Insular Areas Small Business Development Act

H.R. 1148, the Insular Areas Small Business Development Act, proposes to designate Guam, the U.S. Virgin Islands, American Samoa, and the Northern Mariana Islands as "historically underutilized business zones," or HUBZones. This designation would allow small businesses located in these territories to access specialized federal contracting preferences and technical assistance programs. By making these businesses more competitive for government contracts, the bill aims to stimulate economic growth and job creation within these specific island communities.