Poorest miss HUBZone benefits

      HUBZones offer economic benefits, but the benefits generally do not flow to a community’s poorest neighborhoods, according to a recent analysis of 20 years of HUBZone data by the Washington Post.

      In Washington, DC, about $800 million set aside for HUBZone firms was awarded to only 11 businesses, which is about 70% of all HUBZone awards to firms in the city, the Post found. Most of those firms were located in HUBZones in “downtown” DC areas, with poverty rates of 25%, and not the poorest areas with more than 40% in poverty.

      “Businesses in wealthier parts of the city have grown larger through securing HUBZone contracts, while those in the city’s poorest areas — locations the program was designed to help — have largely been left behind,” the study authors wrote.

      An SBA official told the Post that the agency does not monitor awards by HUBZone.

More information:
Washington Post story : https://wapo.st/2vFcLXc

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