Opening Doors in Hudson County 2021 Report

HCEDC

Hudson County Economic Development Corporation

OPENING DOORS IN HUDSON COUNTY 2021 Partnerships REPORT

HCEDC

Hudson County Economic Development Corporation

Hudson County Economic Development Corporation

01 Message from the Executive Director 02 Message from the Board President

OPENING DOORS FOR

04 Hudson Kitchen 06 Monique’s Techniques 07 Partners in Prevention 08 GSECDC/NJCC 10 Genuardi Master Tailor 11 Cavany Foods

12 Board, Staff, and Partners

www.hudsonedc.org

MICHELLE E. RICHARDSON

Message from the Executive Director

E

very day since our founding in 1994, and relaunch in 2016, the Hudson County Economic Development Corporation team and board of directors have worked alongside County

administration and municipal partners to open doors for our vibrant and diverse community of residents, businesses and organizations. Our collaborative approach to addressing some of our County’s greatest challenges and opportunities through innovative programming, professional training and timely access to capital has helped our communities and local economy remain resilient and thriving.

Through HCEDC’s powerful partnerships, our ongoing commitment to serving and supporting underserved communities continues to shape Hudson County in meaningful and lasting ways.

To date, we’re proud to have provided financial assistance to 20 first-time home buyers, facilitated 61 loans totaling over $3M and created/retained over 700 jobs. Hudson County, one of New Jersey’s fastest-growing, most densely populated and diverse regions, offers a wealth of assets.

Our strategic location, a highly educated workforce and rich cultural heritage provide an outstanding quality of life for residents and businesses. As Hudson County

We remain steadfast in our commitment to fostering the vitality of our businesses and organizations.

evolves, HCEDC and partners continue to anticipate need and implement proactive strategies to support business attraction and retention.

As always, we remain steadfast in our commitment to supporting the vitality of our diverse community of businesses and organizations and look forward to the bright future of Hudson County for all.

Michelle E. Richardson Executive Director

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HCEDC : Annual Report 2021

KEVIN O’CONNOR

Message from the Board President

L

ocal businesses and the communities they help build are the heartbeat of the fastest growing, most

densely populated, and most diverse county in New Jersey. Each of Hudson County’s 12 municipalities has a unique heritage and economy. I am proud of the fact that the HCEDC serves and supports them each day through these unprecedented times and into the future. Our mission to open doors of opportunity through access to capital, education, information and housing are not merely services we provide, they are deeply reflective of our commitment to the quality of life for every resident and business owner here.

As President of the Board and Director, External Affairs of SUEZ Water, New Jersey, my colleagues and I are honored to present this report on behalf of the HCEDC team. It is the result of our collaborative work with local municipalities, administration, nonprofit organizations, state government and partners to empower our county. Together we stand as committed citizens and corporations to provide guidance and ongoing investment within our great county today and always.

Through the pages of Opening Doors, I hope you’ll enjoy meeting some members of our community that define Hudson County’s unique experience and learn more about how we are helping to empower businesses and organizations of all sizes.

Thank you to everyone who helped make this happen by being part of this project and thank you for reading.

Regards, Kevin O’Connor President, HCEDC Board of Trustees

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Our Impact

HCEDC Hudson County, accross the Hudson River from Manhattan, is a

Education and Information

Housing

growing and thriving economic hub of the Tri-State area.

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20

Programs

First-time Homebuyers

19,310

$290,000

People Reached

Downpayment Grants

Business Loans 61 Number of Loans

$3,143,500 Approved

703 Jobs Created/ Retained

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HCEDC : Annual Report 2021

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HCEDC

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1

OPENING DOORS FOR

Hudson County Economic Development Corporation

Hudson Kitchen

jenaba Johnson-Jones had a dream to build

needed to succeed. Having them at my side through

Hudson Kitchen, an innovative food business

all these phases was amazing and took so much

incubator, and HCEDC helped make it happen. Today,

of the stress out of my journey as an entrepreneur.

the 8,000 square feet mixed-use space at Kearny

When it came to funding, I knew they were advocating

Point brings production, storage, and co-working

for my interests to find the best match for the loan

spaces together for brands ready to start, grow,

required to launch my vision while I was focusing on

and scale their businesses. Members of Hudson

making it happen.”

Kitchen have 24/7 access to a growing list of bespoke

Johnson-Jones now understands what it takes

amenities in a fully licensed and FDA-registered

to realize goals and succeed. “One of the things I’ve

commercial kitchen to think big, dream big, and do

learned through my entrepreneur journey is that

big things.

you need to utilize your fear. Allow it to propel you

“The HCEDC understood my goal of providing

forward. Make the phone call. Ask the question.

resources to the growing community of culinary

Take the leap. Use your fear to push you outside of

entrepreneurs here in Hudson County. I took

your comfort zone and into an area of growth and

advantage of all the webinars and was able to access

success.”

valuable information and received the education I

”The HCEDC understood my goal of providing resources to the growing community of culinary entrepreneurs here in Hudson County.”

— DJENABA JOHNSON-JONES

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HCEDC : Annual Report 2021

2 HCEDC

Hudson County Economic Development Corporation

OPENING DOORS FOR

Monique’s Techniques

M

onique Smith-Andrews is a uniquely Hudson County entrepreneur, owner of Monique’s

“I would not have been able to realize success if it wasn’t for the education, assistance, and support I received from the HCEDC team.”

—MONIQUE SMITH-ANDREWS

For Monique the partnership with HCEDC and UCEDC was invaluable. “I would not have been able

Techniques Beauty Salon, and founder of the

to realize success if it wasn’t for the education,

non-profit, Mo’Hair Foundation both located in

assistance and support I received from their team. I

Jersey City. In addition to operating the salon, her

have officially owned and operated this business for

organization provides individuals who suffer from

33 years having started it at the age of 23 in 1988.

cancer, alopecia, lupus and other health conditions

Through the years I’ve employed over 30 people, and

or tragedies with hair loss solutions. “Giving back

many have gone on to open their own businesses as

is what Hudson County is all about, I am so grateful

a result of my mentorship and tutelage. Today, I am

to be a part of this incredible community and help

able to serve our community and enrich the quality of

empower women, men and children “to look good

life in Hudson County thanks to HCEDC’s belief in me

and feel better” through their crisis.”

and my vision.”

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3

OPENING DOORS FOR

Partners in Prevention

E

very day, the team at Partners in Prevention

able to keep our staff intact and continue providing

works to improve wellness, helps prevent

prevention services to Hudson County residents

substance abuse and addresses a range of health

during an incredibly challenging time.” shared Doug

concerns throughout Hudson County and the State.

Bratton, Executive Director.

Together, the organization’s integrated approach

The power of the partnership with HCEDC

focuses on education, coalition-building, and youth

and NJCC continues to drive positive outcomes,

engagement to build stronger communities.

improving the quality of life for all. “Try as we might,

Partners in Prevention’s focus on public health

there are always challenges that arise to remind

and the continuity of services it provides were vital

us we cannot do everything ourselves,” said Yaisa

to the community, yet challenging to deliver through

Coronado, Associate Executive Director. “We all need

the COVID-19 pandemic. The HCEDC in partnership

partnerships to support us through difficult times

with the NJCC Garden State Relief Fund helped the

and cheer us on when things are going well. We

agency sustain operations by providing funding.

can achieve so much more when we work together

“The funding was critical to us as a non-profit by

towards a common goal. Partnerships are central to

providing a bridge to federal PPP forgivable loans

our mission and the work we do - so much so that

and stabilized federal, state, and county grants, as

the root of the word is in our name!”

well as donor contributions. As a result, we were

“The funding was critical to us as a non-profit by providing a bridge to federal PPP forgivable loans and stabilized grants. ” —DOUG BRATTON, EXECUTIVE DIRECTOR

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HCEDC : Annual Report 2021

HCEDC

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Hudson Hudson County County Economic Economic Development Development Corporation Corporation

4 OPENING DOORS WITH

Garden State Episcopal Community Development Corporation and New Jersey Community Capital

H

omeownership is the first step to building wealth

that they can advance to homeownership. This

and remains a critical focus of the HCEDC’s

partnership helps to narrow the wealth gap for low-

mission to serve the community and strengthen

income New Jerseyans helping to create equity and

Hudson County’s local economies. Partnerships with

furthers our goal to end the cycle of poverty here.”

New Jersey Community Capital, the state’s largest

shared Carol Mori, GSECDC Executive Director.

community development financial institution and

Qunita Whitely recently closed on her home with

Garden State Episcopal Community Development

assistance from the program. “I’m grateful for the

Corporation in Jersey City help make the dream of

$15,000 grant. I have over $100,000 of student loan

ownership a reality for many low-income families.

debt and without this grant money, I would not have

By providing budgeting, pre-purchase, and credit

been approved for my mortgage. The process took

counseling with access to low-cost mortgage loans

longer than usual and Daniel was extremely helpful

through affordable homeownership mortgage

and patient throughout the process. This is my first

programs like Address Yourself , the organization

home and means a lot to me. I come from a middle-

paves the way to financial stability.

class family and most don’t have a degree or even

TM

own a home. I don’t want to sound like a cliché, but this is definitely a dream come true.”

HCEDC worked together with GSECD and NJCC to enable homeownership for first-time home buyers in Hudson County.

“Partnership is the key to achievement. HCEDC and NJCC worked together to enable homeownership for first-time homebuyers in Hudson County.

The contributions of both organizations made this program a success. By listening to one another and working collaboratively, we were able to make homeownership a reality for many low-income

“The HCEDC down payment assistance grant

families. The power of this partnership proves that

of $12,500 per house further assisted families

true partners are more than the sum of their parts.”

in covering down payment and closing costs so

NJCC President, Wayne Meyer shared.

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HCEDC : Annual Report 2021

5 HCEDC

Hudson County Economic Development Corporation

OPENING DOORS FOR

Genuardi Master Tailor

W

alking into Genuardi Master Tailor and

resources which I’ve called upon at key points in my

Lackawanna Clothing housed in Hoboken’s

business’s growth. Finally, through the challenges

Neumann Leathers building located at the foot

of COVID-19, it has been reassuring to know that I

of the rail yards feels like stepping back in time.

have a relationship with a lender that can help us

Recognized nationally and internationally, Joseph

creatively respond to setbacks and thrive long-term.

Genuardi’s shop is one of the few classically trained

The combination of accessible capital and business

master tailor teams remaining, utilizing traditional

resources has helped us to mitigate mistakes and

techniques to craft bespoke formal and casual wear

build confidently for the future.” shared Joseph

from the finest cloths in the world.

Genuardi.

“My partnership with HCEDC began in 2016 with

“Living and working in Hudson County is a unique

the Entrepreneurship 101 class in Jersey City offered

and energizing experience. There is a great vitality

by UCEDC. I enrolled as I was opening my shop to

to the business community that comes from the

ensure that I understood best practices to operate

diversity of cultures along with strong support for

a successful business; later that year I went on to

entrepreneurship and new ideas. The education and

win their Quick Pitch competition. Their programs

access HCEDC provides is a big part of creating the

also gave me access to their business mentor

ideal environment for us to thrive.”

“The combination of accessible capital and business resources has helped us to mitigate mistakes and build confidently for the future.”

—MASTER TAILOR JOSEPH GENUARDI

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HCEDC

Hudson County Economic Development Corporation

6 OPENING DOORS FOR

Cavany Foods

B

orn in Venezuela, Chef Alejandro Ferrer, owner

I think about what this has meant to me the word

of Cavany Foods in Jersey City is passionate

‘familia’ comes to mind. Being able to collaborate

about food, family and community. Housed in a

with the HCEDC team has inspired me to believe in

vibrant corner at 235 Grand Street, the light-filled

myself,” stated Alejandro.

space offers a new concept in organic prepared meal pick-up and delivery, meal plans and catering along with groceries.

Since 2015, HCEDC has been the leading sponsor of the Hispanic Entrepreneur Training Program through the Statewide Hispanic Chamber of Commerce of New Jersey which provided Alejandro with access to valuable information, networking opportunities, new markets and capital.

As a participant in this long-standing partnership, Alejandro was paired with a team of coaches to assist in a variety of ways. Head Coach, Reina Valenzuela, supported him with market research, commuter statistics and helped develop Cavany’s business plan. Accounting coach, Karem Ospino, assisted Alejandro with growth projections and developing financial reports in concert with program coach, Tatiana Orozco, who worked with Alejandro to build a comprehensive marketing plan. The Chairman of the Board, Luis de La Hoz, along with the HETP team, empowered him by providing access to capital.

“As an immigrant, knowing that I had such an experienced and dedicated team working on my behalf has been an inspiring and extraordinary experience for myself and my business. It is one of the empowering aspects of being an entrepreneur in Hudson County. The

“Being able to collaborate with the HCEDC team has inspired me to believe in myself.”

—CHEF ALEJANDRO FERRER

support I’ve received throughout the entire process was critical to make my idea a reality. When

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HCEDC : Annual Report 2021

HCEDC

Hudson County Economic Development Corporation

HCEDC

Board, Staff, and Partners

Members of the Board of Trustees

Partners

Kevin O’Connor – President

The stories of Opening Doors would not be possible without

Alan M. Lambiase – Vice President

the support and commitment of our partners:

Richard F. Dwyer – Treasurer Kenneth O’Neill –Assistant Treasurer

Columbia Bank

Harry Melendez – Secretary

Garden State Episcopal Community Development

Francesca Giarratana

Corporation

Norman Guerra

Hudson County Chamber of Commerce

Bernel Hall

Hudson County Community College

Carlos Medina

M&T Bank

Lisa Prusko

New Jersey Community Capital

Honorable Jermaine Robinson

NJ Lender Corporation TD Bank

HCEDC Staff

Santander Bank The Provident Bank The Small Business Development Center at New Jersey

Michelle Richardson – Executive Director

City University

Tammy Watterman – Office Manager

Statewide Hispanic Chamber of Commerce of New Jersey

Gillian Hansen – Programs and Communications

UCEDC

Coordinator

Supported By County Executive Tom DeGise and the Board of County Commissioners

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Valley Bank

Through HCEDC’s powerful partnerships, our ongoing commitment to serving and supporting underserved communities continues to shape Hudson County in meaningful and lasting ways.

HCEDC “The education and access HCEDC provides is a big part of creating the ideal environment for us to thrive.”

—Genuardi Master Tailor

HCEDC : Annual Report 2021

Hudson County Economic Developm Corporation

HCEDC HCEDC

Hudson County

Hudson County Economic Development Economic Development CorporationCorporation

The mission of the Hudson County Economic Development Corporation is to serve Hudson County’s diverse communities by providing comprehensive financial access, information, professional training and affordable housing. Our vision is to build a healthy local economy through collaborative partnerships for businesses, organizations and individuals.

Hudson County

830 Bergen Avenue

Economic Development

Jersey City, NJ 07306

Corporation

Go to: www.HudsonEDC.org