If you're thinking of opening your own business in the Wiregrass, you'll want to attend a free seminar in Ozark Thursday.
The seminar will focus on a new federal program called HUBZone.
HUBZone is designed to promote economic development and create jobs by providing federal contracting preferences to small businesses.
The businesses get preference by maintaining a "principal office" and employing staff that live in a HUBZone.
Areas that qualify include parts of Dale and Houston counties, as well as Covington, Crenshaw and Geneva counties.
The program begins at 1:30 p.m. at the Ozark Technology Center.
To register, call 334-774-4952 and leave a message.
wtvynews4.com Extended Web Coverage
HUBZone Empowerment Contracting Program
The HUBZone (Historically Underutilized Business Zone) Empowerment Contracting program was enacted into law as part of the Small Business Reauthorization Act of 1997.
The program encourages economic development in historically underutilized business zones -- "HUBZones" -- through the establishment of preferences. The program stimulates economic development and creates jobs in urban and rural communities by providing Federal contracting preferences to small businesses.
What is a HUBZone?
- A qualified census tract.
- A qualified "non-metropolitan county" with a median household income of less than 80 percent of the state median household income or with an unemployment rate of not less than 140 percent of the statewide average, based on U.S. Department of Labor recent data.
- Lands within the boundaries of federally recognized Indian reservations.
HUBZone Eligibility
A small business must meet all of the following criteria to qualify for the HUBZone program:
- It must be a small business by SBA size standards.
- It must be located in a "historically underutilized business zone" or HUBZone.
- It must be owned and controlled by one or more U.S. citizens.
- At least 35 percent of its employees must reside in a HUBZone.
Source: https://eweb1.sba.gov/hubzone/internet/ (HUBZone Empowerment Contracting Program)
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