The New Jersey Economic Development Authority (NJEDA) has provided financial support to the Statewide Hispanic Chamber of Commerce of New Jersey’s (SHCCNJ) Innovation Business Hub, located at New Jersey City University (NJCU). The funding will help develop and operate the hub, which is designed as a gathering place for local business owners and leaders. The facility will host workshops, seminars, and networking events aimed at fostering innovation and economic growth.
Governor Phil Murphy commented on the partnership, stating, “This partnership is an extension of our administration’s commitment to expanding our innovation economy and creating an ecosystem where all businesses can thrive. The SHCCNJ Innovation Business Hub will provide resources to emerging businesses across our state, strengthening New Jersey’s long-term economic competitiveness.”
Tim Sullivan, Chief Executive Officer of NJEDA, added, “Under Governor Phil Murphy’s leadership, New Jersey continues to invest in initiatives and resources that support the state’s entrepreneurs, encourage startup creation, and strengthen the state’s small business ecosystem. The NJEDA is proud to collaborate with the SHCCNJ and NJCU on its Innovation Business Hub, which will create networking opportunities and expand access to resources for the next generation of business owners.”
Carlos Medina, President of SHCCNJ, highlighted the economic contribution of Latino-owned businesses: “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. 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 $75,000 in funding from NJEDA, SHCCNJ converted a classroom at NJCU into office space for the hub. The facility now offers technical education programs where small businesses can access courses and materials. Personalized mentoring and coaching are also available through one-on-one sessions with industry experts. In addition to serving local entrepreneurs, the hub provides space for foreign guests and diaspora businesses.
The Innovation Business Hub connects business owners with NJEDA’s Small Business Bonding Readiness Assistance Program. This program offers classes and counseling on topics such as bonding and insurance, financial presentation, construction law and management. Participants receive a report assessing their strengths and weaknesses after completing the program.
Luis O. De La Hoz, Chairman of SHCCNJ said: “This investment from NJEDA represents more than just funding—it’s a commitment to our community’s future. The SHCCNJ Innovation Business Hub will serve as a launchpad for entrepreneurs to scale their businesses, access critical resources, and foster meaningful connections. We’re proud to partner with NJEDA and NJCU to turn vision into opportunity and drive sustainable economic impact across New Jersey.”
The announcement was made during a press conference at NJCU School of Business in Jersey City.
In October 2024, SHCCNJ signed an agreement with NJCU to expand its Hispanic Business Hub onto campus while creating educational opportunities for students through collaboration on workforce development initiatives.
NJCU President Andres Acebo noted: “What makes this partnership so meaningful is our shared belief that in New Jersey you don’t have to uproot yourself to tap into your potential—you can prosper in place. We’re anchored right here in Hudson County where nearly half of our population is foreign-born... This initiative allows us to institutionalize organic connections... providing our students with direct internship... experience... creates something truly powerful — students who are not just learning but actively contributing to... their own neighborhoods.”
Founded in 1989, SHCCNJ now represents over 120,000 Hispanic-owned businesses statewide.
