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Puerto Rico is currently 82 percent HUBZone-designated and the U.S. Virgin Islands is 100 percent. The U.S. Small Business Administration's (SBA) final rule issued, effective on Dec. 26, 2019, will make the program more attractive to small businesses, according to the federal agency.
What does it mean to be in a qualified HUBZone?
HUBZone program qualifications Be a small business according to SBA size standards. Be at least 51% owned and controlled by U.S. citizens, a Community Development Corporation, an agricultural cooperative, an Alaska Native corporation, a Native Hawaiian organization, or an Indian tribe.
How do I get a HUBZone business?
How to find HUBZone contractors Get personal assistance from the SBA's government contracting area offices or from Procurement Technical Assistance Centers. Contact your agency's Office of Small & Disadvantaged Business Utilization or your Agency Small Business Specialist.
How many HUBZone companies are there?
There are about 7,700 HUBZone companies, and they compete for about $2 billion in HUBZone set asides.
Is HUBZone frozen until June 2023?
Creating predictability with HUBZone designations: All HUBZone maps are frozen through June 30, 2023 and will now be updated every five years.
hubzone certification
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People also ask
Who designates HUBZone?
Under the new HUBZone rule, a governor may submit one petition per year requesting that SBA designate certain qualifying areas, including Opportunity Zones as Governor-Designated Covered Areas.
What means HUBZone?
HUBZone is a company level diversity certification referring to the Historically Underutilized Business Zone program that helps small businesses located in distressed areas gain preferential access to federal procurement opportunities.
How many HUBZone companies are there?
There are about 7,700 HUBZone companies, and they compete for about $2 billion in HUBZone set asides.
What is a SBA HUBZone area?
The Historically Underutilized Business Zones (HUBZone) program helps small businesses in urban and rural communities gain preferential access to federal procurement opportunities. These preferences go to small businesses that obtain HUBZone certification in part by employing staff who live in a HUBZone.
What is a HUBZone company?
The Historically Underutilized Business Zones (HUBZone) program helps small businesses in urban and rural communities gain preferential access to federal procurement opportunities. These preferences go to small businesses that obtain HUBZone certification in part by employing staff who live in a HUBZone.
Related links
15 U.S. Code § 657a - HUBZone program - Law.Cornell.Edu
15 U.S. Code § 657a - HUBZone program · (i). that is wholly owned by one or more Indian tribal governments, or by a corporation that is wholly owned by one or ...
The HUBZone program fuels small business growth in historically underutilized business zones with a goal of awarding at least 3% of federal contract dollars ...
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