HAMPTON – Virginia Governor Timothy M. Kaine today honored state agencies for their exemplary work to increase procurement opportunities for Small, Women and Minority businesses in the Commonwealth.
“During my administration we have tripled the amount of state expenditures for SWaM businesses in the Commonwealth,” Governor Kaine said. “Today, thanks to the efforts of the agencies I’m honoring, SWaM is one of the first considerations for awarding contracts. This is a great accomplishment not only for Virginia’s businesses but also Virginia’s industrial base and jobs, both of which depend on the success of small businesses.”
The Commonwealth’s expenditures for SWaM businesses have increased from $674 million annually in 2006 to $1.8 billion in 2009. Minority spending increased from 2 percent of all procurement in 2006 to 5 percent in 2009; Women spending increased from 2 percent 2006 to 5 percent in 2009; and small business spending increased from 9 percent in 2006 to 31 percent in 2009.