The New Jersey Economic Development Authority (NJEDA), in collaboration with Kean University and the Initiative for a Competitive Inner City (ICIC), has announced the introduction of the Building for Growth (BFG) program to New Jersey. This initiative aims to provide construction companies with educational resources and tools to enhance their capacity and develop sustainable growth strategies. The program is tuition-free and targets businesses owned by women, minorities, and veterans.
Governor Phil Murphy expressed his support for the initiative, stating, “This partnership between the NJEDA, Kean University, and the Initiative for a Competitive Inner City underscores New Jersey’s commitment to giving our diverse small businesses the opportunity to grow. I’m proud to make this investment in uplifting our underrepresented communities and ensuring that New Jersey’s women- and minority-owned businesses have the resources they need to succeed.”
The BFG program offers an 18-week hybrid curriculum that includes classroom training, technical assistance, and mentorship. Participants will learn about finance fundamentals, contract competition, construction law, contract negotiation, certifications navigation, and long-term business planning. The program will also feature four in-person sessions at Kean University.
Tim Sullivan, Chief Executive Officer of NJEDA, highlighted the importance of this initiative: “Under Governor Murphy’s leadership, New Jersey continues to implement unique programs to ensure minority- and women-owned small businesses have the resources, support, and access to capital needed to grow and thrive. The NJEDA is proud to partner with Kean University and ICIC on this initiative.”
Kean University's president Lamont O. Repollet stated: “As New Jersey’s urban research university, Kean is committed to creating pathways for economic opportunity and growth in our communities. Our collaboration with NJEDA and ICIC on the Building for Growth program will equip diverse construction businesses with the knowledge and resources they need to thrive.”
Steve Grossman, CEO of ICIC remarked on the expansion of BFG: “Expanding the Building for Growth program to New Jersey marks a significant step in empowering diverse contractors to overcome barriers and achieve lasting success.”
Applications for this tuition-free program are currently open.
