The Historically Underutilized Business Zones (HUBZone) program is vital to the success of Fearless and our team members. If you’re not familiar, the HUBZone program helps companies in economically distressed areas do business with the Federal Government.
Fearless is not only a HUBZone designated company, but we also work with the Small Business Administration to improve the tools available to HUBZone companies.
“The HUBZone Program has played a huge part in helping Fearless grow. By increasing our access to contracts with the government, the HUBZone Program has helped us to work with some really incredible government agencies,” said Fearless founder Delali Dzirasa. “We’ve been lucky enough to work with SBA to modernize their HUBZone tools, giving us the chance to not only benefit from the program itself, but to help other small business grow their companies.”
We are urging lawmakers to support H.R. 3294, a bipartisan bill that would help HUBZone areas that could be redesignated and potentially add up to 1,000 new HUBZones in rural and non-urban counties. These changes will give more stability to companies currently participating in the HUBZone program and could allow more businesses to participate in the program.
“The HUBZone program recognizes the benefits that federal contracts have for local communities that are often struggling to create and retain well-paying jobs,” said bill co-sponsor Rep. Nydia Velázquez (D-NY) in a release . “After carefully studying and listening to small businesses on the ground, I’m confident the reforms we are proposing will strengthen the HUBZone initiative and, ultimately, mean greater economic opportunity for those living in economically distressed regions.”
A key factor in determining HUBZone eligibility is not only the location of a business but also the addresses of its employees. Our offices at Spark Baltimore and bwtech@UMBC are in HUBZone and more than 35% of our employees live in HUBZones as well.
Without H.R. 3294, the HUBZone maps could be redrawn without much notice and our team’s homes and offices could no longer be eligible for the program.
We urge our lawmakers in Washington D.C. to support this bill and the HUBZone program.