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The HUBZone program is also designed to stimulate investments, creation of jobs, and economic development and improvement in both rural and urban communities through the provision of federal contracting preferences to firms that are recognized by the Small Business Administration as an accredited HUBZone business.
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The Small Business Administration has established the Historically Underutilized Business Zones (HUBZone) Empowerment Contracting Program wherein they aim to provide federal contracting assistance to eligible small business corporations which are located in underutilized business zones so as to improve their employment opportunities, investments, and their area's economic development. The Small Business Administration will identify which businesses are eligible to receive HUBZone contracts and will then maintain a list of qualified HUBZone small businesses which federal agencies can then use to locate them. |
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In order to be considered eligible to apply for the Historically Underutilized Business Zones (HUBZone) Empowerment Contracting Program, the applicant must be:
a) Classified as a small business as defined by SBA standards
b) Owned and controlled (at least 51st percent) by one or more US citizens, a Community Development Corporation, an agricultural cooperative or an Indian tribe
c) Located in a HUBZone area
d) Certify that at least 35% of its employees/workers are living in the HUBZone area.
The Small Business Administration has constantly been working towards the maintenance and improvement of the nation's economy by providing protection, assistance, and counseling to the interests of small business establishments.
In the fiscal year 2004, over 2,294 business were certified as HUBZone qualified small businesses.
Historically Underutilized Business Zones - HUBZone Empowerment Contracting Program
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About The Author Michael Saunders is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. He also maintains Websites providing resources on environmental grants and grants for youth programs. |
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