HUBZone Program Map Update
Somerset County businesses may now be eligible for the Historically Underutilized Business Zones (HUBZone) program. The HUBZone program helps small businesses in urban and rural communities gain preferential access to federal procurement opportunities. To qualify for the program, a business must meet the following criteria:
- It must be a small business by SBA standards
- It must be owned and controlled at least 51% by U.S. citizens, or a Community Development Corporation, an agricultural cooperative, or an Indian tribe
- Its principal office must be located within a “Historically Underutilized Business Zone,” which includes lands considered “Indian Country” and military facilities closed by the Base Realignment and Closure Act
- At least 35% of its employees must reside in a HUBZone
The July 2017 update of HUBZone maps include Somerset County entirely. There are several reasons being HUBZone certified is beneficial for a company, including:
- Competitive and sole source contracting
- 10% price evaluation preference in full and open contract competitions, as well as subcontracting opportunities
- 3% Federal Procurement goal for prime contracts
If you would like to learn more about the HUBZone Program, contact us at (814) 254-4022 or (814) 254-4023 or via email at .
Comments for this post are closed.