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Maryland increases statewide VSBE participation goal

Governor Wes Moore of Maryland recently announced that the Governor's Office of Small, Minority and Women Business Affairs is increasing the current participation goal for Veteran-Owned Small Business Enterprises (VSBEs) from 1 percent to 3 percent. The news was announced on September 18, 2024, and was declared effective immediately.

Maryland's VSBE Enterprise Program was established in 2010, and has seen a 41 percent increase in certified vendors over the preceding fiscal year, making for a current total of over 900 certified VSBEs. The program works to set contract-specific goals that are meant to support the overall VSBE participation goal that was increased to 3 percent state-wide.

"Today, we take a critical step forward in our ongoing mission to build new pathways to wealth creation for Maryland veterans and military families," said Governor Moore in a statement.

Read the press release from the Governor's office at https://governor.maryland.gov/news/press/pages/governor-moore-increases-procurement-goal-for-veteran-owned-small-business-enterprise-program-participants.aspx.