ICIC Collaborates with NJEDA and Kean University to Launch Educational Program for Underserved Construction Contractors in New Jersey

BOSTON — The Initiative for a Competitive Inner City (ICIC) is thrilled to announce its collaboration with the New Jersey Economic Development Authority (NJEDA) and Kean University to introduce the Building for Growth (BFG) program in New Jersey. This tuition-free initiative aims to provide construction companies with the essential education and tools needed to enhance their capacity and develop sustainable growth strategies.

“I recommend Building for Growth enthusiastically: literally no stone was left un-turned. This helped me really identify gaps in my current workflow and where I need improvements. It also opened my eyes to the things I could be overlooking that are essential for success and performance,” shared BFG program alumna Hemlata Persaud of United Electric Contracting in Bayonne, New Jersey.

The BFG program focuses on empowering businesses to build their backlog, access capital, increase bonding capacity, and position themselves for larger contracts. Since its launch, the program has effectively supported construction companies primarily owned by people of color, women, and veterans. The hybrid 18-week curriculum features weekly classroom training, dedicated technical assistance, and personalized mentorship. Applications are currently open—click here to apply.

“By partnering with NJEDA and Kean University, we are reaffirming our commitment to empowering diverse small businesses in New Jersey,” stated Steve Grossman, CEO of ICIC. “The Building for Growth program will provide valuable resources and insights that help contractors overcome barriers and achieve lasting success.”

The program will include four in-person sessions, with a kickoff and graduation held at Kean University. Participants will gain knowledge in finance fundamentals, contract competition, construction law, and strategic planning.

To qualify for the BFG program in New Jersey, a company must:

• Be an independent, for-profit corporation in the construction industry
• Be headquartered in New Jersey or perform a significant percentage of contracts in the state
• Be at least 51% BIPOC- and/or woman-owned and/or veteran-owned and/or located in an overburdened community*
• Have annual revenues of $1MM-$10MM and/or be on track to reach or exceed $2MM within the next three years

About ICIC

The Initiative for a Competitive Inner City (ICIC) is a leader in accelerating small business growth in under-resourced communities. Founded by Harvard Business School professor Michael Porter, ICIC drives inclusive economic prosperity through innovative research and programs that create jobs, income, and wealth for local residents.