CLICK HERE to Help Mary Fight Life-Threatening Crohn’s Disease Mona Montrage aka Hajia 4 Real has landed a massive new deal with an investment firm with simultaneously makes her the latest CEO in town. Hajia has signed a multimillion investment/promotional deal with investor group Quick Angels, in a partnership deal to commercialize her brand and… S23 and East Coast Repair and Fabrication are investing $64.4 million to build facilities in Newport News. With the investment will come hundreds of jobs and a jobs training program. The Rockefeller Foundation has launched a new initiative that will invest $10 million in 10 U.S. cities, including Chicago, to promote economic equity for low-wage workers and minority-owned small businesses.
CLICK HERE to Help Mary Fight Life-Threatening Crohn’s Disease
Mona Montrage aka Hajia 4 Real has landed a massive new deal with an investment firm with simultaneously makes her the latest CEO in town.
Hajia has signed a multimillion investment/promotional deal with investor group Quick Angels, in a partnership deal to commercialize her brand and jointly own the company ‘MONA 4REALL LIMITED’.
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Hajia will be the Chief Executive Officer of the newly formed joint venture ‘MONA 4REALL LIMITED’.
Quick Angels Limited is an Angel investor company that seeks to support startups, entrepreneurs, and businesses that need equity funding for growth. They launched their operations in May 2019 and have so far signed over 20 businesses ranging from purely startup firms to existing businesses and innovative ideas.
Hajia 4 Real is the first brand personality to have landed a deal with Quick Angels.
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“We are excited about this partnership. This is going to bring growth to the MONA BRAND, something I have been looking out for a long time to change the face of my brand,” Hajia 4 Real said after the signing.
“This joint venture means a lot to me. I want to say a big thank you to the CEO and management of Quick Angels Limited for the confidence they have in my brand. This gives me hope because I envisaged it, dreamt it, and now Quick Angels are bringing it to life. I knew one day someone will see an investment opportunity in my brand I have built over the years. The day is finally here,” she added.
CEO of Quick Angels Limited, Mr Richard Nii Armah Quaye said: “This partnership is strategic. We have come to a point where we have a lot of brands competing locally and globally. Brands that are doing so well and will change the narrative soon. This is one of them in Brand personality.
“The partnership is expected to build on the Mona and 4Reall brand, and while at it create and introduce products and labels in the near future. So much thought and research have gone into this partnership and it is expected to transform the fashion and lifestyle industry.”
Ship repair company plans to bring 300 jobs to Newport News’ Southeast Community in $64 million investment
Jorge Rivera, CEO of S23 Holdings, hugs his mother, Blanca Rivera, while announcing the company will invest $64 million to build a facility and training center in Southeast Newport News that will create more than 300 jobs during a press conference Tuesday morning June 16, 2020. (Jonathon Gruenke / Daily Press)
A Hampton Roads ship repair and fabrication company plans to invest $64.4 million to build a facility in Newport News’ Southeast Community.
With the facility will come 332 skilled jobs and a training center just blocks from Ridley Place and other neighborhoods that are the focus of a major redevelopment project by the city and its housing authority, officials said.
Newport News and state officials, including Gov. Ralph Northam, announced the investment by S23 Holdings Tuesday morning at a vacant lot on Harbor Lane, the planned site of the facility. The area once contained the Harbor Homes public housing complex.
Among S23′s holdings is East Coast Repair and Fabrication, which has operations in Portsmouth, Norfolk, Jacksonville, Florida, and Chula Vista, California. About a year ago, an S23 affiliate company also purchased a pair of piers for large ship repairs in Newport News between the coal yard and the Monitor-Merrimack Memorial Bridge-Tunnel.
Jorge Rivera, chief executive and founder of S23 and East Coast Repair and Fabrication, said those piers bring back work that Newport News lost as some companies have left the area. The piers allow work on larger military vessels that have had to go elsewhere for repairs, he said.
At the site on Harbor Lane, Rivera said the company will build corporate offices, flex buildings as well as warehouse and manufacturing space. It will easily connect with the two large piers, he said. S23 will also create a training facility, Rivera said.
He worked at ship repair and shipbuilding companies in Newport News before he founded his company, which he said started as some welding tools in the back of a pickup truck. Rivera was inspired to start a business in 1999 to help his mother’s dream of establishing a school for children with disabilities in their native Puerto Rico. Since then, Rivera said giving back to the communities he works in has always been his central mission.
Governor Ralph Northam announces S23 Holdings will invest $64 million to build a facility and training center in Southeast Newport News that will create more than 300 jobs during a press conference Tuesday morning June 16, 2020. (Jonathon Gruenke / Daily Press)
Newport News City Manager Cindy Rohlf said private investment from companies like S23 coupled with the Choice Neighborhood Initiative would change lives. In 2019, the city and the local housing authority received a federal grant for $35 million to redevelop the Marshall-Ridley neighborhood in the Southeast Community, which has higher rates of poverty and unemployment than the rest of the city. Newport News plans to tear replace the Ridley apartments across from the facility site with new housing.
Several community leaders of the Choice Neighborhood effort were present for the announcement Tuesday and cheered upon hearing about the new jobs and the training program.
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S23 plans to bring the 332 jobs to Newport News over the next five years. The average pay will be more than $51,000, according to the Newport News Economic Development Authority.
Northam highlighted the ongoing economic crisis brought about by the pandemic and said $64.4 million investment is a tremendous “shot in the arm.” He touted the importance of maritime industries to Virginia’s economic recovery.
Officials did not have a specific timeline for the project. Florence Kingston, the city’s director of development, said the city will work with S23 on rezoning the property. As well, she said the city is investing in some road improvements along Terminal Boulevard where the piers are located.
The city’s incentives to bring S23 to Newport News total $1.1 million, and the state’s total just under $2.7 million.
Josh Reyes, 757-247-4692, email@example.com
- East Coast Repair and Fabrication
- Newport News
- Southeast Community
- Choice Neighborhood Initiative
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Rockefeller Foundation pledges $10 million to increase economic opportunity for minority-owned businesses in Chicago and 9 other cities
Clouds partially cover the Chicago skyline including the former John Hancock Center, on June 12, 2020. (Jose M. Osorio / Chicago Tribune)
The Rockefeller Foundation has launched an initiative that will invest $10 million in 10 U.S. cities, including Chicago, to promote economic equity for low-wage workers and minority-owned small businesses.
The program, called the Rockefeller Foundation Opportunity Collective, plans to allocate funds to nonprofits, businesses, faith-based organizations and government institutions with the goal of helping minority-owned small businesses gain access to credit and preventing commercial gentrification in communities of color.
The New York-based foundation hasn’t finalized which groups will receive the funding. The funds are part of a $65 million pledge the group made earlier this year to help low-wage workers and their families. As part of that pledge, it created the U.S. Equity and Economic Opportunity Initiative at the Rockefeller Foundation, which aims to support economic stability and mobility for communities of color.
In addition to Chicago, the group plans to invest in Atlanta; Boston; El Paso, Texas; Miami-Dade County, Florida; Houston; Louisville; Newark, New Jersey; Norfolk, Virginia; and Oakland, California.
The foundation will conduct webinars with organizations from each city during the next month to discuss the program, and review applications to determine funding.
One of the issues the Rockefeller Foundation hopes to address is access to capital and credit for businesses owned by people of color and women. Many minority-owned businesses lack a relationship with larger banks, experts say. During the coronavirus pandemic, some small business owners said the lack of such a relationship made it difficult to access loans from the Paycheck Protection Program, a federal aid program administered through the U.S. Small Business Administration.
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Otis Rolley, senior vice president of the Rockefeller Foundation’s U.S. Equity and Economic Opportunity Initiative, said black and brown communities continue to face systemic barriers in accessing credit. Those communities also face gentrification issues as mom and pop shops owned by people of color are replaced with larger chain stores and restaurants when they close.
“Small businesses in black and brown communities face commercial displacement. We want to find a way to help them stay on main street,” Rolley said. “Economic justice is essential in advancing the American dream.”
Mayor Lori Lightfoot applauded the program in a news release, saying she hoped it could serve as a model for bringing “historic systems of racism and injustice to an end once and for all.”
“By drawing on the comprehensive resources of our communities, this visionary program will not only provide critical support to our neighborhoods devastated by the COVID-19 crisis, it will also help address the deeper, generational fissures of inequality across our cities,” Lightfoot said.
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