NJ MWBE funding push: Sherrill unveils $500K plan to boost minority business access
TRENTON, N.J. – Governor Mikie Sherrill on Wednesday spotlighted a new $500,000 proposal aimed at expanding access to state contracts for minority- and women-owned businesses, framing the effort as part of a broader push to reduce barriers and streamline government services for small business owners. The announcement came during a roundtable at the future site of Rojo’s Roastery & The Gingered Peach, where business leaders and lawmakers gathered to discuss long-standing disparities in access to capital and procurement opportunities.
The funding, included in the proposed Fiscal Year 2027 budget, would establish a dedicated team to help Minority and/or Women Business Enterprises (MWBEs) navigate New Jersey’s procurement process. Officials say the initiative targets gaps that have historically left minority-owned businesses with fewer state contract awards compared to their counterparts.
“We’re committed to making New Jersey the best place to start and grow a business—including for minority and women entrepreneurs where longstanding disparities have deprived them of critical opportunities,” said Governor Sherrill. “I want to thank the owners and operators of Rojos Roastery and The Gingered Peach, Joanne and Kelly, for hosting this critical discussion, as well as local leaders, as we continue the work to break down barriers and streamline government so that these entrepreneurs can reach their full potential and grow generational wealth.”
State investment targets procurement barriers
The proposed $500,000 investment would fund technical assistance programs designed to guide MWBEs through complex state contracting requirements. The administration said the effort is intended to directly address structural challenges that have limited participation in public contracts.
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The funding also aligns with a broader slate of initiatives aimed at supporting small businesses, including expanded resources through the New Jersey Business Action Center, which officials describe as a centralized “one-stop shop” for business assistance statewide. Additional programs include the New Jersey Economic Development Authority’s Small Business Bonding Readiness Assistance Program and the Wealth Disparities Initiative, both focused on strengthening access to capital and training.
Key Points
- $500,000 proposed to help minority and women businesses secure state contracts
- Funding would support technical assistance and procurement training programs
- Initiative tied to broader “Saving You Time and Money” agenda for small businesses
Roundtable part of statewide business outreach
The Trenton event is part of Governor Sherrill’s ongoing 21-county tour aimed at engaging directly with business owners and stakeholders. The tour supports the administration’s “Saving You Time and Money” agenda, which focuses on reducing regulatory hurdles and improving access to state resources.
Lawmakers including Senate Majority Leader Teresa Ruiz and Assemblywoman Verlina Reynolds-Jackson joined local officials and business owners at the roundtable, emphasizing the need to close opportunity gaps and expand pathways for business growth across underserved communities.
State officials said the combined investments are intended to provide MWBEs with the tools, training, and institutional support needed to compete more effectively, while also addressing broader economic disparities tied to entrepreneurship and housing.
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