WASHINGTON, DC - U.S. Senators Robert Menendez and Cory Booker (both D-NJ) today announced New Jersey City University and Rising Tide Capital will receive $500,000 for economic growth and job creation in Hudson County from the U.S. Department of Commerce's Economic Development Administration (EDA).
"We have to do all we can to help New Jersey's entrepreneurs succeed, especially in high-demand, high-skilled fields," said Sen. Menendez. "This funding will help provide the tools to recruit, train and create new entrepreneurs, creating good local jobs and improving the economy in Hudson County."
"Entrepreneurs are fundamental drivers of our state and national economies, and this funding will help those in Hudson County achieve even greater success," said Booker. "I'm grateful that the EDA is providing support to innovative New Jersey businesspeople and encouraging job creation in our region."
The $500,000 grant supports the University's "Start, Sustain, and Expand" project. It will go toward recruiting, training, and developing entrepreneurs.
The project is expected to provide development services to over 200 entrepreneurs in Hudson County's film, media, and communications areas. Its final goals are to expand the media and communications sectors, diversify the business market, and grow the regional economy.
New Jersey City University will work with Rising Tide Capital, a non-profit organization based in Jersey City, that works to transform communities and lives through business and entrepreneurship development.
Hudson County has had high levels of unemployment in the past five years and this EDA investment will target entrepreneurs and businesses of traditionally underserved communities in the county with hopes of providing a continuum of services to those who might not otherwise be served.
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