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SBA
HUBZone ("Historically Underutilized Business
Zone")
Administered
by the United States Small Business Administration, the
purpose of the “HubZone” Empowerment Contracting
Program is to stimulate economic development and create
jobs in urban and rural communities by providing Federal
contract preferences to small businesses.
What is a HUBZone?
A HUBZone is an area that
is situated in one or more of the following:
-
A qualified census
tract (as defined in section 42(d)(5)(C)(i)(I) of the Internal Revenue
Code of 1986);
-
A qualified
“non-metropolitan county” (as defined in section 143(k)(2)(B) of
the Internal Revenue Code of 1986) with a median income of less than
80 percent of the State median household income or with an
unemployment rate of not less than 140 percent of the statewide
average, based on U.S. Department of Labor recent data; or
- Lands
within the boundaries of federally recognized Indian reservations.
These are the twelve qualified HUBZone
census tracts within the City of Orlando: 0145.02,
0146.01, 0121.00, 0117.01, 0117.02, 0119.01,
0115.00, 0114.00, 0104.00, 0105.00, 0106.00,
0101.00
In order to qualify for the HUBZone
program, a small business:
- Must have its principal office located
in a "historically underutilized business zone" or HUBZone,
including lands on federally recognized Indian reservations;
- Must be 51% owned by a US
citizen(s). Additionally approved ownerships including Community
Development Corporations, Indian Tribes and agricultural cooperatives;
- Must be a small business by SBA size
standards, and
- At least 35% of employees must reside in
a HUBZone.
For
more information contact 407.246.2821 or visit http://www.sba.gov/hubzone.
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