minority small business
Economic Development

Treasury & EDA Hosting Follow-up Subcontractor Opportunity

More than Half of Professional Service Providers and Subcontractors on the Project are Small, Minority, Veteran, and Women-Owned Businesses

The New Jersey Department of the Treasury and the New Jersey Economic Development Authority (NJEDA) will host a second opportunity forum next week to help small, women, minority, and veteran-owned subcontracting companies (SMWVBEs) explore opportunities to work on the new state office building development projects underway in Trenton.

The Small, Minority, Veteran, and Women-Owned Subcontractor Opportunity Event will take place on April 15 from 9:00 a.m. to 11:00 a.m. at Thomas Edison State University, Prudence Hall, 111 West State Street in Trenton.

The State Office Building Development Project is a partnership between the NJEDA and NJ Department of Treasury, Division of Property Management and Consulting (DPMC) to construct new Division of Taxation and Department of Health buildings in downtown Trenton. The project plans include a set-aside program with goals of ensuring at least 25 percent small business engagement, affirmative action hiring goals, and prevailing wage requirements.

So far, 12 of the 20 professional services providers and 11 of the 24 subcontractors hired to work on the projects are SMWVBEs.

“The administration is always striving to ensure an inclusive and level playing field when it comes to doing business with the State,” said State Treasurer Elizabeth Maher Muoio. “The success of the October Opportunity Forum led to the inclusion of a significant number of diverse subcontractors. Our hope is that this follow-up opportunity will help open the door for more diverse businesses to participate in the upcoming construction phases.”

Building on the success of the first Opportunity Forum in October 2018, the DPMC and the NJEDA organized the event as part of their efforts to create more opportunities for small businesses that may feel unprepared to work on large state projects.

“Building a stronger and fairer New Jersey economy starts with making sure everyone has access to the same opportunities,” said NJEDA Chief Executive Officer Tim Sullivan. “Providing the resources and guidance that small subcontractors need to compete for these jobs levels the playing field and creates new opportunities for these businesses to grow.”

Representatives from Turner and Torcon—the developers overseeing the construction projects—will detail available subcontractor jobs while representatives from the Department of the Treasury, the NJ Business Action Center, the Department of Labor, the African American Chamber of Commerce of New Jersey, the Veterans Chamber of Commerce, and the Office of Diversity and Inclusion will provide information and advice on the steps subcontractors must take to qualify for these jobs and bid on projects.

“So many small subcontractors are ready to take on these jobs and would succeed if given the chance,” said Trenton Mayor Reed Gusciora. “This event is a crucial step forward that will allow Trenton businesses to contribute to this valuable project revitalizing our downtown.”

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