Episode 8: Leverage Your HUBZone Certification with Michelle Burnett

Episode 8,   Oct 04, 2023, 01:00 PM

The Historically Underutilized Business Zones (HUBZone) program in the United States is designed to provide economic benefits to both disadvantaged communities and small businesses. While the primary goal of the program is to promote job creation and economic development in historically neglected or underutilized areas, we discuss several economic benefits to social equity that the HUBZone program provides with Michelle Hunter, Executive Director of the HUBZone Contractors National Council, such as:

Job Creation: One of the primary economic benefits of the HUBZone program is job creation in economically distressed communities. By incentivizing small businesses to locate and hire employees from HUBZone areas, the program helps reduce unemployment and poverty rates, contributing to a more equitable distribution of economic opportunities.
Business Growth: Small businesses that qualify for the HUBZone program receive preferential access to federal contracts, which can lead to significant business growth and revenue generation. This, in turn, allows these businesses to invest in their local communities, hire more employees, and contribute to the economic development of HUBZone areas.
Infrastructure Development: As HUBZone businesses grow and thrive, they often invest in infrastructure development and improvements in their local communities. This can include building new facilities, upgrading existing ones, and investing in technology and equipment, all of which contribute to the economic vitality of the area.
Supplier Diversity: The HUBZone program encourages federal agencies and prime contractors to diversify their supplier base by seeking out HUBZone-certified businesses. This diversity not only promotes social equity but also fosters competition and innovation in the marketplace, potentially leading to cost savings and improved quality in goods and services.
Wealth Redistribution: By fostering economic growth in historically disadvantaged areas, the HUBZone program contributes to wealth redistribution, helping to narrow the wealth and income gaps between different regions and communities. This can lead to greater social equity and improved overall economic stability.
Community Revitalization: The presence of successful HUBZone businesses can act as a catalyst for community revitalization. These businesses often engage in community development projects, support local schools and nonprofits, and help improve the overall quality of life in HUBZone areas.
Entrepreneurship and Skills Development: The program encourages entrepreneurship and skills development in HUBZone communities by providing opportunities for residents to start and operate their own businesses. This can lead to long-term economic self-sufficiency and empowerment for individuals in these areas.

Get in touch with Michelle Burnett at:
LinkedIn: https://www.linkedin.com/in/michelle-burnett-21737771/
Website: www.hubzonecouncil.org
Email: michelle.burnett@hubzonecouncil.org
Phone: +1 (240)-442-1787

Interested in joining the conversation? Contact us for more info:
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