by: Paul Hawkins and Jake Noe On December 17, 2024, the SBA published a final rule that will likely have a major impact on HUBZone businesses. This final rule implemented four (4) major categories of changes that HUBZone business will have to need to comply with. Specifically, these four (4) changes related to the following topics: (1) definition of principal office; (2) definition of employee; (3) definition of reside in a HUBZone; (4) HUBZone program eligibility and certification and recertification rules. The specific changes are briefly identified below. I. Changes to the Definition of “Principal Office”
II. Changes to the Definition of an “Employee”
III. Changes to the Definition of Reside
IV. Changes to HUBZone Program Eligibility/Certification and Recertification
Please contact Reaves GovCon Government Contracts Attorneys Paul Hawkins or Jake Noe if you have any questions, or if you would like assistance assuring that your HUBZone business is fully compliant with the new regulations.
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