Moran Iron Works Receives Award
They receive HUBZone certification from the Small Business Adminstration.
Posted: January 12, 2019
Moran Iron Works, Inc. (MIW; Onaway, MI) announced that they have been awarded the Historically Underutilized Business Zone (HUBZone) certification by the U.S. Small Business Administration (SBA). This 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,” noted Tom Moran, the chief executive officer and founder of the company.
To achieve HUBZone Certification they had to meet a range of criteria that included things such as their principal office being located in a federally-mapped HUBZone area and 35 percent or more of their 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 three percent of all federal prime contracts to HUBZone-certified small business concerns. In 2017 alone, this three percent amounted to over 80,000 contracts and a dollar amount topping $7.5 billion.
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