19.1301
General
The HUBZone Program provides federal contracting advantages to qualified small businesses in economically disadvantaged areas to promote local economic growth.
Overview
FAR 19.1301 introduces the Historically Underutilized Business Zone (HUBZone) Program, established by the HUBZone Act of 1997. The program is designed to provide federal contracting assistance to qualified small businesses located in designated HUBZones. Its primary goal is to stimulate economic development, increase investment, and create employment opportunities in areas that have historically faced economic challenges. This section sets the foundation for the detailed requirements and procedures outlined in the rest of Subpart 19.13, emphasizing the government's commitment to supporting small businesses in underutilized areas through federal procurement opportunities.
Key Rules
- Establishment of the HUBZone Program
- The HUBZone Program was created by the HUBZone Act of 1997 to support small businesses in economically disadvantaged areas.
- Purpose of the Program
- The program aims to boost employment, investment, and economic growth in HUBZones by providing federal contracting advantages to eligible small businesses.
Responsibilities
- Contracting Officers: Must be aware of the HUBZone Program and consider its requirements when planning and awarding contracts.
- Contractors: Small businesses seeking HUBZone status must ensure they meet eligibility criteria and maintain compliance to benefit from the program.
- Agencies: Should promote and track HUBZone participation to meet socioeconomic contracting goals.
Practical Implications
- This section establishes the legal and policy basis for HUBZone contracting preferences, impacting how contracts are set aside and awarded.
- Contractors in HUBZones can gain competitive advantages, but must understand and comply with program requirements.
- Common pitfalls include misunderstanding eligibility or failing to maintain HUBZone certification.