HUBZone in Preston County; Building Booming Business in West Virginia
26 May 2023
Preston County, West Virginia officially became a designated HUBZone in March. The HUBZone designation will provide pathways for opportunities in Preston County. In essence, The HUBZone program helps small businesses in historically underutilized areas by giving them special consideration on government contracts; in full and open contract competitions, HUBZone-certified businesses also get a 10% price evaluation preference.
In an article with The Preston County News and Journal, Preston County Economic Development Authority (PCEDA) Executive Director Robbie Baylor stated that achieving HUBZone status is very significant. “We have been working with the governor’s office for several years to get this status because it will benefit our existing businesses and make our county more attractive for businesses that are relocating or expanding. The U.S. Government is the largest purchaser of goods in the world, and it is extremely beneficial for our businesses to get preferential treatment on government contracts.”
HUBZone in Preston County; Small Business Support on Local, State, and National Levels
Small businesses are crucial to the health of local, state, and national economies. According to the US Small Business Administration Office of Advocacy, small businesses create two-thirds of net new jobs and account for 44% of U.S. economic activity. However, small businesses face many difficulties. For many small businesses, competition can be fierce–particularly when it comes to competing for government contracts. By giving the existing businesses a leg up in securing reliable and lucrative government contracts, moreover, The HUBZone Program limits competition and gives small businesses a chance.
West Virginia is one of the first 10 states to expand the HUBZone program. Secretary of the West Virginia Department of Commerce James Bailey West Virginia stated, “Supporting small businesses and providing them the tools to succeed themselves is critical to the continued economic growth of our State. The Department of Commerce in collaboration with the Governor is working to make those programs and opportunities available and accessible throughout the State.”
In addition to the HUBZone, Preston County offers several other forms of assistance on local levels. PCEDA can leverage grant funds to build access roads for industrial businesses, provide assistance in securing tax credits, and identify business loan and assistance programs. With several local resources combined with the new HUBZone status, Preston County is a fruitful location for small businesses.
Preston County Wants Your Business; Get HUBZone Certified Today
With small business assistance like the HUBZone program, there are many reasons for small businesses to relocate to Preston County. With the ability to forge federal connections, small businesses have the chance to excel in Preston County.
To qualify for the HUBZone program, businesses must:
- Be a small business according to SBA size standards
- Be at least 51% owned and controlled by U.S. citizens, a Community Development Corporation, an agricultural cooperative, an Alaska Native corporation, a Native Hawaiian organization, or an Indian tribe
- Have its principal office located in a HUBZone
- Have at least 35% of its employees living in a HUBZone
To learn more about the HUBZone program in Preston County, click here.