The HUBZone
program was enacted into law as
part of the Small Business Reauthorization
Act of 1997. It encourages economic
development in historically underutilized
business zones - "HUBZones"
- through the establishment of
preferences. It provides federal
contracting opportunities to qualified
small businesses located in these
distressed areas to help empower
communities, create jobs, and
attract private investment.
A firm can be found to be a qualified
HUBZone concern, if:
1. it is small;
2. it is located in an "historically
underutilized business zon"
(HUBZone);
3. it is owned and controlled
by one or more U.S. Citizens;
and
4. at least 35 percent of its
employees reside in a HUBZone.