AI-Vets is pleased to announce its certification as a HUBZone business by the United States Small Business Administration (SBA). The information technology (IT) company supports government agencies by solving their mission-critical challenges with innovative solutions.
In seeking potentially lucrative government contracts, smaller companies are often at a disadvantage compared to larger competitors with greater sales resources and cost efficiencies. To help level the playing field, the government limits competition for certain contracts to businesses in historically underutilized business zones, known as HUBZones. By giving preferential consideration to those businesses, the HUBZone program helps companies in less affluent communities get federal contracts.
Specific criteria must be met to become HUBZone certified. To qualify, AI-Vets had to submit a comprehensive application confirming these strict requirements.
HUBZone program qualifications include:
- Be a small business
- Be at least 51 percent owned and controlled by U.S. citizens, a Community Development Corporation, an agricultural cooperative, a Native Hawaiian organization, or an Indian tribe
- Have its principal office located in a HUBZone
- Have at least 35 percent of its employees live in a HUBZone
With HUBZone certification, AI-Vets will receive program benefits, including eligibility for set-aside contracts. In addition to HUBZone, AI-Vets is also a Service-Disabled Veteran-Owned Small Business (SDVOSB). Each of these SBA programs receive at least three-percent of all federal prime contracting dollars.
HUBZone-certified businesses also get a ten-percent price evaluation preference in full and open contract competitions. Government agencies are incentivized to consider bids from HUBZone businesses, even in cases where the price they offer is slightly higher than that of other firms.
As a HUBZone-certified business, AI-Vets and its customers are able to further support economic growth and opportunity in historically underutilized business zones.