The New York & New Jersey Minority Supplier Development Council And the Long Island Hispanic Chamber of Commerce Sign Collaboration Agreement

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Memo of Understanding will expand corporate contract opportunities for Long Island and Queens Hispanic-owned businesses.

The New York & New Jersey Minority Supplier Development Council (The Council) and the Long Island Hispanic Chamber of Commerce (LIHCC) signed a Memo Of Understanding (MOU) on April 28 that will expand opportunities for LIHCC’s Nassau and Suffolk County Hispanic-owned businesses to gain a wider range of corporate contracts.

“The Memo Of Understanding will be mutually beneficial to both the Long Island Hispanic Chamber of Commerce (LIHCC) and The New York & New Jersey Minority Supplier Development Council (The Council),” said Jorge Martinez, President of LIHCC. “The LIHCC is charged with developing and promoting Hispanic-owned businesses from Queens to Montauk on Long Island. It is a wonderful opportunity for LIHCC members to become certified by The Council and avail themselves of the educational and networking opportunities essential to obtaining the corporate accounts that will bring their business to the next level.”

“This MOU will provide The Council with an opportunity to increase their Hispanic client base by serving the over 14,000 registered Hispanic Businesses on Long Island who are part of the 17 percent Hispanic population increase in Nassau County and 23 percent increase in Suffolk County,” pointed out Martinez, who is also the President of Better Claims Management Solutions, an insurance claims and third party administration agency located in Lynbrook, New York.

In March, the U.S. Census Bureau reported that the number of Hispanic-owned businesses grew 31 percent between 1997 and 2002 -- three times the national average for all businesses. According to the new report, Survey of Business Owners: Hispanic-Owned Firms: 2002, released by the U.S. Census Bureau, nearly 1.6 million Hispanic-owned businesses generated nearly $222 billion in revenue, up 19 percent from 1997. New York State had one of the fastest rates of growth for Hispanic-owned firms between 1997 and 2002 at 57 percent and accounted for 10.4 percent of all Hispanic-owned firms, and 5.6 percent of receipts.

“The Council is looking forward to formalizing our strategic alliance with the Long Island Hispanic Chamber of Commerce,” stated Lynda Ireland, president of The New York & New Jersey Minority Supplier Development Council. “Although The Council has certified many Hispanic-owned businesses in Nassau and Suffolk County, this Memo of Understanding will open new opportunities to more Hispanic business-owners. The Council’s corporate members include the largest private, public and foreign-owned firms in business. The Council is there to assist minority businesses and corporations on finding mutually beneficial business collaborations through networking, education programs, and business development.”

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Fern Gillespie