The New Jersey Economic Development Authority (NJEDA), Kean University, and the Initiative for a Competitive Inner City (ICIC) have launched the first Building for Growth (BFG) program cohort in New Jersey. This tuition-free initiative aims to equip minority-owned construction companies with essential skills and mentorship to help them expand their businesses, secure larger contracts, and achieve sustainable growth.
The 18-week hybrid program began on January 15 at Kean University. Participants will receive training in finance, strategic planning, construction law, and bonding, along with one-on-one mentorship and technical assistance.
First Lady Tammy Murphy expressed her support: “I was thrilled to join NJEDA and ICIC at Kean University this week for the Building for Growth Kick-Off Luncheon. This important partnership will support women-, minority-, and veteran-owned businesses by providing mentoring opportunities and the skills needed to succeed in New Jersey’s construction industry.”
NJEDA Chief Executive Officer Tim Sullivan highlighted the state's commitment under Governor Phil Murphy's leadership: “Under Governor Phil Murphy and First Lady Tammy Murphy’s leadership, New Jersey is expanding funding opportunities, resources, and training for diverse business owners.”
Developed by ICIC, a national nonprofit organization focused on economic growth in under-resourced communities, the BFG program has shown impressive results. Alumni report an 88 percent increase in revenue and a 112 percent increase in their largest project size. The program has supported 219 businesses so far, with significant representation from BIPOC-owned (82%), women-owned (62%), and veteran-owned (11%) enterprises.
Steve Grossman, CEO of ICIC, expressed gratitude towards state leaders: “ICIC extends its deepest gratitude to Governor Phil Murphy and Tammy Murphy for their visionary leadership.”
Kean University President Lamont O. Repollet emphasized the university's commitment: “Building for Growth embodies Kean’s commitment to creating opportunity... When we empower minority-owned construction businesses with the resources to succeed, they strengthen both the physical and economic foundations of our communities.”
Applications for the program remain open. Interested companies can find more information through NJEDA's resources.
