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HUB Zone
The U.S. Small Business Administration’s Historically Underutilized Business Zone (HUBZone) Program helps small businesses gain preferential access to federal procurement opportunities. The entire city of Asbury Park is a HUBZone.
Advantages of having a business in the HUBZone include:
- Competitive and sole source contracting
- 10% price evaluation preference in full and open contract competitions, as well as subcontracting opportunities.
- The federal government has a goal of awarding 3% of all dollars for federal prime contracts to HUBZone-certified small business concerns.
For more information about the SBA’s HUBZone Program, including how to apply for certification, please visit the program website.
To qualify for the HUBZone program, a business must meet the following criteria:
- It must be a small business by SBA standards
- It must be owned and controlled at least 51% by U.S. citizens
- Its principal office must be located in a designated HUBZone
- At least 35% of its employees must reside in a HUBZone
How the HUBZone Program Works
The SBA regulates and implements the HUBZone program. SBA does the following:
- Determines which businesses are eligible to receive HUBZone contracts
- Maintains a listing of qualified HUBZone small businesses that federal agencies can use to locate vendors
- Adjudicates protests of eligibility to receive HUBZone contracts
- Reports to the Congress on the program’s impact on employment and investment in HUBZone areas
Interested in Locating Your Business in the Asbury Park HUBZone?
Our HUBZone Business Development Packet will soon be available on this website and contain valuable information about the City of Asbury Park.
Already have a Business in the Asbury Park HUBZone and want to take advantage of these opportunities?
Existing Asbury Park businesses can apply for the HUBZone program providing they meet the criteria outlined by the SBA for a small business. The application process takes approximately eight months to complete. Start the process here.
Make sure to view the HUBZone application guide first before applying. The guide can be viewed here.
