TSBs

In 1986, the Iowa General Assembly passed the "Iowa Targeted Small Business Procurement Act" and created the Targeted Small Business Program. The purpose of the Targeted Small Business Program is to promote the growth, development, and diversification of small Iowa businesses owned by women, minorities, and disabled persons. A Targeted Small Business is defined as a small business which is fifty-one percent or more owned, operated, and actively managed by one or more women, minority, or disabled persons. In addition, the business must be located in Iowa, operated for profit, and have an average income of less than three million dollars, computed as an average of the three preceding fiscal years.

Board of Regents policy and the Code of Iowa establish a minimum goal of making at least ten percent of the University's purchases from certified Iowa Targeted Small Businesses (TSB's). A good reference is the Iowa Economic Development TSB directory database. Procurement Services will make it's best efforts to include TSB's in bid solicitations, whenever a TSB exists that sells the product or service being bid. Departments making purchases through delegated procurement authority (such as Purchasing Cards and Professional Services Agreements) are encouraged to utilize TSB vendors.