This Federal small business contracting program was created in 1997 to encourage economic development in HUBZones, which are areas that typically have low median household incomes and/or high unemployment rates. To identify HUBZone areas, use the SBA HUBZone map tool at http://map.sba.gov/hubzone/maps/. Currently, all neighbor islands are designated as HUBZone areas. On the island of Oahu, there are only small pockets of HUBZone designated areas.
Government Goal:
The Federal government’s goal is to award 3 percent of both prime and subcontracts to HUBZone firms. Unfortunately, this goal is one that the government consistently fails to achieve.
Benefits:
Similar to all of the other small business programs, benefits include set-aside and sole-source opportunities. Additionally, HUBZone firms enjoy a 10% price evaluation preference in full and open contract competitions, as well as subcontracting opportunities.