SBA presents award to Kit Bond

Sen. Christopher S. "Kit" Bond was presented the U.S. Small Business Administration's Administrator Award for Leadership Sept. 21 for his work in authoring legislation to establish the HUBZone (Historically Underutilized Business Zone) program, which is helping re-new distressed, inner-city neighborhoods and rural communities.

"I'm very honored to receive this award. It's been very exciting and challenging to get the HUBZone program off to a great start," Bond said in a Senate press release.

"The HUBZone program will direct $6 billion in federal contracting dollars to small businesses located in distressed urban and rural communities.

"That's real money, delivered through the marketplace, to provide jobs in these areas. The HUBZone program offers real hope to hard-hit neighborhoods, including minority-community neighborhoods that have been neglected far too long," Bond added.

SBA Administrator Aida Alvarez gave the award to Bond, chairman of the Senate Committee on Small Business, in recognition of his "long-term sup-port, tireless efforts and unwavering com-mitment on behalf of the nation's minority small business com-munity."

"Each year, I have the honor of selecting one person who has demonstrated a clear commitment to the nation's growing minority business population, and this year that person is Sen. Christopher "Kit" Bond of Missouri," Alvarez said in an SBA press release.

Bond said he will continue to challenge the Clinton administration and every legislator to take immediate action to let small businesses know about the program, get it in the public eye and help it succeed.

"For too long, we have talked about the need to rebuild, revitalize and bring hope to long-neglected neighborhoods across the country," he said.

HUBZones are areas defined by U.S. Census data as the most disadvantaged inner-city neighborhoods and rural areas, based upon household income.

Small bus-inesses located in HUBZone areas and certified by the program get competitive advantages in obtaining gov-ernment contracts, if they are willing to hire 35 percent of their employees from within HUBZones.

By directing government purchases to HUBZone participants, the program ensures that money remains in the local area, helping jump-start the economy, create jobs and, in turn, provide income for families.

"The HUBZone Program recognizes that small business is the major source of new jobs in America, and a key part of the solution in restoring life to our distressed urban neighborhoods," Bond said.

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