A key benefit of relocating to Vermillion, SD was being able to develop our Federal Public Sector business by entering into the HUBZone program. Having both SBA 8(a) certification and HUBZone certification greatly benefits the company in winning federal government contracts.
To qualify for the HUBZone program, the 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, or a Community Development Corporation, an agricultural cooperative, or an Indian tribe.
Its principal office must be located within a “Historically Underutilized Business Zone,” which includes lands considered “Indian Country” and military facilities closed by the Base Realignment and Closure Act.
At least 35% of its employees must reside in a HUBZone.
The Historically Underutilized Business Zones (HUBZone) program helps small businesses in urban and rural communities gain preferential access to federal procurement opportunities. Why? The program exists so the federal government can help improve the economy in these designated areas.
As of the date on this posting, all of Clay County is designated a HUBZone. A few weeks ago, it was only the central portion of Vermillion. Now, we try to obtain our employees from all parts of Clay County. There are currently 17 HUBZone certified companies in SD.
Additional information can be found here: