RealNews

Report: Federal IT spending has doubled in five years

Federal spending on information technology doubled between 1997 and 2001, with the bulk of those funds going to larger businesses, according to a study released Tuesday by the General Accounting Office (GAO-03-384R). Federal agencies in 2001 purchased 62 percent of their IT services and supplies from large companies. Twenty-one percent of IT services were purchased from medium-sized businesses and 14 percent from smaller entities, the GAO report said. GAO defined small businesses as those with less than $21 million in annual receipts. Medium-sized businesses were defined as those with $21 million to $500 million in revenues, and all companies with more than $500 million revenues were defined as large. Full Story

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