California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

A new study commissioned by the Procurement Division of the Department of
General Services, used comprehensive economic analysis to measure the job
and economic impact of dollars spent with small and disabled veteran businesses.

The results illustrate how small and disabled veteran businesses enterprises
produce about 50 percent more overall California economic impact for each
dollar spent than large enterprises. The report also offers a picture of how
much this activity increased overall business tax revenues across California’s
economy, and how it affected different sectors of the state’s economy.

“The State’s efforts to contract with smaller business created a powerful
multiplier effect,” said Jim Butler, the state’s Chief Procurement Officer.
“$4.2 billion in new economic activity of all kinds were produced in California
by the state spending around $2.66 billion—and 25,617 jobs were created.”

In addition the study also included a survey of small and disabled veteran
business owners and made recommendations on how the state’s outreach,
certification, and bidding systems could be more effective, including more
education for smaller vendors and better advertising of bid opportunities.

To see the report, go to www.dgs.ca.gov

I am Tim Johnson and this has been the California Business Minute.