Governor Reynolds, Lt. Governor Gregg announce enhancements to Targeted Small Business program
April 30, 2018 (DES MOINES, IA) – Gov. Kim Reynolds and Lt. Gov. Adam Gregg, along with the Iowa Economic Development Authority (IEDA), announced enhancements to the State of Iowa’s Targeted Small Business (TSB) program on Monday. Established in 1986, the TSB program is designed to help women, minorities, individuals with disabilities or service-disabled veterans overcome some of the hurdles in starting and growing a small business in Iowa.
“Small business owners drive our state’s economy, and their companies are the heart and soul of our communities,” Gov. Reynolds said. “Small businesses make up more than 99 percent of Iowa businesses, so it’s critical we create an environment where diverse populations can prosper and small businesses can find opportunities and flourish.”
Over the past several years, the IEDA, in partnership with the Iowa Department of Administrative Services and Department of Inspection and Appeals, has made a concerted effort to simplify and streamline the TSB certification process. The latest improvements to the program announced on Monday include the development of an online application portal and upgrades to the online directory.
“I am pleased to see the TSB program continue to evolve and improve,” Lt. Gov. Gregg said. “These new features will minimize hurdles for prospective TSBs and create awareness of, and access to, the diverse small businesses within our state.”
To qualify as a TSB, companies must be:
- located in Iowa;
- operating for a profit;
- making less than $4 million in gross revenue annually; and
- be 51 percent owned, operated and actively managed by one or more women, minorities, persons with a disability or service-disabled veterans
There is no charge to obtain TSB certification. Benefits of certification include access to the State of Iowa’s procurement network, listing in the online TSB directory and business promotion, education and networking opportunities. Additionally, companies with diverse supplier programs recognize TSB certification to verify supplier status.
For more information on the program, visit iowaeconomicdevelopment.com/tsb.
For more information contact:
Brenna Smith, 515.281.5211
Jacque Matsen, 515.348.6245
Read the press release at iowaeconomicdevelopment.com