NORFOLK, Va. — Gov. Ralph Northam signed and executive order at Norfolk State University on Wednesday.
Executive Order Thirty-Five establishes goals and programs aimed at expanding opportunities for Virginia’s small-, women-, minority-, and service disabled veteran-owned businesses.
Northam has directed agencies and institutions that have statutory authority over procurement to achieve a target of procuring 42 percent of discretionary spending from certified small businesses.
It also maintains a set-aside for certified micro businesses, which have fewer than 25 employees and no more than $3 million in average annual revenue over a three-year period.
“Small businesses are a vital economic engine for Virginia, making up 97 percent of all businesses, but we know there is work to do to ensure they have equal opportunity to grow and succeed in our Commonwealth,” Northam said.
“With this Executive Order, we are strengthening our commitment to expanding small business participation in state contracting and achieving equity for our women- and minority-owned businesses.”
The full executive order text can be found here.