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STILWELL, OK - A new certification will mean more business opportunities for Cherokee Nation Industries.

The Small Business Administration (SBA) recently certified Cherokee Nation Industries (CNI), as a HUBZone company, which will allow CNI to compete more effectively for more of the $200 billion worth of goods and services annually contracted by the federal government.

A HUBZone is a historically underutilized business zone. It is a community-based economic development program to stimulate job creation and capital investment.

"Becoming a SBA certified HUBZone company compliments our focus of identifying new business opportunities for Cherokee Nation Industries", said David Stewart, interim chief executive officer of CNI.

In fiscal 2001, the federal government has a 2 percent goal of channeling federal contracts through the HUBZone program, which equates to about $4 billion. For federal government’s goals is set to increase by 0.5 percent for the next two years to 3 percent in FY2003 and thereafter (an estimated $6 billion annually).

"HUBZone certification allows us to compete for a portion of these multi-billion dollar federal contracts previously unattainable", Stewart said. "The bottom-line is CNI, the Cherokee Nation and Oklahoma will all benefit from the jobs that will be created because we received HUBZone certification."

Cherokee Nation Industries will continue to receive contracting opportunities as a SBA certified 8(a) participant in addition to HUBZone contracting opportunities.

Nationally, HUBZones are located in more than 7,000 urban census tracts, in 900 rural counties and on more than 340 federally recognized Native American reservations.

Enacted as part of the Small Business Reauthorization Act of 1997, the HUBZone Empowerment Contracting Program is a "place-based" federal contracting program serving communities with low income or high unemployment. The program provides both federal prime contract and subcontract benefit.

Cherokee Nation Industries, Inc., a tribally owned corporation of the Cherokee Nation headquartered in Stilwell, Oklahoma, was incorporated in 1969 to serve as the economic and workforce development arm for the tribe. Cherokee Nation Industries has more than 30 years contracting and distribution experience in the aerospace, defense and telecommunications industry.