A U.S. Small Business Administration (SBA) program that promotes economic development and job creation in historically underutilized business areas by providing federal contracting preferences to qualified small businesses located in designated HUBZones. Certified HUBZone businesses may compete for HUBZone set-aside contracts, receive evaluation preferences in certain full and open competitions, and participate in sole-source awards when statutory requirements are met. To qualify, businesses must meet SBA eligibility criteria, including maintaining a principal office in a HUBZone and employing a specified percentage of employees who reside in HUBZones. The federal government has established annual contracting goals to increase awards to HUBZone-certified small businesses.
HUBZone
An SBA programme giving federal contracting preferences to small businesses in historically underutilised business zones.
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Related Glossary Terms
The official compilation of permanent U.S. federal laws, providing the statutory basis for many contracting requirements.
A global classification system used to categorize products and services for procurement and spend analysis.
A unique 12-character identifier assigned via SAM.gov to organizations doing business with the federal government, replacing the DUNS number.
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