NEWS
PRESS RELEASE
FOR IMMEDIATE RELEASE
CONTACT:
Donna Davis
[email protected]
718-732-7524
SoBRO Wins Competition THRIVE
January 14, 2015, Bronx, NY
On January 13th, 2015, the New York City Economic Development Corporation (NYCEDC)
announced the South Bronx Overall Economic Development Corporation (SoBRO) as the winner of
a $100,000 grand prize for the third annual Competition To Help Reach Immigrant Ventures and
Entrepreneurs (THRIVE). The competition is designed to address practical struggles faced by
immigrant entrepreneurs in starting, operating and expanding their businesses in New York City.
In July of 2014, SoBRO was awarded $25,000 in seed funding as one of five finalists in Round I
of Competition THRIVE to launch the United Business Cooperative (UBC), a group of over 40
immigrant restaurant owners in the Bronx and Upper Manhattan. During the pilot phase, White &
Case LLP provided pro bono legal services to help the UBC to form as a legal entity, and SoBRO
helped the UBC to create a business plan, the cornerstone of which is collective purchasing at bulk
rates to realize cost savings for individual members. Over the past six months, SoBRO also
provided technical assistance in the areas of business financial literacy, credit analysis and repair,
and technology upgrades including the use of credit card payment systems. Additionally, a grant
from the U.S. Department of Agriculture has allowed SoBRO to help the UBC examine the
feasibility of increasingly incorporating healthy, locally-sourced produce into menu options. The
$100,000 grand prize will be used to cover one year of office space for the cooperative, a
$25,000 loan fund, and a part-time UBC operations manager.
The cooperative idea emerged after discussions of challenges faced by small immigrant-owned
food retailers in the Bronx who need to comply with ever-increasing government regulations for
restaurants in New York City and have disproportionally high costs for the purchase and delivery
of merchandise and produce when compared to their larger counterparts with stronger
bargaining power. Conversations revealed that the retailers would benefit from joint marketing
and training efforts that include upgrades to technology and workforce skills as well as
regulatory compliance assistance.
The UBC model has a great potential for replication in other sectors that wish to benefit from
economies of scale and in neighborhoods where similarly sized and scoped immigrant businesses
exist, in New York City and nationally. On being selected as the winner of the THRIVE
Competition, SoBRO’s Assistant Vice President of Business Services, Jamila Diaz, said, “Immigrant
restaurant owners have been forgotten as an economic engine of our City for too long. Thanks to
this administration and its support, we now have an opportunity to provide hands-on assistance to
help New Yorkers realize the American dream.”
For more information about the United Business Cooperative, please contact Donna Davis at
[email protected] or 718-732-7524.
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About SoBRO
The South Bronx Overall Economic Development Corporation (SoBRO), is a not-for-profit community organization that has
been serving the Bronx since 1972. SoBRO’s programs include adult education, workforce training, real estate and
community development, technical and financial assistance for businesses, and an array of programs for youth and adults.
SoBRO was established in 1972 to reverse the flight of businesses and jobs from the South Bronx. Recognizing that
rebuilding a community had to be a multifaceted effort – which required replacing vacant lots with businesses and housing,
addressing poverty by creating jobs and training people for those jobs, and insuring a brighter future for the community’s
young people – SoBRO’s programming has expanded over the years to meet the growing needs of this Bronx
community. SoBRO’s menu of services includes:
Programs for youth that combine academic skills and work readiness training with leadership development activities
while exposing them to new ideas and possibilities;
 Job training, basic education, and placement services that prepare low-income, unemployed and underemployed
individuals for the workforce and provide additional services like financial literacy training to help them become selfsufficient;
 Creation of high quality, attractive affordable housing for low and moderate income families and supportive housing for
individuals with special needs;
 Assisting small businesses to grow and prosper, fostering the creation of job opportunities and increasing investment in
the community;
 Commercial revitalization that helps to attract business to commercial corridors and encourages businesses to relocate
to or remain in the Bronx; and
 Urban planning and sustainability initiatives that address environmental and health concerns of the 21st Century.
For additional information about SoBRO, call 718 292-3113 or visit www.sobro.org 