Federal program tries to bring small business to town

Federal program tries to bring small business to town

MYRTLE BEACH, SC (WMBF) A lesser known government program is rewarding small businesses for coming to and staying in areas like Myrtle Beach.

In a city known for hotels and restaurants on every corner, you may not think of Myrtle Beach when it comes to start ups or small business.

Tucked away in a small part of the city, you'll find Edward Tkacz and his engineering company.

"We actually relocated our company from Maryland to here, He explained.
Tkacz's company is one of only four in Myrtle Beach, benefiting from a little known federal program called HUBZone.
To put it simply, the program rewards small businesses that work on government contracts, for working and living in areas deemed economically depressed. 
Since the latest census, a part of Myrtle Beach between Harrelson Boulevard and 21st Avenue North falls in that category.

"The big picture is to get these areas to a point where they are economically capable, said Tkacz.

The program does come with a catch though. The business must be based out of a HUBZone area, and more than 35% of its employees must live there too.
If the criteria is met, the business gets access to exclusive deals, and even gets a price cut of 10%.

"If you're looking at a ten million dollar contract, that's a million dollar difference, explained Tkacz. That's a big difference."

Tkacz says the biggest difference that will be seen is in the community though. He says more companies means more jobs, which means more opportunities for locals.           

Myrtle Beach isnt the only HUBZone locally. The program has a map, with HUBZones all around the country.

You can more information about the HUBZone program at its website.

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