{"id":35479,"date":"2008-03-26T16:35:41","date_gmt":"2008-03-26T21:35:41","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/uncategorized\/noteworthy-changes-in-socio-economic-regulations.html"},"modified":"2008-03-26T16:35:41","modified_gmt":"2008-03-26T21:35:41","slug":"noteworthy-changes-in-socio-economic-regulations","status":"publish","type":"corporate","link":"https:\/\/corporate.findlaw.com\/law-library\/noteworthy-changes-in-socio-economic-regulations.html","title":{"rendered":"Noteworthy Changes in Socio-Economic Regulations"},"content":{"rendered":"
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1. HUBZone Small Business Contracting<\/i><\/b><\/font><\/p>

On December 18, 1998, the U.S. Government adopted an Interim Rule, effective January 4, 1999, that implements a new Historically Underutilized Business Zone ("HUBZone") Program. 65 Fed. Reg. 70,265. The HUBZone Program provides federal contracting assistance for qualified small businesses located in distressed communities. A HUBZone small business is one which: (a) is owned and controlled by a U.S. citizen; (b) has its principal office located in a HUBZone; and (c) certifies that not less than 35% of its employees are residents of a HUBZone. As with other small business programs, the SBA will determine whether individual firms qualify as HUBZone small businesses. An SBA website, http:\/\/www.sba.gov\/hubzone, lists specific HUBZone areas and answers other questions about the program.<\/font><\/p>

Among the contracting opportunities offered by the HUBZone program are:<\/font><\/p>