REDUCING POVERTY

On April 10, 2018, Executive Order (EO) 13828 was signed to promote economic mobility, strong social networks, and accountability. The EO requires federal agencies to submit recommended regulatory and policy changes and other activities to accomplish the principles outlined in the order. HUBZone contracting goal achievement as statutorily required must be included. By achieving the 3% goal of total prime and subcontract awards for each fiscal year, agencies will infuse millions annually, fostering economic independence, strengthening family bonds, and eliminating both the economic stagnation and social harm to family and children while introducing reform in order to increase self-sufficiency, well-being, and economic mobility. HUBZone businesses have the unique qualifications to address this goal. The HUBZone Act of 1997 requires HUBZone small businesses to: (a) employ at least 35% of the total workforce who reside within a qualified HUBZone area and (b) maintain a principal office located within the qualified tract. Qualified tracts are determined by economic indicators such as poverty rates and unemployment rates. By contracting with HUBZone businesses, the federal government and all other organizations are improving individuals’ lives and their communities.