March 15th, 2023 by WCBC Radio
Gov. Jim Justice is pleased to announce that his petition for Boone, Clay, Hampshire, Monroe, and Preston Counties to be Governor-designated HUBZones has been approved by the U.S. Small Business Administration. The Historically Underutilized Business Zone (HUBZone) program gives participating small businesses access to exclusive federal contracting opportunities and preferential price evaluations when bidding on at-large federal contracts. West Virginia is one of the first 10 states to petition for expanding access to this program through Governor-designated HUBZones.
“This announcement will bring more opportunities to these counties, and we're excited to see what the future looks like," Gov. Justice said. "We are one of the first ten states that have expanded the HUBZone Program, and that's really amazing. So, for Boone, Clay, Hampshire, Monroe, and Preston counties, a lot more good stuff is coming to your county, and we can't wait to see how you take advantage of this news."
Small businesses now have access to markets where they were previously excluded or where they suffered a competitive disadvantage. The U.S. Small Business Administration and Governor Justice’s designations are in addition to existing WV HUBZones where businesses are already bringing federal dollars into the state. Three percent of all federal contracts are to be funded through this program. In 2020, West Virginia small businesses contracted for $48 million worth of goods and services. In 2022, WV small businesses contracted for an estimated $99.7 million.
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