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The state of Texas has recently launched a new program called HUB Certified. This certification is designed to help small businesses owned by historically underutilized businesses (HUBS) gain access to more opportunities and resources. The goal of the program is to increase economic development in the state, create jobs, and promote minority-owned business growth.
To become certified as a HUB in Texas, a business must meet certain criteria including being 51% or more owned by individuals who are members of one or more designated groups such as African Americans, Hispanic Americans, Native American Indians/Alaskan Natives/Native Hawaiians/Pacific Islanders). In addition to meeting these ownership requirements for certification applicants must also demonstrate that they have been operational for at least one year with evidence showing their commitment towards long-term success within the community they serve.
Once certified through this program companies can take advantage of various benefits such as increased visibility on government bid lists which will give them access to contracts that may not be available otherwise due to lack of experience or contacts within large corporations. Additionally having this designation could potentially open doors into larger markets outside their region which would lead to further growth potentials for any given company if successful enough with capitalizing on these opportunities provided through the HUB Certification Program offered by the State Of Texas Department Of Commerce & Economic Development Agency (TDECD).