Wednesday, April 2, 2008

Historically Underutilized Business Zones (HUB Zones)

HUB Zone is a US Small Business Administration program for companies that operate and employ people in Historically Underutilized Business Zones (HUB Zones). The federal government is required to contract with HUB Zone certified small businesses; the annual goal is 3% for all federal agencies.

Major companies such as CAT and John Deere, government prime contractors, have similar requirements.Businesses will be designated as HUB Zone certified if they meet the following criteria:

1. The business must be a small business.

2. The business must be entirely owned by citizens of the United States.

3. The principal office for the corporation must be in a HUB Zone.

4. 35% of a company's staff including consultants must reside in a HUB Zone.

The map above shows the HUB Zone in the City of Peoria. It is generally the older part of the city in the Heart of Peoria.

The HUB zone provides a tremendous opportunity for new start up businesses that plan to sell services or products to the Federal Government or large corporations.

Linda Krendick <> and Stephanie Hiltsley <> 309 999-4592 Procurement Technical Assistance Center (PTAC) at Illinois Central College

Rachael Parker 309 494-8646 Peoria City Hall

Sally Hanley 309 495-5953 Economic Development Council for Central IL

More info at:

PTAC Power Point below: