I have a Secret Clearance with DOD but my new project with Dept of Commerce requires Public Trust SF85P (Tier 4 high risk). Can I keep two clearances with two different agencies.
Do you work for a contractor that supports both DoD and Dept of Commerce contracts? If so, the company can probably hang on to your DoD clearance for some period of time as long as you are still employed there. It can be more complicate to keep a higher level clearance “active” if you are not actively working some job that requires it, but usually keeping a DoD secret active is not as much of a problem.
And if your situation is something different, you can have your clearance reinstated within two years (usually).
The short answer is yes. It is not unusual for contractors working multiple contracts to have different investigations/access levels. Many contract investigators have different investigation levels.
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