The US General Services Administration (GSA) reported that 45 contract holders had exercised the five-year option for the VETS 2 Governmentwide Acquisition Contract. This will enable government agencies to continue procuring cutting-edge information technology services while assisting service-disabled veteran-owned small businesses (SDVOSBs).

GSA is the federal government's centralized procurement and shared services agency and oversees approximately $75 billion in annual contracts and delivers technology services to millions of people across dozens of federal agencies. The GSA aims to provide the government with the finest customer experience and value in real estate, acquisition, and technology services.

According to Sonny Hashmi, commissioner of the GSA's Federal Acquisition Service, “This partnership has resulted in more than $2.7 billion in awarded federal contracts in the base period and is expected to continue growing during the option period.” 

The Associate Administrator for the Office of Small and Disadvantaged Business Utilization, Exodie C. Roe III said: "This five-year contract option will continue the partnership between GSA and the [SDVOSB] IT community to create opportunities and enhance offerings to federal agencies."

The following are some of VETS 2's main benefits for the government:

1. The contract's scope was created to satisfy a wide range of varied agency needs, including those related to new and emerging technologies
2.  All contract types are accepted, including fixed price, cost reimbursement, time and materials, and labor hour
3. Because of the contractor reporting mechanisms, GSA can monitor IT spending and support ordering contracting officers with price comparisons.

Additionally, as officials point out, this will assist government efforts to improve equity and promote a level playing field for underserved small business owners.