The resolution designates September 14 of each year as Latino Business Day in New Jersey, aiming to raise awareness of the significant contributions that Latino-owned businesses make to the state's economy and communities. It highlights the rapid growth of Latino entrepreneurship, which has outpaced that of white-owned businesses, with a 57 percent growth rate over the past decade compared to just five percent for their non-Latino counterparts. Latino-owned businesses contribute over $800 billion annually to the U.S. economy and are projected to play an increasingly vital role in the labor market, with expectations that they will represent 20 percent of the national workforce by 2028.

The resolution calls for the Governor to issue an annual proclamation recognizing Latino Business Day and encourages public officials and citizens to observe the day with appropriate activities and programs. This initiative not only acknowledges the economic impact of Latino businesses, which employ millions and generate substantial revenue, but also emphasizes their role in fostering intergenerational wealth and upward mobility within the Latino community. By designating this day, New Jersey aims to celebrate and support the growth of Latino entrepreneurship and its positive effects on the broader economy.