Historically Underutilized Business Zones 2015

<p style='margin-top: 0.5em; margin-bottom: 0.5em; line-height: inherit; color: rgb(34, 34, 34); font-family: sans-serif; font-size: 14px; background-color: rgb(255, 255, 255);'><b>HUBZone</b> is a <a href='https://en.wikipedia.org/wiki/United_States' style='text-decoration-line: none; color: rgb(11, 0, 128); background: none;' rel='nofollow ugc'>United States</a> <a href='https://en.wikipedia.org/wiki/Small_Business_Administration' style='text-decoration-line: none; color: rgb(11, 0, 128); background: none;' rel='nofollow ugc'>Small Business Administration</a> (SBA) program for small companies that operate and employ people in Historically Underutilized Business Zones (HUBZones). The HUBZone program was created in response to the HUBZone Empowerment Act created by the <a href='https://en.wikipedia.org/wiki/US_Congress' style='text-decoration-line: none; color: rgb(11, 0, 128); background: none;' rel='nofollow ugc'>US Congress</a> in 1998.<a href='https://en.wikipedia.org/wiki/HUBZone#cite_note-1' style='text-decoration-line: none; color: rgb(11, 0, 128); background: none;' rel='nofollow ugc'>[1]</a> Based on the Act, small businesses will be designated as HUBZone certified if they have the following criteria:</p><ol><li>The firm must be a small business based on the <a href='https://en.wikipedia.org/wiki/North_American_Industry_Classification_System' style='text-decoration-line: none; color: rgb(11, 0, 128); background: none;' rel='nofollow ugc'>North American Industry Classification System</a> (NAICS)<a href='https://en.wikipedia.org/wiki/HUBZone#cite_note-2' style='text-decoration-line: none; color: rgb(11, 0, 128); background: none;' rel='nofollow ugc'>[2]</a> for size standards.</li><li>The business must be at least 51% owned and controlled by U.S. citizens, or a Community Development Corporation, an agricultural cooperative, or an Indian tribe (including Alaska Native Corporations).<a href='https://en.wikipedia.org/wiki/HUBZone#cite_note-3' style='text-decoration-line: none; color: rgb(11, 0, 128); background: none;' rel='nofollow ugc'>[3]</a></li><li>The firm's principal office (the location where the greatest number of employees perform their work, excluding contract sites) must be in a HUBZone.</li><li>35% of the firms total workforce must reside in a HUBZone.</li></ol>