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| MindPower International achieves nationally recognized HUB Zone Certification |
| 06/02/2003 |
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BIRMINGHAM, AL -- (BUSINESS WIRE) - June 2, 2003 - MindPower International, an Oracle integration and consulting services firm, announced today that it had received HUB Zone certification by the US Government. "When a small business applies for and receives the designation, it gives that business a variety of economic advantages in applying for federal contracts that include exclusive set asides, the ability to enter into non-competitive contracts and preference over other bidders," said Sean Harte, President and Chief Operations Officer. "Encouraging small businesses to utilize the HUB Zone program represents a tremendous opportunity to breathe needed economic life into low-income areas and fosters the growth of small federal contractors as viable businesses that help empower communities, create jobs, and attract private investment."
In order for a company to qualify for a HUB Zone designation, 35% or more of its employees must live in a designated Historically Underutilized Business Zone "HUB Zone" area. The program falls under the auspices of the US Small Business Administration (SBA). The SBA regulates and implements the program and determines which businesses are eligible to receive HUB Zone contracts, maintains a listing of qualified HUB Zone small businesses that Federal agencies can use to locate venders, and arbitrates protests of eligibility to receive HUB contracts. In 2000, $646 million worth of federal contracts were awarded to the 2,700 HUB Zone businesses in America. By 2003, 3% of all federal contracts will be set aside for HUB Zone businesses. Nationally, HUB Zones are located in more than 7,000 urban census tracts, 900 rural counties, and on every federally recognized Native American reservation.
MindPower International maintains it's Corporate Office in Demopolis, Alabama. "Our commitment to the Black Belt region, the most neglected region of the country, is to provide jobs and support MindPower's corporate infrastructure as well as develop new software in-house" said David Sellers, Chief Executive Office. "The Black Belt is a band of largely agricultural counties stretching across the south-central part of the state where economic stagnation is dominant". Alabama has been successful in adding new car manufacturing plants, however, the state's median income has dropped with its universities struggling to keep top researchers and textile/apparel companies. "MindPower International can be instrumental in bringing new Information Technology jobs and support the initiatives of the state government".
HUB Zone firms are eligible for a wide variety of contracting opportunities.
 A competitive HUB Zone contract can be awarded if the contracting officer has a reasonable expectation that at least two qualified HUB Zone small businesses will submit offers and that the contract can be awarded at a fair market price.
A sole-source HUB Zone contract can be awarded if the contracting officer deems that
One qualified HUB Zone small business is responsible to perform the contract,
Two or more qualified HUB Zone small businesses will submit offers, and
The anticipated contract price, including options, cannot exceed $5 million for manufacturing requirements or $3 million for all other requirements.
A full and open competition contract can be awarded with a price evaluation preference. The offer of the HUB Zone small business must not be more than 10 percent higher than the offer of non-HUB Zone small business or non-small business.
All subcontracting plans for large business federal contractors must include a HUB Zone subcontracting goal.
Other Benefits
Eligible HUB Zone firms can qualify for higher SBA-guaranteed surety bonds on construction and service contract bids.
Firms in Empowerment Zones and Enterprise Communities can also benefit from employer tax credits, tax-free facility bonds, and investment tax deductions.
About MindPower International
MindPower International, a HUBZone certified veteran owned company and a leading Oracle applications and services consultancy, helps global clients achieve measurable business results through the rapid application and support of advanced Oracle technology. Founded in 2000, MindPower International has offices in Atlanta, Dallas, Demopolis (AL) and Washington DC. More information about MindPower International can be found at www.mpi-corp.com. |
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Point of Contact:
David Sellers
MindPower International
Phone: (800) 258-5304
Fax: (469) 574-7807
E-mail: dsellers@mpi-corp.com |
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