The New Jersey Economic Development Authority (NJEDA) announced this week that it has provided $75,000 for the development and operation of the Statewide Hispanic Chamber of Commerce of New Jersey’s Innovation Business Hub.
The hub, located at New Jersey City University, offers a physical location for local business owners and leaders to gather and attend workshops, seminars, and networking events aimed to strengthen connectivity, provide educational resources and tools, foster innovation, and spur economic growth. The announcement was made at the NJCU School of Business in Jersey City.
“Latino-owned businesses contribute more than $100 billion to New Jersey’s economy—a number that speaks volumes not just here at home, but across the river in the broader regional market,” said Statewide Hispanic Chamber of Commerce of New Jersey President Carlos Medina. “This Innovation Hub is about impact. It’s about turning that economic power into lasting opportunity. At the chamber, our culture of advocacy grows stronger every day as la familia levels up small business for big impact.”
With the NJEDA’s funding, the Hispanic chamber was able to convert a classroom at New Jersey City University to serve as office space for the Innovation Business Hub. The hub will offer technical education programs, providing small businesses with access to an educational platform where they can take courses, review materials, and access resources. The Hispanic chamber will also provide personalized mentoring and coaching for business owners, facilitating one-on-one sessions with industry experts. The Innovation Business Hub will offer space to host foreign guests, diaspora businesses, and entrepreneurial exchanges, making the Hub a center for knowledge-sharing and innovation.
Through the Innovation Business Hub, the Hispanic chamber will connect business owners with the NJEDA’s Small Business Bonding Readiness Assistance Program, which provides classes, workshops, and strategic counseling sessions covering topics relevant to small businesses in all sectors, including bonding and insurance, business development, financial presentation, construction and contract law, construction management, estimating, and credit. At the end of the program, all participating businesses receive a bonding readiness segment report, which provides an assessment of their strengths and weaknesses to help them plan for the future.
“This investment from NJEDA represents more than just funding—it’s a commitment to our community’s future,” said Statewide Hispanic Chamber of Commerce of New Jersey Chairman Luis O. De La Hoz.
The Statewide Hispanic Chamber of Commerce of New Jersey was established in 1989 to foster, mentor, and train Hispanic-owned businesses in New Jersey and represents more than 120,000 businesses.
