Washington state increases Veteran-Owned Business spending by 152% in 2024

OLYMPIA, Wash. — The Washington State Department of Veterans Affairs is celebrating a 152% increase in spending with Veterans-Owned Businesses (VBOs) in this fiscal year.

The increase represents a $27.5 million increase over the past three-year average and a result of Executive Order 22-01, which promotes equity in public contracting.

This achievement can be attributed to the WDVA for their collaborative work with state agencies to increase contracting opportunities for VOBs.

With more than 500,000 veterans in the area, there’s a big push to help them access government contracts. Making Washington a hotspot for veteran entrepreneurs.

“Supporting our state’s Veteran-owned businesses leads to greater community prosperity through job creation and investments in local economies,” said David Puente, WDVA Director.  “Veterans bring unique skills and experiences to the business world, including leadership, discipline, and strategic thinking and their businesses thrive in sectors from construction to health care, to information technology. Increasing participation with Veteran-owned businesses contributes to a diverse business landscape and enhances innovation and creativity in our marketplaces.”

WDVA has now led the way in increasing the number of VBOs by 23% over the past three years, now totaling more than 2,544.

“We are excited to celebrate this success with WDVA. Washington small businesses are the backbone of our economy, and many of them are veteran-owned and diverse,” said Department of Enterprise Services Director Tara C. Smith.  “We are grateful for our partnership in supporting utilization of small businesses and knowing we are all in this together for the long haul, even as we acknowledge there is more work to do in this ongoing effort.”

More information on VBOs can be found on the WDVA website.

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