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  • SBA Issues Rule that Will Allow Governors to Seek HUBZone Designation for Certain Rural Areas

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    November 21, 2019
    The U.S. Small Business Administration today issued a direct final rule that will allow governors to petition the SBA's Administrator to designate HUBZone status to certain covered areas.  A covered area is an area in a state that is located outside of an urbanized area, as determined by the Census Bureau.  The rule is published in the Federal Register and effective January 1, 2020, unless significant adverse comment is received by December 15, 2019. 

    Under the rule, a governor may submit one petition per year for a covered area or areas.

    In reviewing a request for designation included in the petition, the Administrator may consider:
    • The potential for job creation and investment in the covered area;
    • The demonstrated interest of small businesses in the covered area to be designated as a Governor-designated covered area;
    • How state and local government officials have incorporated the covered area into an economic development strategy; and
    • If the covered area was a HUBZone before becoming the subject of the petition, the impact on the covered area if the Administrator did not approve the petition.
    For information about the HUBZone program, visit www.sba.gov/hubzone.
    For more information on Opportunity Zones and Opportunity Funds, see https://www.irs.gov/newsroom/opportunity-zones-frequently-asked-questions.

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