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Resisting Recession, Building Local Businesses Aspiring Entrepreneurs in Jersey City |
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Resisting Recession, Building Local Businesses Aspiring Entrepreneurs in Jersey City Look to their Role in Local Economy JERSEY CITY- July 17th, 2008 – Mayor Jerramiah Healy and dignitaries gathered on July 17th for an event from 6pm to 8pm at 334 Martin Luther King Drive to focus on the important role of small business owners in the local economy and to celebrate 29 entrepreneurs graduating from Rising Tide Capital’s Community Business Academy.
In the wake of an economic downturn, Rising Tide Capital—a non-profit organization based in Jersey City—is pursuing an innovative way to create economic growth and stability in some of New Jersey’s most distressed urban communities. Through The Community Business Academy—a 10-week course in business management and planning—Rising Tide Capital invests in the potential of talented local entrepreneurs to start and grow successful businesses.
Seeing the potential for the creation of jobs and businesses, Mayor Healy and the Jersey City Economic Development Corporation leveraged Urban Enterprise Zone funding this year to expand The Community Business Academy and make its program available to more entrepreneurs in the city.
The evening’s festivities—by invite only—began with a 6pm reception and featured prominent local officials and entrepreneurs speaking about the important role that entrepreneurship and small businesses have to play in resisting negative effects of a struggling economy on the local community. Guests included Mayor Jerramiah Healy, State Senator Sandra Cunningham, and Deputy Mayor Kabili Tayari.
“Graduates of the Community Business Academy go on to open businesses and create jobs in our community," said Alfa Demmellash, CEO of Rising Tide Capital. "Rising Tide Capital is proud to honor an exciting new class of entrepreneurs and we thank our funding partners for the support that allows us to provide full scholarships to local residents to take advantage of this opportunity.” Rising Tide Capital has been working in Jersey City for over four years, providing business training and consulting to aspiring local entrepreneurs. In the Fall of 2007, Rising Tide Capital’s work was featured in Oprah Magazine, Essence Magazine, Redbook Magazine, and The Wall Street Journal. Most recently, the company’s CEO was invited to speak at the United Nations Global Summit for a Better Tomorrow on March 4th, 2008.
For more information on our programs please visit: www.RisingTideCapital.org. or visit our offices at 348 Martin Luther King Drive, Jersey City, NJ 07305
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Entrepreneurship 
