Woman-Owned IT Company Wins Cut Of $20B Federal Contract
Ideal System Solutions secured a slice of a $20 billion federal contract aimed at stimulating growth in IT firms across the country.
Elise Hernandez, CEO of the Minnetonka-based company, announced the news at an event attended by Gov. Mark Dayton and Sens. Amy Klobuchar and Al Franken.
A total of 65 companies will split the money with no specifics on how much each business would receive. The “Everything IT” government-wide contract will span ten years, meaning the contract could boost revenues by about $30.8 million per company per year if the $20 billion pool was given an even split.
“I am elated that Ideal has been awarded this contract,” Hernandez said in a statement. “We have spent the past 18 years developing strategic partnerships with innovative technology manufacturers and service partners to provide clients ‘best-in-class’ technology products, services and support.”
The National Institute of Health awarded the money with a focus on small businesses. Of the 65 named, 44 were small businesses. Ideal was the only Minnesota-based, Hispanic, woman-owned business to earn a share of the contract. Some of the larger companies listed alongside Ideal were AT&T, Dell, and Hewlett-Packard.
“Small businesses like Ideal System Solutions are engines of economic growth in our state and our nation, creating tens of thousands of jobs every year in Minnesota alone,” said Klobuchar in a statement. Senator Franken added that this was “a great milestone” for Hernandez, her company and Minnesota’s small business community as a whole.
Hernandez built Ideal from its Brainerd Lakes location 18 years ago to now servicing clients nationwide with offices in Minnetonka, Brainerd Lakes, New Mexico, Iowa and Virginia.