Report: Disabled Vets' Share Of IT Market To Soar By 2009Report: Disabled Vets' Share Of IT Market To Soar By 2009

IT contracts by companies owned by disabled veterans are expected to account for $2.8 billion by 2009--a dramatic increase from 2003's $103 million figure--according to a report released Tuesday by government market research firm INPUT.

The jump will be fueled by recent legislation (The Veterans Benefit Act of 2003) and by Executive Order 13360, issued by President Bush in 2004.

The legislation "allows procurement offices to restrict certain procurements to Service Disabled Veteran-Owned Businesses (SDVOB) or even award sole-source contracts to them," INPUT stated, noting that the measures were created to help veteran-owned businesses become more competitive in the federal market.

The governmental market-research firm noted that earlier efforts to improve disabled veterans' abilities to obtain government business were largely ineffective.

"One of the greatest challenges facing government officials is in locating qualified and capable Service Disabled Veteran-Owned Businesses organizations," said Megan Gamse, senior analyst, federal contract opportunities product at INPUT, in a statement. "The census bureau reports more than 4.2 million veteran-owned businesses with 320,000 of them designated as a SDVOB and only a fraction of those businesses registered as federal government contractors."

Gamse said INPUT is basing its prediction of a 2,600 percent rate gain in the next five years based on the new legislation and increased maturation of the market.