HUBZone Update

Last Updated on Nov 21, 2017 at 10:21am | Garrett County Economic Development

Article courtesy of the Garrett County Chamber of Commerce.
 
  
The National Defense Authorization Act of 2018 (NDAA) has passed both the House and the Senate and is on its way to the President's desk. The NDAA includes important changes to the HUBZone program. The changes contained in this bill represent the culmination of advocacy efforts led by the National HUBZone Council and supported by your local community.
 
The following changes will be made to the HUBZone program as a result of this bill:
 
--Freezes HUBZone maps until January 1, 2020 and transitions the program to 5-year map updates after 2020
--Provides state governors the ability to petition the SBA Administrator to designate areas that have an average unemployment rate at
   least 120% of national or state average -- whichever is lowest -- as HUBZones; petitions require annual resubmission
--Removes the qualifier "nonmetropolitan" from "state median income" when determining HUBZone program eligibility
--Requires the SBA to make a determination on a firm's HUBZone eligibility within 60 days of application receipt
--Ensures that BRAC counties receive HUBZone eligibility for a full 8 years beginning on the date the county was designated a BRAC
--Requires the Small Business Administration (SBA) to conduct a study on small business participation on Multiple Award Contracts (MACs)
 
Thanks to this grassroots advocacy, we were able to focus Congressional attention on the vital need to reform the HUBZone program, and ensure that it was included in one of the few must-pass bills before the end of the year.
 
The Chair of the HUBZone Council, Shirley Bailey of GCC Technologies, and Council member Dennis DuFour of TDEC testified before Congress and had many meetings with Congressional members on the issue.
 
We are indebted to them for their efforts. Thank you also to Congressman Delaney, Senator Van Hollen and Senator Ben Cardin.