The_HUBZone_Empowerment_Contracting_Program

The HUBZone Empowerment Contracting Program The Small Business Administration (SBA) and Congress have been working together to promote economic development and growth in distressed communities by giving those businesses which are located in such communities opportunities to contract with the federal sector. As a result of this effort the HUBZone Empowerment Contracting Program was created and enacted into law as part of the Small Business Reauthorization Act of 1997. SBA’s final ruling was published on June 11, 1998. The HUBZone Empowerment Contracting Program’s intent is to stimulate economic development and employment in urban and rural communities by establishing contracting preference standards and employment opportunities for small business concerns that are located in and persons that reside in “historically underutilized business zones” better known as “HUBZones”. Small business concerns will have the opportunity to negotiate sole source contracts and participate in restricted competition limited to small business concerns in the program. Such small business concerns will be allowed a 10% Price Evaluation Preference during full and open competition activities. This means that offers of HUBZone small business concerns will be considered lower than the price offered by a non-HUBZone entity so long as the offer of the HUBZone small business hubzone, small, business, contracts, concerns, sba, qualified, price, offers, source, sole, requirements, program, must, contracting, competition, preference, open, located, less, full, federal, contract, co, businesses, awarded, act, within, identified, evaluation, employment, concern, competitive, communities