Glossary term
HUBZone
Historically Underutilized Business Zone — SBA program for small businesses located in economically distressed areas.
The SBA's HUBZone program certifies small businesses located in Historically Underutilized Business Zones and that have at least 35% of employees living in a HUBZone. Certified firms are eligible for set-aside and sole-source contracts and receive a 10% price-evaluation preference in full-and-open competitions. HUBZone has a statutory 3% government-wide contracting goal. Eligibility must be maintained annually.
Categories
- set-asides
- sba
Related terms
- 8(a) Business Development ProgramSBA program that helps socially and economically disadvantaged small businesses compete for sole-source and set-aside contracts.
- WOSB / EDWOSBWomen-Owned Small Business / Economically Disadvantaged WOSB — SBA programs setting aside contracts for women-owned firms.
- SDVOSBService-Disabled Veteran-Owned Small Business — SBA/VA program for firms owned by service-disabled veterans.