The resolution designates September 14 of each year as "Latino Business Day" in New Jersey, aiming to raise awareness of the significant contributions of Latino-owned businesses 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 underscores the importance of Latino businesses not only as a source of economic growth but also as a means of fostering intergenerational wealth and upward mobility within the Latino community. By commemorating this day, New Jersey aims to acknowledge and celebrate the impact of Latino entrepreneurs on both the local and national economy.