Early on in our business we learned that we were located in a “HUBZone” or Historically Underutilized Business Zone…doesn’t mean much to you? It didn’t to us either. But as we grow in our work with the federal government, we’ve begun to realize what it’s all about.
HUBZones, or “historically underutilized business zones”, are regions designated by the SBA that the federal government is interested in investing in order to help foster greater community and residential growth. There are many HUBZone areas throughout the country and nearly every metropolitan area has some segment of it designated as a HUBZone – and some rural areas are as well. Because of the government’s interest in driving growth in these areas, a certified HUBZone company has competitive advantages in pursuing contracts with the federal government. In fact, a certain percentage of business is targeted to be set aside for HUBZone certified companies.
To be certified, you must be located in a HUBZone and TiER1 is. You must also have a certain percentage of employees living in a HUBZone. We have decided to make a strategic commitment to this program; we think the program is great as it allows us to continue our investment in our community and help attract outside investment (by way of government contracts) to help build up those around us.
To acquire the certification we have set up a new legal entity, TiER1 Government Solutions. TiER1 Government Solutions will be our “sister” company that specializes in HUBZone contracts and helps grow this segment of our business. We’re excited about the impact this will have both on our ability to create learning and knowledge oriented solutions for the government and to continue to attract investment to the Covington area.
