■ Hispanic Heritage Month
Continued From Page 8 chamber event earlier this summer . “ We make not like to share the secret sauce in our recipes but when it comes to success , we like to support each other .”
Guillermo Artiles , an attorney at McCarter & English in Newark with deep roots in the Hispanic community , said its businesses run the gamut from the small start-ups to huge corporations like Goya Foods Inc . and La Fe Foods Inc . that have grown from one generation to the next . Goya , the largest Hispanic-owned food company in the United States is headquartered in Secaucus . La Fe is a Mexican food processor located in Moonachie . In 2014 it was acquired by GraceKennedy , a Caribbean-based corporation .
As the Hispanic businesses grow and mature , Artiles said an interesting dynamic occurs . “ They want to work with smaller Hispanic owned companies . They want to empower the next generation of Hispanic entrepreneurs ,” he said . De La Hoz said the bigger corporation also figure as an inspiration for the community . “ They dream of the one day when they can become like them .”
In support of New Jersey ’ s small business community , the NJEDA is playing a critical role in ensuring that minority-owned businesses that may have struggled with access to capital in the past have the support they need to thrive in New Jersey . The NJEDA works with partners such as the Statewide Hispanic Chamber of
Commerce of New Jersey , the Latin American Economic Development Association , faith leaders , and a host of grassroots groups to ensure that business owners are aware of resources available to them . The EDA offers program materials in Spanish , and regularly reaches out to Spanish-language media to help spread the word about resources .
Many of the resources offered by the EDA specifically target the most at-risk businesses ,
“ It ’ s a close-knit community and we like to support each other . That ’ s our secret to success .”
including micro businesses , Hispanic-owned businesses , and businesses in communities that are eligible to be designated as New Jersey Opportunity Zones .
Camejo said Lakeland Bank has bilingual associates who can communicate with Spanish speaking customers , who often participate in education programs offered to help Hispanic businesses thrive and succeed .
Support for the Hispanic community is critical , especially for those who have started a cash-based business , De La Hoz said . He explained many Hispanics will open a restaurant , beauty shops , bodega or supermarkets because it requires less of an investment . But for the business to grow it must overcome challenges . He identified these as : access to capital , access to new markets , access to networks and digital gaps .
The chamber executive said a Hispanic entrepreneur often lacks previous credit history or collateral to help in acquiring capital . Less than 10 percent also own the property where their business is located .
Furthermore , De La Hoz said entrepreneurs must learn to tap new markets to protect themselves if their customers base is reduced or eliminated by economic downturn or sudden disruption , such as the pandemic . He said he encourages businesses to identify a general market and find ways to sell to government because it is an excellent consumer . The networking issue is a more subtle situation De La Hoz explained . Since many entrepreneurs are immigrants , they do not have long established relationships with schoolmates , neighbors , community leaders . He urges them to build their base to assist their businesses . As regards the digital gaps , he said it occurs because many Hispanic entrepreneurs rely solely on their cell phones for internet access and it limits their abilities . In his role at the Hispanic chamber and with Valley Bank , De La Hoz is working with the businesses to overcome the challenges .
GOYA FOODS
New Jersey is the corporate home of one of the most iconic Hispanic companies — Goya Foods . The acclaimed food brand is a multi-national corporation employing 4,500 people worldwide . But its corporate headquarters is located on a 47-acre tract in the Meadowlands . The facility , built in 2015 , houses the executive team , all its support staff and the company ’ s regional distribution center for the Northeast .
Down the road from the corporate headquarters is a production facility in Secaucus , which is also equipped with rail service for shipping products . Goya employs 500 workers in New Jersey , including those at its third location in Pedericktown in Salem County .
Commerce Magazine recently asked Goya President and CEO Bob Unanue to reflect on his company ’ s history and how its Hispanic heritage contributed to its success .
Unanue explained the company was founded in 1936 in Manhattan by his grandparents . “ We are proud to call New Jersey home for almost 50 years . Goya planted its roots in New Jersey in 1974 when the area was still swamplands and pig farms . We are one of the first businesses to come into the Meadowlands .
“ We believed then and we believe now that being in New Jersey allows us to continue to deliver the best possible service to our loyal consumers and customers throughout the region . We see New Jersey as a strategic location and a partner that offers a number of benefits including a business-friendly environment , resources , land , qualified personnel and easy access to the tri-state area through both highways and rail service . This helps to cut down in transportation costs and increase our distribution of products in the Northeast area while reaching key markets at a greater level . We felt it was important for us to stay in New Jersey because we wanted to continue to make a strong impact on the communities that we have served for over 85 years .
“ Goya has fostered a long-standing history in leading the culinary culture of Latin cuisine in the United States while solidifying its position as an iconic symbol beginning in New York City . The history and story of Goya are as much about the importance of family and values as it is about achieving the American dream and helping to cultivate the Latin culture in the United States .
“ In 1936 , Don Prudencio Unanue and his wife Carolina , immigrants who first migrated to Puerto Rico from Spain , started Goya in a small storefront on Duane Street in Lower Manhattan . Driven by the belief that there was a growing consumer market for high-quality , fresh-tasting , Latin foods , the Unanues catered to local Hispanic families by distributing authentic Spanish products starting with olives , olive oil , and sardines . As the Hispanic population grew in New York and throughout the United States , Goya ’ s product line and facilities expanded as well .
“ Goya has built this company based on the foundation of our founders set out for us to follow and keeping with our Hispanic traditions of creating high quality , and authentic Latino food products . Our success is the sum of years and years of experiences and contributions made by many men and women starting with our grandfather , our father , our uncles and top executives , whose dedication and hard work have carved out the company that we are today , the largest Hispanic-owned food company in the United States . Our founders believed in the American dream and we will continue to embrace their legacy and values as we build and contribute to the greatness of the Goya brand as well as to the greatness of this country .”
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