Category: 3. Business

  • A Filipino bakery in Prince Albert is winning over Saskatchewan, a pastry at a time

    A Filipino bakery in Prince Albert is winning over Saskatchewan, a pastry at a time

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    On most mornings at La Suerte Bakery and Resto in Prince Albert, the day starts before sunrise.

    By the time customers arrive, trays of fresh doughnuts line the counter, and the smell of sweet Filipino breads fills the small shop on 6th Avenue East. Owner Ben Docabo moves between the kitchen and the till, greeting regulars while keeping an eye on the next batch in the oven.

    The bakery’s name comes from a nickname his mother coined for him when he was a boy. He kept it, he says , because her voice stayed with him.

    “It comes from a Spanish word, [it] means lucky one, la suerte,” he said. “I remember my mum’s wording when I was still young. She’d say ‘la suerte’ all the time.”

    Docabo moved to Prince Albert from the Philippines in 2007, trading the warm weather and tropical islands for Saskatchewan’s snowbanks and long winters.

    He didn’t mind it — for the most part — as long as he could bring the food with him.

    Even as he settled into his job at a local diner, he found himself missing the baked treats he grew up with. The soft pandesal, the sweet breads and the familiar smell of fresh dough in the morning.

    He soon realized others felt it, too, that small ache for home that lives somewhere between appetite and memory.

    By 2017, the feeling wasn’t just anecdotal. A feasibility study revealed that Prince Albert’s Filipino community was growing. It confirmed something Docabo had already been noticing and it flipped a switch.

    That same year, he opened La Suerte to cater to the community’s needs.

    A bakery storefront called 'La Suerte Bakery & Resto'
    La Suerte Bakery and Resto is located on 6th Avenue East (Aishah Ashraf/CBC)

    “There were a lot of Filipinos,” he said. “And I know Filipino people like Filipino baking back home.”

    For Renzo Mondejar, a Filipino immigrant, the bakery feels like more than a storefront, so he visits La Suerte every chance he gets.

    “It’s really nice because it’s not only going to give you a nostalgic feeling, but also it makes you feel at home even though you’re not in your home country,” he said.

    Packed containers of Filipino ensaymadas
    Ben Docabo says his classic ensaymadas are one of his bestselling baked goods. (Aishah Ashraf/CBC)

    At first, most customers were Filipino, people who knew the breads – and missed them – from home. However, the clientele quickly widened.

    Maya Fetterly, a regular at the shop despite having no Filipino background, raves about the coconut buns and the work Docabo puts in day in and day out.

    “He’s doing such a good job,” she said. “He is such a kind person in general and I know the high schoolers come here for lunch every day. [It’s] just a staple in the community.”

    A woman in a light green hoodie holds a bag of buns while standing next to a man in a black t-shirt.
    When customers such as Maya Fetterly walk into the bakery, Docabo greets them by name. That’s just the type of person Docabo is, Fetterly says. (Aishah Ashraf/CBC)

    The business expanded beyond Prince Albert when La Suerte’s products began landing on Superstore shelves in both Prince Albert and Saskatoon, along with several Asian markets in Saskatoon.

    But it hasn’t come easy. It’s meant long drives and even longer days for Docabo. He personally delivers the baked goods to Saskatoon, often filling his van to capacity.

    “Usually, it’s kind of a sacrifice,” he said. “But at the end of the day, when you see your customer happy, all those hardships are getting paid up.”

    What keeps him moving, he says, is the community that’s formed around the bakery.

    “I cannot explain how blessed I am, how the community responds to the way I deliver service,” he said. “But at the end of the day, I’m really thankful for them.”

    Eight years after opening his doors, the bakery’s doughnuts and breads, once made for a few dozen people, are now baked for thousands.

    Docabo talks about the future the same way he named the bakery, with optimism and faith.

    “I’m looking forward — maybe someday I can deliver to the whole Saskatchewan and the whole Canada as well,” he said. “Someday — that’s the dream.”

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  • Thousands of pounds of ground beef recalled in Washington, 5 other states

    Thousands of pounds of ground beef recalled in Washington, 5 other states

    Washingtonians who have recently purchased Forward Farms ground beef may need to toss it if the use- or freeze-by date is Jan. 13, 2026.

    Anyone who purchased grass-fed ground beef from Forward Farms with a use or freeze by date of Jan. 13 should throw out or return the product immediately.

    U.S. Department of Agriculture’s Food Safety and Inspection Service / KUOW

    Mountain West Food Group, LLC, is recalling nearly 3,000 pounds of ground beef products produced on Dec. 16 under its Forward Farms label. Testing revealed the products may be contaminated with E. coli.

    The U.S. Department of Agriculture’s Food Safety and Inspection Service said Saturday the recall is specifically for 16-ounce, or one-pound, vacuum-sealed packages of “Forward Farms Grass-Fed Ground Beef” that has a use- or freeze-by date of Jan. 13 and the establishment number “EST 2083” printed on the side of the packaging.

    The beef was distributed to retailers in six states: Washington, California, Colorado, Idaho, Montana, and Pennsylvania. Federal officials urged anyone who bought this product to throw it out or return it to wherever it was purchased.

    As of Saturday, there were no reports of illness due to the consumption of the product. Federal officials said anyone concerned they got sick from eating the product should contact a healthcare provider.

    E. coli can cause vomiting and bloody diarrhea. Some cases can last for days and may become severe.

    Anyone with questions about the recall can contact Jeremy Anderson, CEO of Mountain West Food Group, LLC, at 208-679-3765 or info@mountainwestfoodgroup.com.

    This story comes to you from the Northwest News Network, a collaboration between public media organizations in Oregon and Washington. It was originally published on KUOW.

    It is part of OPB’s broader effort to ensure that everyone in our region has access to quality journalism that informs, entertains and enriches their lives. To learn more, visit our journalism partnerships page.

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  • Weather continues to cause post-holiday travel woes for passengers at Chicago airports

    Weather continues to cause post-holiday travel woes for passengers at Chicago airports

    Monday morning’s weather, featuring snow, sideways winds, and sub-freezing temperatures, caused concerns for post-holiday travelers.

    More than 100 cancellations and many more delays were logged at O’Hare International Airport. 

    By noon, Chicago led the travel website FlightAware’s so-called misery map.

    Despite the holiday crowds, inclement weather, and the cancellations and delays, travelers said they were prepared.

    “Lots of charged iPads and snacks,” said Mark Wernick.

    “Maybe I’ll just read,” said Olivia Wernick.

    For some, that meant making the most of their delays, like the Yaun family coming from Cleveland, Tennessee, with a two-hour delay.

    “It was delayed this morning because our flight crew needed extra rest, so that was a little bit, but we got to sleep in, so it wasn’t that inconvenient,” said Maggie Yaun.

    O’Hare staff expected this holiday travel season to possibly set records at the Chicago hub, as did TSA when looking at their national numbers. It caused some flyers to hurry or scurry, even after a particularly bumpy experience on their way in.

    “My flight was coming in, we flew on Christmas Eve, and there were very many delays. Lots of delays. Our plane was broken, so we had to wait for a new plane. It was about five hours delayed,” said Melissa Rice. 

    Now hoping for a better flight back.

    “It looks ok. It’s on time. The plane I’m supposed to get on is on its way, so we’re crossing our fingers that it’ll be a smooth flight,” she said.

    This year saw changes, with the enforcement of the Real ID Act about two decades after it passed. Also, the end of the shoe removal at TSA checkpoints and the longest running goverment shutdown.

    However, there are still more changes ahead.

    At O’Hare, there could soon be even more flyers coming through as American’s announced an additional 100 departures starting next year. 

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  • USITC Institutes Section 337 Investigation of Certain Dynamic Random Access Memory (Dram) Devices, Products Containing the Same, and Components Thereof

    December 29, 2025

    News Release 25-132

    Inv. No(s).

    337-TA-1472

    Contact: Michelea Wyatt-McLeod
    , 202-205-1819

    USITC Institutes Section 337 Investigation of Certain Dynamic Random Access Memory (Dram) Devices, Products Containing the Same, and Components Thereof

    The U.S. International Trade Commission (USITC) voted to institute an investigation of certain dynamic random access memory (DRAM) devices, products containing the same, and components thereof. The products at issue in the investigation are described in the Commission’s notice of investigation.

    The investigation is based on a complaint filed by Netlist, Inc. of Irvine, California, on September 30, 2025. The complaint was supplemented on November 20, 2025, December 5, 2025, December 12, and December 16, 2025. The complaint, as supplemented, alleges violations of section 337 of the Tariff Act of 1930 in the importation into the United States and sale of certain dynamic random access memory (DRAM) devices, products containing the same, and components thereof that infringe patents asserted by the complainants. The complainant requests that the USITC issue a limited exclusion order and cease and desist orders. 

    The USITC has identified the following respondents in this investigation:

    • Samsung Electronics Co., Ltd., Suwon, Republic of Korea
    • Samsung Electronics America, Inc., Plano, Texas
    • Samsung Semiconductor, Inc., Plano, Texas
    • Google LLC, Mountain View, California
    • Super Micro Computer, Inc., San Jose, California

    By instituting this investigation (337-TA-1472), the USITC has not yet made any decision on the merits of the case. The USITC’s Chief Administrative Law Judge will assign the case to one of the USITC’s administrative law judges (ALJ), who will schedule and hold an evidentiary hearing. The ALJ will make an initial determination as to whether there is a violation of section 337; that initial determination is subject to review by the Commission. 

    The USITC will make a final determination in the investigation at the earliest practicable time. Within 45 days after institution of the investigation, the USITC will set a target date for completing the investigation. USITC remedial orders in section 337 cases are effective when issued and become final 60 days after issuance unless disapproved for policy reasons by the U.S. Trade Representative within that 60-day period.

    # # #

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  • We look back at a critical turning point in his career : NPR

    We look back at a critical turning point in his career : NPR

    Warren Buffett started out by identifying opportunities in undervalued companies. Later, his strategy was buying a company that would get bigger on its own. We look at that second phase of his career.



    SCOTT DETROW, HOST:

    Warren Buffett is officially retiring on Wednesday. He has served as the CEO of Berkshire Hathaway for 60 years. Our colleagues over at The Indicator from Planet Money, Robert Smith and Wailin Wong, take us through a turning point in Buffett’s career.

    WAILIN WONG, BYLINE: Young Warren Buffett in the 1950s and ’60s would buy stocks in small, undervalued companies and hold them for a short period of time and then make quick profits. That would change under the influence of his new partner in investing, Charlie Munger.

    ROBERT SMITH, BYLINE: Author Alice Schroeder says he helped push Buffett into a new investing philosophy – buy companies that sell things that people need and have growth potential.

    ALICE SCHROEDER: You could buy it once, and then you wouldn’t have to do a lot of work to it.

    SMITH: Buffett bought insurance businesses to generate cash. He bought newspaper companies. He bought a bank. He owned large blocks of the TV network ABC and GEICO insurance. And the idea was that each of these companies would generate money that you could essentially put into the other companies.

    WONG: And we should say, by the 1970s, Warren Buffett was truly becoming famous – as an investor, yes, but also because of his personal quirks. He was a multimillionaire, but he drove an old car and lived in a regular old house in Omaha, Nebraska.

    SMITH: There’s a famous moment in the mid-1980s when the investment firm Salomon Brothers is being targeted for a hostile takeover. And the CEO calls up Warren Buffett and says, essentially, help. And Alice Schroeder tells this story in her biography how Buffett made a huge profit just by publicly putting his money into Salomon Brothers.

    SCHROEDER: He learned to get the value for his reputation just by putting his name on things without doing work.

    WONG: It really is pretty remarkable that, as we tell this story, Buffett has remained on top of his game for, like, 60 years. But there were some dicey moments.

    SMITH: Yeah. The most famous was during the dot-com bubble in the late 1990s. This was the age of high-flying internet stocks, and he certainly would not invest in the internet. But as these internet stocks are going up, everyone is saying that Buffett is out of step. They say he’s losing his mental acuity. The stock in Berkshire Hathaway is languishing. Buffett ends up doing this very brave thing. In 1999, there was this big conference of CEOs in Sun Valley, and Warren Buffett shows up and he gives this speech to the executives there. They work at hotshot tech firms like Amazon and Apple and Intel and Yahoo. And Buffett says, the internet is certainly useful, yes, but the valuations of your companies are way, way too high.

    SCHROEDER: And he told them they were making a terrible mistake and they were wrong, and they made fun of him and they laughed at him.

    WONG: You know what, though? He was right. It was a bubble. The internet stocks plunged the next year. Over the next couple of years, the NASDAQ index went down 77%.

    SMITH: But Berkshire Hathaway, run by Warren Buffett, was up about 30% in the year 2000.

    WONG: Now, Warren Buffett was not always right. He made some big investing mistakes. A recent one is that he pushed the merger of Kraft and Heinz, two big food companies. They’re now breaking up and saying the merger never worked.

    SMITH: But it is notable that the fame of Warren Buffett meant that people didn’t dwell on his errors. And now that he’s retiring, people are looking back and acknowledging that 60 years of success is an unprecedented run in the up-today, down-tomorrow world of investing.

    WONG: And as for Berkshire Hathaway, it will go on even without Warren Buffett at the helm. Wailin Wong.

    SMITH: Robert Smith, NPR News.

    (SOUNDBITE OF MUSIC)

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  • US stocks lower as tech shares drop ahead of New Year

    US stocks lower as tech shares drop ahead of New Year

    The information technology sector weighed on the S&P 500, with most tech and AI-linked stocks falling, including Nvidia and Palantir Technologies.

    “This is (not) the beginning of the end of the tech dominance, it’ll turn out to be a buying opportunity,” said Hank Smith, director and head of investment strategy at Haverford Trust.

    “A big reason for that is the top tech names, excluding Tesla, do not have challenging valuations given their growth rate, the moat around their business and their financial strength, which is unparalleled.”

    At the close, the S&P 500 lost 24.2 points, or 0.35 per cent, to end at 6,905.74 points. The Nasdaq Composite fell 118.74 points, or 0.50 per cent, to 23,474.34, while the Dow Jones Industrial Average dropped 249.04 points, or 0.51 per cent, to 48,461.93.

    Sector moves mixed as oil rises and metals ease

    Tesla shares fell sharply after hitting a record high last week, weighing on the consumer discretionary sector.

    Materials stocks also slipped, with precious metal miners falling as silver dropped sharply after topping US$80 (A$120) an ounce for the first time. Gold prices also eased after posting back-to-back record highs last week.

    In contrast, energy stocks rose, tracking a two per cent lift in oil prices.

    Bank stocks retreated after a strong run this year. Citigroup, one of the sector’s standout performers in 2025 due to progress on regulatory issues, was among the day’s biggest decliners.

    Late-year rally pauses near record levels

    Stocks pulled back after the S&P 500 moved within one per cent of the 7,000-point mark. The blue-chip Dow closed at a record high last week.

    Some investors had been hoping for a “Santa Claus rally” — a seasonal pattern in which the S&P 500 often posts gains during the final five trading days of the year and the first two sessions of January, according to the Stock Trader’s Almanac.

    Despite Monday’s dip, all three major indexes remain on track for solid monthly gains. The Dow and the S&P 500 are heading for their eighth straight month in positive territory.

    Optimism holds despite year-end dip

    The bull market, which began in October 2022, remains intact despite concerns over high technology valuations and market volatility.

    Optimism around artificial intelligence, expectations of interest-rate cuts and signs of a resilient economy have helped put all three major indexes on track for a third consecutive yearly gain. Most strategists also expect further gains in 2026.

    With expectations for continued global economic growth and further easing by the Federal Reserve, “it would be unusual to see a major equity setback or bear market without a recession”, Goldman Sachs chief global equities strategist Peter Oppenheimer said in a recent note.

    Looking ahead

    Investors are now looking ahead to minutes from the Federal Reserve’s previous meeting and weekly jobless claims data in an otherwise light economic calendar.

    The S&P 500 is up about 17 per cent so far this year, as enthusiasm around artificial intelligence helped the US benchmark outperform Europe’s STOXX 600, despite some investors earlier diversifying away from US stocks.

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  • NHS England » NHS former chief executive among health service honours

    NHS England » NHS former chief executive among health service honours

    The former Chief Executive of NHS England and a clinician who set up a service for refugee doctors are among those recognised on the New Years Honours list, released today (Monday 29 December). 

    Around three dozen NHS staff including nurses, surgeons, and GPs have been recognised for their service.

    The head of the NHS, Sir James Mackey, commended the commitment of those recognised amid another challenging year for the health service.

    The honours come at the end of a year in which the NHS dealt with record levels of demand and an early surge in winter viruses, but staff have continued working hard to bring down waiting times further.

    This year also saw the launch of the 10 Year Health Plan, outlining steps to transform the NHS to ensure it is fit for future generations.

    The NHS has already started to deliver on the key pillars of the plan through greater use of technology with record numbers of people now using the NHS App, and more support in communities with GPs delivering more appointments than ever before.

    Chief Executive of NHS England Sir James Mackey said: “As this year comes to a close, it’s important to take a moment to thank all our NHS staff who have been recognised for their dedication and tireless efforts to improve care for patients across the country.

    “It is incredible to see so many of our colleagues honoured for their commitment – from Amanda Pritchard, the first female chief executive of the NHS, to the clinicians transforming children’s care – we are incredibly grateful for the hard work of those who have continuously gone above and beyond for NHS patients.”

    Health Minister Baroness Merron said:“I offer my warmest congratulations to Amanda Pritchard, Suzy Lishman, Sarah Anderson, Saffron Cordery and all the other amazing health and social care leaders for their recognition in His Majesty the King’s New Year Honours List.

    “Amanda was hugely supportive during our time working together and showed incredible leadership in the face of the biggest health emergency in modern history.

    “All those recognised in the list have demonstrated the highest levels of integrity and unwavering commitment to the health and social care sector.”

    Former chief executive of NHS England, Amanda Pritchard, received a Dame Commander of the Order of the British Empire for her services to the NHS, including being the first woman in the health service’s history to hold the post of NHS chief executive, having began her NHS career as a graduate management trainee in 1997.

    Amanda was Chief Executive from August 2021 until March 2025 and formally chief operating officer at NHS England from 2019, leading the NHS through the most challenging period in its 76-year history.

    After leaving NHS England Amanda returned to be Chief Executive of Guy’s and St Thomas’ NHS Foundation Trust in September 2025, where she held the role previously. She was also previously Deputy Chief Executive at Chelsea and Westminster NHS Foundation Trust and served as a health team leader in the Prime Minister’s Delivery Unit.

    She said: “I am deeply honoured to receive this award, which reflects the extraordinary achievements of so many people across the NHS past and present. The health service cares for over 1.7m people every day, with dedicated staff going above and beyond, time and again, for patients and their families.

    “Their commitment was never clearer than during the Covid pandemic, including the NHS’s world-leading vaccine rollout.  It was an enormous privilege to lead the NHS in England through what was undoubtedly the greatest challenge in the health service’s history.

    “Staff have continued to show the same commitment and passion to recover services, innovate and transform care for the future. I am delighted to be back now on the front line of the NHS, continuing to play my part alongside extraordinary colleagues across the health service and beyond who are committed to providing high quality healthcare for all, now and for future generations. This honour belongs to them all.”

    Also, among those praised for their work, was Jackie Hanson, former regional chief nurse for NHS England, who received a Member of the Order of the British Empire (MBE) for her services to the nursing profession and health services leadership.

    She said: “I am deeply honoured and proud to receive this award that has been given in recognition of my leadership contribution to Nursing and Health services. I have been enormously privileged to work alongside dedicated, hardworking and compassionate staff who have strived to improve the quality of health care services for communities and patients within the North West.

    “I dedicate this award to all of them and thank them for their support and guidance throughout my career.”

    Dr Michael Marsh, NHS England’s former South West Medical Director, was also recognised with an MBE for his contributions to healthcare, including establishing the first Paediatric Intensive Care Unit at University Hospital Southampton – a landmark achievement that has had a lasting impact on the care of critically-ill children.

    Dr Marsh said: “My entire career has been a joy and a privilege, firstly as a paediatrician caring for our most vulnerable and sickest patients, and as a medical leader improving services for the wider public. Now, in my non-executive roles at Moorfields and University Hospital Dorset, I’m able to continue to support high standards of clinical care.”

    Also recognised was South West London and St George’s Mental Health NHS Trust Chief Executive, Vanessa Ford, who was awarded an MBE in recognition of her leadership and commitment to improving mental health services.

    She said: This honour recognises the incredible work of people across the Trust – our patients, their carers, our staff and our communities. I am fortunate to work alongside diverse, talented and compassionate people who work tirelessly to reduce the stigma of mental ill health and improve care for all of our communities. Receiving this award is an absolute honour, and one that belongs to us all.”

    Retired doctor, Dr Maeve Keaney, was also recognised with an MBE for services to refugee doctors in Manchester, after establishing the Refugee and Asylum Seekers Centre for Healthcare Professionals Education project in 2003 – a programme that has supported hundreds of refugee and asylum seeker doctors and nurses to regain their professional identity and return to clinical work in the NHS.

    Twins, Ryan Appleton and Dean Appleton from Colchester, who are both community first responders, are also receiving British Empire Medals for services to the community in the East of England.

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  • Sainsbury’s CEO among business leaders recognised in new year honours | Business

    Sainsbury’s CEO among business leaders recognised in new year honours | Business

    The boss of Sainsbury’s who helped turn around the grocer’s fortunes is among leading figures from the business world to be recognised in the new year honours list.

    Simon Roberts, who has been chief executive of the UK’s second largest supermarket since 2020, has been made a Commander of the Order of the British Empire (CBE) for services to the retail industry.

    His tenure has included leading Sainsbury’s through the Covid pandemic as well as the cost of living crisis while improving its market share, helping its stock price rise by about three-quarters.

    Roberts courted controversy during 2025 as he was accused of “Orwellian” tactics for trialling facial recognition technology to combat shoplifting and embarked on a programme to axe 3,000 jobs as part of a £1bn cost-cutting drive while being paid more than £5m in the supermarket’s financial year to 1 March.

    The businessman was a member of the then prime minister Rishi Sunak’s 2023 business council and took over as president of the Institute of Grocery Distribution in 2024.

    Elsewhere in the business sector, the former National Grid chief executive John Pettigrew has been made a CBE for services to energy.

    He ran National Grid, which runs much of Britain’s electricity grid, for almost 10 years until leaving the role in November. He had joined the business as a graduate in 1991.

    In the defence industry, the former chief executive of BAE Systems Ian King becomes a CBE for services to the transport and defence sectors.

    He led the FTSE 100 firm, which is Europe’s biggest defence contractor, for nearly a decade until his retirement in 2017 after a career spanning more than 40 years in the sector.

    Gary Hoffman, the chair of the online bank Monzo who was previously the chief executive of Northern Rock, has also been made a CBE.

    Hoffman, who was parachuted into Northern Rock in 2008 after it almost collapsed during the financial crisis, has been recognised for services to the economy and sport.

    He was chair of the Premier League from 2020 to 2022 but faced criticism over his handling of Newcastle United’s takeover by a group led by Saudi Arabia’s sovereign wealth fund. He was also partly blamed for playing a role in the European Super League scandal.

    This month there were reports that a number of investors were calling for Hoffman to be ousted from his role at Monzo.

    Matt Brittin, who led Google in Europe, the Middle East and Africa until the start of 2025 and is now a non-executive director of Guardian Media Group, has been awarded a CBE for services to technology and to enhancing digital skills.

    Pamela Maynard, Microsoft’s chief AI transformation officer, has been awarded an Order of the British Empire (OBE), as have Unilever’s research and development head, Jonathan Hague, and Peter Higgins, an entrepreneur who co-founded the menswear business Charles Tyrwhitt.

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  • Startups Developed at NJ’s 12 Strategic Innovation Centers Projected to Generate over $17 Billion in Economic Output and Support 28,000 Jobs in a Decade

    Startups Developed at NJ’s 12 Strategic Innovation Centers Projected to Generate over $17 Billion in Economic Output and Support 28,000 Jobs in a Decade

    December 29, 2025 at 4:52 pm

    4 minute read



    Independently prepared report details how NJEDA’s $190M SIC commitment will enhance NJ’s economic competitiveness

    TRENTON, N.J. (December 22, 2025) – The New Jersey Economic Development Authority (NJEDA) today released findings from an economic impact assessment of the Strategic Innovation Center (SIC) initiative, which brings together startup founders, investors, academic institutions, and private sector leaders to foster research and development in high-growth sectors such as artificial intelligence (AI), the life sciences, and advanced manufacturing. The results found that the state’s 12 SICs will catalyze new and sustained economic activity in key industries, creating economic opportunities, supporting and retaining innovative early-stage companies, and driving long-term economic growth.

    The report quantifies the 10-year economic impact of each SIC and showcases how the NJEDA’s investments in development, operations, and startup financing will lead to widespread economic growth. Collectively, the NJEDA’s $190 million SIC commitment is projected to create $8.9 billion in direct economic impact of graduated startup operations and research activities by year 10. New businesses that are formed and developed at SICs are expected to generate $17.2 billion in economic output, support 28,000 jobs, and contribute $427 million in total annual tax revenue.

    “Since taking office, my administration has been focused on expanding resources for entrepreneurs and supporting startup development to reclaim New Jersey’s historic position as an innovation hub,” said Governor Phil Murphy. “The state’s growing roster of Strategic Innovation Centers will create new and long-term opportunities for startup founders, researchers, and industry stakeholders, increasing tax revenues and creating jobs across the Garden State.”

    SICs are facilities that support research and development, innovation, and entrepreneurship through mentorship, networking opportunities, hands-on training, business support services, and education opportunities. SICs can be accelerators, incubators, or research centers. Having a physical location where entrepreneurs can collaborate will help support new, diverse innovators and help drive long-term economic growth.

    “Over the past eight years, Governor Murphy and the Legislature have made historic investments into fostering a strong and equitable innovation ecosystem, ensuring all entrepreneurs have access to capital and the resources needed to build and grow in the Garden State,” said NJEDA Acting Chief Executive Officer Mary Maples. “The NJEDA’s Strategic Innovation Center initiative is creating collaborative environments where startups can thrive, creating billions in economic output and generating thousands of jobs in the decades to come.”

    The independent report was conducted by Econsult Solutions Inc. It assessed employment, labor income, output, and tax revenue impacts using the IMPLAN modeling software, projecting both financial and economic development outcomes for each SIC to offer a total view across the SIC platform. Click here to read more.

    “From North Jersey to South Jersey, Strategic Innovation Centers are supporting startups and technological innovation, helping drive our economy forward,” said NJEDA Chief Economic Transformation Officer Kathleen Coviello. “New Jersey has invested robust resources into its innovation economy throughout the Murphy Administration, and this report confirms that the return on our investment will be thousands of good-paying jobs and billions of dollars in economic impact. As we continue supporting our innovation ecosystem, it’ll lead to sustainable, long-term economic growth across the whole state.”

    The report organizes New Jersey’s SICs into three clusters: Information and High Technology, Life Sciences, and Advanced Manufacturing. The 12 SICs are:

    Information and High Technology

    • NJII Venture Studio (Newark) will accelerate and commercialize high-tech and information technology in collaboration with the New Jersey Innovation Institute, a subsidiary of the New Jersey Institute of Technology.
    • New Jersey Fintech Accelerator at Stevens Institute of Technology (NJ FAST) (Hoboken and Newark) is an accelerator focused on advancing innovation in digital payments, cybersecurity, data analytics, and financial services modernization.
    • NJ AI Hub (Princeton) is a center for artificial intelligence research, workforce development, and entrepreneurship, in partnership with Princeton University, Microsoft, and CoreWeave.

    Life Sciences

    • Edge Works at SciTech Scity (Jersey City) is a planned mixed-use innovation complex linking digital health, medtech, and climate technology entrepreneurship with Liberty Science Center’s education and research mission.
    • The Health and Life Sciences Exchange (HELIX) and the NJ Innovation Hub (New Brunswick) will be a world-class center for translational research and innovation to be completed in Spring 2026 bringing together Rutgers University, RWJBarnabas Health, Hackensack Meridian Health, and private industry partners.
    • NJ Coriell Labs Innovation Center (Camden) will be a hub for advanced biotechnology and genomics-based start-ups co-located within Coriell’s new science campus in Camden and engaging with academic partners Rowan University and Rutgers University.
    • New Jersey Accelerator for Innovation in Medtech (NJ AIM) (Camden and Mullica Hill) will be an accelerator for early-stage medical technology ventures operated by Plug and Play in partnership with Rowan University.
    • Nurture NJ Innovation Center (Trenton) is the nation’s first accelerator dedicated to maternal and infant health innovation, building on the leadership of the Nurture NJ initiative.

    Advanced Manufacturing

    • NJ Nokia Bell Labs Innovation Center (New Brunswick) will be located at the second phase of HELIX to provide emerging companies with necessary business training, operating services, physical space, and management guidance to transform their research into commercially viable products and services. The Bell Labs Venture Studio (Murray Hill) is a venture creation platform that pairs Bell Labs’ deep scientific expertise with start-up acceleration, targeting advanced manufacturing applications in photonics, materials science, and communications infrastructure to be relocated to NJ Nokia Bell Labs Innovation Center.
    • Atlantic County NJ Aerospace SIC (Egg Harbor Township) will be located in the National Aerospace Research & Technology Park and provide state-of-the-art aerospace research spaces, high-speed connectivity data systems, laboratories, and co-working and studio spaces.
    • HAX (Newark) is an advanced hardware accelerator operated by SOSV that supports early-stage companies developing robotics, climate technologies, and physical products that merge design, engineering, and scalable production.
    • NJ HAX Plasma Forge (Princeton) will be a specialized technology development platform focused on plasma-based energy and manufacturing innovations, exploring applications in clean energy systems, materials processing, and sustainable industrial production.

    To learn more about the NJEDA’s SIC initiative, visit https://www.njeda.gov/strategic-innovation-centers/.

    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 FacebookTwitterInstagram, and LinkedIn.

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  • How Samsung Is Investing in Communities and the Next Generation

    How Samsung Is Investing in Communities and the Next Generation

    As 2025 comes to a close, Samsung Electronics America is reflecting on a year defined by community connection, education and opportunity, guided by the belief that meaningful impact happens when people, technology and purpose come together.

    Throughout the year, Samsung partnered with nonprofit and education organizations across classrooms, museums and community spaces to help students build critical skills, explore career pathways and gain exposure to real-world technology. In 2025 alone, these workforce development and community education initiatives supported approximately 4,400 students across New Jersey, Texas and communities nationwide.

    Together, these efforts reinforce Samsung’s long-standing commitment to empowering the next generation through access, exposure and experiential learning, helping bridge the gap between education and industry.

    Bringing STEM Education to Life

    Education sits at the core of Samsung’s community impact efforts, with a continued focus on advancing STEM learning that is hands-on, inclusive and grounded in real-world problem solving. Through local partnerships and employee-led initiatives, Samsung supports students across communities by expanding access to technology, skills and experiential learning.

    During the company’s 15th annual Day of Service, Samsung employees partnered with Englewood Cliffs Upper School in New Jersey – near Samsung’s newly opened U.S. headquarters – to bring design thinking and innovation into the classroom. Sixth-grade students worked alongside Samsung volunteers on a collaborative challenge focused on addressing local community needs, using AI tools and Samsung devices to develop and present their ideas.

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