On Thursday, April 2 at 11 AM ET, the USFCR Academy will be hosting a webinar on the HUBZone set aside. Sign up on our webinar page and get a head start with this blog post.
HUBZone stands for Historically Underutilized Business Zone, and it is a set-aside that is mostly based on business location and employee residence.
As defined by FAR 19.1301:
“The purpose of the HUBZone Program is to provide Federal contracting assistance for qualified small business concerns located in historically underutilized business zones in an effort to increase employment opportunities, investment, and economic development in those areas.”
The program began in 1998 as a way to add stimulus income to communities. The main requirement for HUBZone is that the primary business location must be located in a HUBZone, plus at least 35% of the employees must live in a HUBZone. The business must also be considered small as defined by the SBA’s size standards.
FACT
The SBA updates the HUBZone location map with data from the census tract, base closure data, qualified Indian lands, and non-metropolitan counties. The HUBZone map can be found here.
Did You Know
5% of all federal contracting dollars are supposed to be set aside for HUBZone vendors. This is a total of 13 billion dollars allocated for this set-aside; however, it is not being spent as current spending shows the government falls short at only 2.05% spending with HUBZone vendors.
This leaves a $6 billion opportunity open for federal contractors to register and fill this gap. HUBZone vendors must re-certify annually to verify that their employees meet the 35% location requirement.
Back to Basics
To fully ensure that a business is registered properly, it is a good idea to have an expert look at the registration. Luckily, USFCR has a special services team that will look at a vendor's SAM registration and be able to pre-qualify a business before all documentation is gathered for processing.
Need Assistance in Government Contracting?
For over ten years, US Federal Contractor Registration (USFCR) has been helping businesses of all industries and sizes succeed in the federal marketplace. This includes fast and accurate registrations, training, and providing technological resources.
To get in touch with a government contracting expert and find out how USFCR can help your business win federal contracts, call: (866) 216-5343
