The Small Business Administration and Gov. John Bel Edwards on Tuesday announced an expansion of the HUBZone program across Louisiana. The program provides small businesses in low-income communities with opportunities to compete for contracts in the federal marketplace.
The expansion adds 25 zones in the state, expanding access and eligibility to small businesses in Ascension, East Feliciana, Iberville and West Baton Rouge parishes, among others.
'This program will provide businesses in historically underutilized areas, including economically challenged rural communities, the opportunity to expand and access new markets,' Edwards says.
To be eligible for the program, communities must have a population of no more than 50,000 and an average unemployment rate that is at least 120% of the average unemployment rate for the U.S. or state (whichever is lowest).
There are currently 128 active HUBZone firms in Louisiana. In the 2021 fiscal year, firms in the state received more than $217 million in federal contract obligations, of which nearly $44 million involved HUBZone contracts. Read the full release.