The Co-Intelligence Institute // CII home // Y2K home

Federal Government to Redirect $2 Billion to SBA's new HUBZone Program


From: Leille
Date: Fri, 26 Mar 1999

This may be of value to some American readers...

The InterFed Report - March 26, 1999 ===================================================


The Federal Government will be redirecting $2 Billion to the SBA's new HUBZone program over the next year. Learn more about this exciting program and a lot more in this report.

Best wishes,

N. Nia Vice President InterFed


SBA Rolls out the HUBZone Empowerment Contracting Program.

Yesterday the SBA announced their "Job-Creating HUBZone Program" was now open for business. The HUBZone Empowerment Contracting program is designed to dramatically increase economic and job creation in targeted urban and rural areas, or HUBZones (named for an "historically underutilized business zone").

SBA Administrator Aida Alvarez stated, "This program can help open the doors of opportunity for small businesses in many locations throughout the country," and " I encourage small business owners to either go on-line or visit an SBA district office to see if you're qualified and fill out an application as soon as possible."

This program looks like a classic "win-win" and your next step should be to determine if your business is already within an area designated as a HUBZone. You can determine if your company is located within a HUBZone by using a new system available on the SBA's Web site, at

Still not convinced its worth your time? Read on. The first year goal of the program is to channel at least one percent of overall federal procurement to HUBZone small businesses, which at current spending levels equates to about $2 billion in contracts and by 2003 that goal rises to its maximum level of three percent, which translates to about $6 billion.

To participate in the program your principal office and 35 percent of your firm's workforce must reside within a HUBZone location and business owners must be U.S. Citizens. More than 7,000 urban census tracts and 900 mostly rural counties currently qualify as HUBZones. All federally-recognized Native American reservations also qualify. They have a fantastic tool at their site which will help you quickly determine where these HUBZones are.


NEXT Y2K RISK DATE - April 1- Fiscal Year 2000 for NY state, Canada, Mexico, Japan

leille sussman president, sussman inc, year 2000 program consultants Oregon Manufacturing Extension Partnership Year 2000 Program Manager lYear 2000 planners and booklets for individuals and business, (503) 641-2906 Portland, Oregon USA