Where a company’s home office is located and even where its employees live determine whether it gets a bigger slice of the juicy federal pie of contracts and sub-contracts.
The Small Business Administration designates certain geographic locations throughout the country as Historically Underutilized Business Zones, or HUBZones.
HUBZone firms in Madison County were awarded almost $42 million in federal contracts in the 2018 fiscal year, according to Tom Todt, director of the Alabama District office of the U.S. Small Business Administration.
Alabama has 135 HUBZone-certified companies and 47 of those are in Madison County, said Mary Jane Fleming, Procurement Business Adviser for the Alabama Procurement Technical Assistance Center. That center is co-located with the University of Alabama in Huntsville’s Small Business Development Center at the Huntsville-Madison County Chamber of Commerce. PTAC helps companies with HUBZone certification and other SBA contracting programs at no cost.
Similar to set-aside contracts for businesses owned by minorities, women or service-disabled veterans, the HUB program is designed to give an advantage to certain areas based on history and demographics.
“The SBA HUBZone program’s purpose is to increase employment opportunities, investments and economic development” in those areas, Fleming said.
Continue reading at: AL.com