can be a valuable pathway to growth for Indiana’s small and entrepreneurial businesses,” commented Vanessa Green Sinders, president and CEO of the Indiana Chamber of Commerce. “Creating meaningful access to those contracting opportunities can help more of them compete. As the new program is implemented, we look forward to collaborating with the administration and business community to evaluate its effectiveness.”
Lisa Hershman, Indiana Secretary of Management and Budget, stated, “This program offers the state an opportunity to strengthen participation by Indiana small businesses while ensuring the essential competition and accountability in responsible procurement. Our focus is on creating a practical program for businesses, effective for agencies, and providing value for Hoosier taxpayers.”
Eligibility Criteria
To be eligible for the program, businesses must generate no more than $10 million in annual gross receipts averaged over the last two years and meet at least one of the following criteria:
- Be registered as a domestic business with the Indiana Secretary of State.
- Pay a majority of their payroll to Indiana residents.
- Employ Indiana residents as a majority of their workforce.
- Make significant capital investments in Indiana.
In addition to connecting qualified small businesses with procurement opportunities through the Buy Indiana program, the state will offer technical assistance, training, and resources to help businesses understand the procurement process better and enhance their competitiveness for state contracts.
Legal Update
In July, Gov. Braun announced that Indiana would discontinue race- and sex-based contracting preferences after a legal opinion from Attorney General Todd Rokita determined that such preferences violate the Equal Protection Clause of the Fourteenth Amendment. The state’s Veteran Owned Small Business Program remains unchanged.
For More Information
For more information and application instructions, please visit the IDOA website. To hear Gov. Braun discuss the program further, click here.
