What is a “HUB”?
North Carolina law defines a HUB, or, “historically underutilized business” as a business that is at least 51 percent owned (or, in the case of a corporation, at least 51 percent of the stock is owned) and day-to-day management and daily business operations are controlled by one or more citizens or lawful permanent residents who are members of a minority or socially and economically disadvantaged group. A ‘minority person’ is a member of one or more of the following demographic groups:
- ❖ Black - a person having origins in any of the black racial groups of Africa;
- ❖ Hispanic - a person of Spanish or Portuguese culture having origins in Mexico, South or Central America, or the Caribbean Islands, regardless of race;
- ❖ Asian American - a person having origins in any of the original peoples of the Far East, Southeast Asia, Asia, Indian Continent, or Pacific Islands;
- ❖ American Indian - a person having origins in any of the original Indian peoples of North America;
- ❖ Female
- ❖ Disabled - a person with a disability as defined in G.S. 168-1 or G.S. 168A-3 (A “socially and economically disadvantaged person” is someone who qualifies as such under federal law).