Liuos Thinking, Inc. has received the Small Business Administration HUBZone designation.
SCHENECTADY, NY, USA, October 9, 2023 /EINPresswire.com/ — CEO Kaarlo Hietala of Liuos Thinking recently revealed that the business received Small Business Administration HUBZone designation. Liuos Thinking is a Schenectady, New York-based logistical service provider. Historically Underutilized Business Zones, or HUBZones for short, are intended to support the expansion of small businesses and the creation of jobs.
The government limits competition for certain contracts to businesses in historically underutilized business zones (HUBZone). Additionally, it offers preferential consideration to those companies that are engaged in full and open competition.
“More federal contracting opportunities for Liuos Thinking come with the SBA HUBZone certification. Our competitiveness is greatly increased by adding this additional distinction to our present set of qualifications. Expanded growth equates to more hires for Liuos Thinking.” Hietala stated.
With a HUBZone Certification Liuos Thinking may now win sole-source contracts worth up to $4.5 million.
The program’s objective of the federal government giving HUBZone companies 3% of purchases is another intriguing feature. A Congregational Research Service report dated July 26, 2023, states that the government as a whole has not yet met the 3% target.
Participants in the HUBZone program need to be SBA certified. One of the prerequisites is being a small firm with at least 51 percent U.S. citizen ownership. Furthermore, at least 35% of the workforce must reside in a HUBZone, and the company’s main office must be situated in one. Every year, firms must recertify.
“Our company core values and the many talented people who live and work with Liuos Thinking are something we’ve always been proud of. We are committed to making the most of this new opportunity to enhance employment in the areas where we are involved.” Hietala stated.
Article originally published on www.einpresswire.com as Liuos Thinking, Inc. has received the Small Business Administration HUBZone designation.