Moran Iron Works awarded HUBZone Small Business Certification
Moran Iron Works, Inc. (MIW), an Onaway, Michigan company, announced January 9 that it has been awarded the Historically Underutilized Business Zone (HUBZone) certification by the U.S. Small Business Administration (SBA). The program, passed into law as part of the Small Business Reauthorization Act of 1997, was established to provide qualified small businesses in historically underutilized business zones with assistance when pursuing federal contracts. This provides MIW with increased opportunity when pursuing specified federal contracts.
“This designation better positions us to provide valuable metal solutions on a federal level, expand our business and increase our commitment of promoting local economic employment growth,” said Tom Moran, CEO & Founder of MIW.
To achieve HUBZone Certification, MIW had to meet a range of criteria that included things such as its principal office being located in a federally mapped HUBZone area and 35 percent or more of its employees residing within HUBZone regions. Additionally, MIW had to submit a comprehensive application process that confirmed these and other stringent requirements as set forth by the program.
As a part of this and other SBA contracting programs, federal agencies have an annual goal of awarding 3 percent of all federal prime contracts to HUBZone-certified small business concerns.