HUBZone expansion on July 1 will make more areas eligible for funding
HUBZones are designated based on economic and population data from the Census Bureau and other federal agencies, using a formula established by Congress. The expansion is the result of the 2020 Census.
The U.S. Small Business Administration (SBA) has announced the launch of a new Historically Underutilized Business Zone (HUBZone) preview map, which shows that hundreds of firms in newly designated underserved areas will become eligible to apply for HUBZone certification, enabling them to compete for billions of dollars in federal contracts set aside for HUBZone-certified firms, to create jobs, and to improve the economy in their communities.
According to the news release from SBA, the HUBZone preview map shows changes that are scheduled to take effect on July 1, 2023, reflecting updates from the 2020 U.S. Census. HUBZones are designated based on economic and population data from the Census Bureau and other federal agencies, using a formula established by Congress. The map update highlights growth opportunities for small businesses in more than 20,000 HUBZone areas across the United States and Territories, including 3,732 newly qualified communities.