Arvco Container is proud to have been awarded with HUBZone Certification from the U.S. Small Business Administration. In this post, we’ll look at what this means for our clients and us.
What is a HUBZone Certification?
HUBZone stands for the Historically Underutilized Business Zones program. This program, established by the U.S. Small Business Association (SBA), was created in response to the HUBZone Empowerment Act passed by the U.S. Congress in 1998. It is designed to make it easier for small businesses across the country to access federal procurement opportunities, with an annual goal of awarding 3% of all government contracts to HUBZone-certified companies, creating billions in sales revenue nationally that goes back to their communities. The ultimate objective is to use this program as a means of creating more employment opportunities in designated HUBZone areas, like downtown Kalamazoo where Arvco Container’s corporate office is located.
Who Qualifies for the Certification?
Businesses may apply if they provide job opportunities in the designated HUBZones. To qualify, all companies must meet the following criteria:
- Classified as a “small business” as defined by the SBA, typically companies with 500 staff or less.
- The majority ownership and control of the company must be in the hands of American citizens.
- The zone where the company is located must be identified as a dedicated HUBZone.
- At least 35% of the company’s employees must also live in this zone.
Why this HUBZone certification is great for everyone?
This program assists companies, like Arvco, that are investing in communities where fewer opportunities exist. These investments are vital to local economies because they create better jobs. Better job opportunities help revitalize communities. HUBZone-certified businesses benefit by having access to a broader range of business opportunities. Communities benefit because residents have more access to employment opportunities near their home.
It’s a win-win! And it is an honor for Arvco to be awarded this extraordinary certification.
For more information about HUBZone Certification, go to sba.gov.