The Historically Underutilized Business Zones (HUBZone) program helps small businesses in urban and rural communities gain access to federal procurement opportunities. To qualify for a HUBZone, a company must maintain a “principal office” in one of these specially designated zones.
Pontiac is an SBA HUBZone, and your business may qualify for HUBZone certification if your business home is within our city. This can help get federal contracts and bid opportunities to grow your business.
To qualify for a HUBZone, a business must meet the following:
The city of Pontiac is classified as a Qualified Opportunity Zone.
An Opportunity Zone is a tool for economic development that offers tax benefits to investors. This helps to nudge economic growth and job creation. Taxpayers can invest in these zones through Qualified Opportunity Funds.
Opportunity Zones offer tax benefits to business or individual investors who can elect to temporarily defer tax on capital gains if they timely invest those gain amounts in a Qualified Opportunity Fund (QOF). Investors can defer tax on the invested gain amounts until the date they sell or exchange the QOF investment, or Dec. 31, 2026, whichever is earlier.
The length of time the taxpayer holds the QOF investment determines the tax benefits they receive.
