2025 HUB Business Economic Impact Study

$2.6 Billion in
economic impact

generated by historically underutilized businesses is fueling North Carolina’s growth — and this is only the beginning.

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Explore key data, findings, and policy insights from North Carolina’s first statewide HUB Economic Impact Study. Learn how investing in HUB firms is transforming North Carolina’s economy and communities.

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Prosperity By Design exists to drive a vision of economic growth where opportunity, equity, and prosperity are shared across North Carolina. We believe that when Historically Underutilized Businesses (HUBs)—including minority, women, and disadvantaged-owned firms—are empowered, the entire state benefits from stronger communities, greater innovation, and accelerated economic growth. Historically Underutilized Businesses are powerful engines of economic activity and local reinvestment. To capture the full scope of their impact, we commissioned the first-ever statewide HUB Economic Impact Study. This groundbreaking research reveals how HUB firms contribute to job creation, tax revenue, and long-term prosperity across North Carolina.

"These results show that North Carolina’s HUB programs are not only equitable but economically smart.” — Denisha Harris, President, NC MWBE Coordinators Network

Historically Underutilized Businesses are powerful engines of economic activity and local reinvestment. To capture the full scope of their impact, we commissioned the first-ever statewide HUB Economic Impact Study. This groundbreaking research reveals how HUB firms contribute to job creation, tax revenue, and long-term prosperity across North Carolina.

New Findings, Real Impact

The 2025 HUB Economic Impact Study reveals:
  • $2.6 Billion in total economic impact from HUB contracts
  • 54,000+ jobs supported across the state
  • $51.5 Million in state tax revenue generated
  • For every $1 invested, the state saw $2,694 in economic activity and $60.50 in new tax revenue

This isn’t just an Impact Report—it’s a roadmap for inclusive economic development that helps the entire state of North Carolina for generations to come. 

Why It Matters

HUB firms are small but powerful contributors to North Carolina’s economy. While most of these firms employ fewer than five people, they continuously drive job creation, innovation, and economic stability in communities that have historically been overlooked. However, in spite of these positive gains, State procurement patterns still favor majority-owned businesses at disproportionate rates. Prosperity By Design advocates for smarter, data-informed policies that ensure fair access to opportunity for all. Our mission is to partner with key stakeholders to have a better understanding of how to effectively address the needs of these disproportionate groups. 
hub impact across the state of nc
2025 HUB Business Economic Impact Study

What's Next?

We’re sharing the results of this groundbreaking study with stakeholders, policymakers, business leaders, and communities across the state.

This includes:

  • Public presentations and briefings
  • Community conversations
  • Policy recommendations to strengthen HUB inclusion
  • Digital tools and resources for understanding the impact

We hope that you will join us in advancing a vision for an economy designed with equity and prosperity in mind. For Press inquiries or information sessions, please contact us at hello@prosperitybydesignnc.org

2025 HUB Report Download

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Beyond Participation

Prosperity in Action :
The Impact of HUB Businesses

Explore Features

Measurable Impact

The numbers tell the story: HUB participation generates billions in economic output, proving that equity and growth go hand in hand.

Job Creation

HUB firms don’t just compete—they employ. Their growth directly translates into new jobs, stronger communities, and expanded career pathways statewide.

Innovation Pipeline

Diverse perspectives drive better solutions. HUB suppliers bring fresh ideas, new efficiencies, and creative problem-solving to industries across North Carolina.

Local Investment

Every HUB dollar earned circulates back into local neighborhoods—supporting schools, small businesses, and community infrastructure.

Shared Prosperity

Economic inclusion isn’t charity—it’s strategy. Expanding access to procurement opportunities lifts entire regions and ensures long-term statewide prosperity.

Inclusive Growth

When HUB businesses thrive, local economies flourish. Each contract awarded to a diverse supplier multiplies opportunity and strengthens North Carolina’s economic foundation.
FAQs

Questions? We're glad you asked.

To understand why inclusion matters and how HUB businesses strengthen our economy, start here.

A HUB, or Historically Underutilized Business, is a minority-, women-, or disadvantaged-owned firm recognized by the state for its contributions to economic inclusion. These businesses play a critical role in creating jobs, driving innovation, and ensuring that North Carolina’s economy reflects its full diversity.

 

Inclusive procurement isn’t just about fairness—it’s about growth. When HUB businesses have access to opportunities, more dollars stay local, more people find work, and the entire state benefits from broader economic participation.

Prosperity by Design tells the story behind the numbers. We highlight the measurable impact of HUB businesses, promote data-driven inclusion strategies, and bring together stakeholders who believe North Carolina’s prosperity should be shared by all.