Center will offer key services to small business owners to help grow their business and close wealth disparity gap
TRENTON, N.J. (January 14, 2026) – The New Jersey Economic Development Authority (NJEDA) and Rowan University have partnered together to support the African American Chamber of Commerce of New Jersey’s (AACCNJ) Transformation Center. The Center, which has been designated by the NJEDA as a statewide Economic Empowerment Center, is a first-of-its kind, main street-focused business incubator designed to strengthen small businesses and expand access to resources for entrepreneurs across New Jersey.
At its December board meeting, the NJEDA Board approved a Memorandum of Understanding (MOU) with Rowan University, which will serve as the academic and research partner of the Center. The NJEDA will allocate $1.5 million to Rowan University to support the planning, coordination, and implementation of the Center, including technical assistance, training, mentorship, workforce development programming, and outreach to small business owners.
“Since taking office, Governor Murphy has prioritized expanding opportunity and advancing equitable economic growth across New Jersey,” said NJEDA Acting Chief Executive Officer Mary Maples. “The NJEDA looks forward to working with the African American Chamber of Commerce of New Jersey and Rowan University to ensure small business owners have access to the tools and resources they need to grow and thrive.”
Rowan University was selected as a partner based on its expertise in applied research, innovation, regional collaboration, and workforce development, including its long-standing work through the Rowan Center for Innovation and Entrepreneurship. Rowan will work to ensure Center programming is responsive to local business needs and aligned with the State’s wealth disparity reduction goals.
“This partnership with AACCNJ’s Transformation Center will amplify the power of individuals and organizations to build and sustain businesses and communities together,” said Ali A. Houshmand, president, Rowan University. “Our strengths in education, research and economic development will empower more of our New Jersey neighbors in ways we can only imagine.”
The Center will leverage AACCNJ’s direct ties to local businesses and industry networks to deliver practical, community-based support in the areas most affected by wealth disparities.
“We are extremely proud of our relationship with the Murphy Administration and our collaboration with the New Jersey Economic Development Authority (NJEDA) and Rowan University. These collective efforts are essential in bringing the vision of our Transformation Center to reality,” said Dr. John E. Harmon, Sr., President & CEO, African American Chamber of Commerce of New Jersey (AACCNJ). “This partnership serves as an excellent example of the public sector engaging strategically with the AACCNJ to mitigate socioeconomic disparities in New Jersey, resulting in a definitive win for everyone – including community stakeholders and small business owners.”
In 2021, Governor Phil Murphy issued Executive Order No. 262, establishing the Wealth Disparity Task Force to examine the causes of longstanding wealth disparities affecting Black and Hispanic New Jerseyans. Building on the Task Force’s findings, NJEDA has advanced targeted strategies to strengthen local capacity, expand access to resources, and foster collaboration to ensure minority- and women-owned businesses can fully participate in the state’s economy.
“The mission of the Wealth Disparity Task Force to close opportunity gaps and support wealth building will be advanced through the AACCNJ’s Transformation Center,” said Jayné Johnson, Director of the Governor’s Office of Equity, and Convenor of the Wealth Disparity Task Force.“The Center, like the employee stock ownership pilot, pipeline initiatives, and numerous other NJEDA programs, brings to fruition the recommendations of the Wealth Disparity Task Force and increases the bottom line for minority- and women-owned businesses. Thank you to the NJEDA, the African American Chamber of Commerce of New Jersey, and Rowan University for ensuring that the task force’s work is more than words on a page but instead meaningful action that improves the lives of people.”
“The Transformation Center represents a long-term investment in the people and places that power New Jersey’s local economies,” said NJEDA Chief Equity and Inclusive Culture Officer Michelle Bodden. “By expanding access to opportunity and investing in community-based entrepreneurship, we are building a more inclusive economy for all New Jerseyans.”
About the NJEDA
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.
To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.
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