Beginning October 1, veteran-owned businesses will receive up to a 15% price preference for certain state Department of Administrative Services open-market orders or contracts.

To qualify, the business must have gross revenue of up to $3 million in the most recently completed fiscal year, and at least 51% of the ownership must be held by one or more veterans.

Under existing law, a “veteran” is anyone honorably discharged or released from active service in the U.S. Armed Forces or their reserve components, including the Connecticut National Guard performing duty under Title 32.

To receive the 15% price preference, a bidding business must first obtain a veteran-owned micro business certification from the Connecticut Department of Veterans Affairs.

Information for this post originally appeared in an article from Connecticut by the Numbers.