The State of Michigan has secured continued Small Business Administration(SBA) support for 28 counties and census tracts across Michigan through the SBA’s HUBZone program following petitions to the agency.
Learn more in the news release below.
July 26, 2024
Today, Gov. Gretchen Whitmer announced Michigan secured continued Small Business Administration (SBA) support for 28 counties and census tracts across Michigan through the SBA’s HUBZone program following petitions to the agency. The HUBZone program fuels small business growth in historically underutilized zones by awarding 3% of federal contract dollars to HUBZone businesses every year.
Companies located in Michigan HUBZones and certified under the HUBZone program also qualify as Geographically Disadvantaged Business Enterprises (GDBEs) for state procurement. In FY21, 59 Michigan HUBZone businesses were awarded $219,272,900 in contracts.
The 28 areas in the petition are home to over 350 small manufacturing sites that have demonstrated their potential for creating jobs and leveraging private investment. Over the last five years, the Michigan Economic Development Corporation business development and capital services programs have helped companies in these areas announce projects expected to create over 1,800 new jobs and more than $3.5 billion in planned private investment. These planned projects are in industries as diverse as automotive and automotive parts manufacturing, machinery manufacturing, and various service industries.
The designations will be added to the HUBZone map within the next week, which is available here.
Find out more about the SBA’s HUBZone small business support program here.
Supporting Small Businesses
In 2023, Michigan was ranked as a top ten state for business, climbing in national economic competitiveness, strong job growth, advanced manufacturing leadership, and the low cost of doing business & living.
Last year, Gov. Whitmer signed a bipartisan supplemental budget to invest $75 million to support small business smart zones, business accelerators, and entrepreneurial activities and announced the new Small Business Support Hubs program to bring comprehensive resources to small businesses across the state.