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THE

INTERVIEW
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Q&As with some of the biggest influencers in the state:

People you know — and people you should know.
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ROI-NJ.COM December 17, 2018
Newark’s (next) big opportunity
National study concludes city is one of 10 best places in U.S. for Opportunity Zone investment
A
fter it was over — after Newark learned it was not
going to get a part of Amazon’s second headquarters
(and the way things are going in Long Island City,
we’re still not convinced the game is actually over) — the
biggest question for Newark was simple: Will there ever be
another big opportunity?
The answer not only is a resounding, “Yes.” It appears it
already has arrived.
The LOCUS National Opportunity
Zone Ranking Report concluded that the
Opportunity Zone tract in downtown
Newark is one of the seven best in the
country for Smart Growth Potential.
That’s one of the seven best of the
nearly 8,000 tracts the study group
analyzed.
If the Opportunity Zone program is what many believe it
to be — a program in which nearly $6 trillion in capital gains
can be reinvested with substantial tax benefits — Newark
appears to be in position to capitalize as well as any other area.
And it’s in position for two big reasons other areas
cannot easily copy.
For starters, the study made it clear how few of the
available tracts are worth investing in: Fewer than 2 percent,
the authors said.
Then there’s the aggressive leadership of Ras Baraka.
The mayor is making sure the city is ready.
“We’ve already assembled teams in the city of Newark
that are going to be targeting those
tracts,” he said. “Teams that consist
of planners, project managers and
developers in those areas (will)
begin taking inventory of all the
abandoned property, abandoned
land, the rents, everything that’s
going on in that area.
“We look at this as an
incredible opportunity for the city
to jumpstart a lot of development in areas where we have had
no development. We have a heavy industrial area around the
airport that we also tagged as an Opportunity Zone because
we want to encourage the kind of advanced manufacturing
and development or job creation and growth in that area as
well to help our residents get high-paying jobs.”
That social connection is key.
The report also ranked tracts based on their social
impact — or, better said, the ability of an area to handle
investment properly and to the benefit (not detriment) of its
residents.
Newark fared even better in that ranking, coming in at
No. 4 nationally.
Being able to land investment and actually landing it, are
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ROI-NJ RETURN ON INFORMATION-NEW JERSEY
Editor’s Desk
two different things. Newark learned that with Amazon.
That’s why Baraka is being even more proactive. He said
the city is in the process of creating
a database for potential investors.
“We’ve also assembled all of
the development projects in our
census tract areas and we are
in the process of making them
available digitally for the public
and for developers … so they
can have easy access to what the
development projects are, how to
get involved in those projects and what the city’s ideas are
about what development should look like in those areas,” he
said.
“We also have established local policy … an inclusionary
zoning ordinance that requires a certain level of affordability.
We’ve established a stronger rent control law. We’ve also
established right to counsel, particularly in those areas
have begun to do some land trust or banking that assemble
parcels of land together, so we can begin preparing the way
for projects that we think are necessary and will be beneficial
to the residents of this community (can get done) quickly.”
Newark, simply put, is eager to take advantage of its
latest opportunity.
— Tom Bergeron
ROI-NJ RETURN ON INFORMATION-NEW JERSEY December 17, 2018 ROI-NJ.COM

The Interview Issue: Barry Ostrowsky

Health + caring
His industry is changing, and Ostrowsky is making sure RWJBarnabas changes for the best

Barry Ostrowsky, CEO, RWJBarnabas Health. —

­ FILE PHOTO

BY ANJALEE KHEMLANI
akhemlani@roi-nj.com

R
WJBarnabas Health has gone through a significant growth
spurt in the last two years.
Opening new facilities and renovating others are just some of the changes. There
also was the merger of two prominent health systems, opening the door to a new
partnership with Rutgers Health.
But, behind the various moves, rather than a focus on size and prominence, the health
system has touted its local efforts.
“Typically, the mission speaks to health care services and education and perhaps research,”
RWJBH CEO Barry Ostrowsky said.
“We decided that we shouldn’t be in that health care business. We should be in the health

4
ROI-NJ.COM December 17, 2018
business. So, what does that mean? If we’re
going to be judged … it’s going to have to be
on the basis of what we’ve done to improve
the health of the community.”
RWJBH is one of the two largest health
care systems in the state by far. Navigating
the behemoth organization requires skill and
patience.
Ostrowsky recently sat down with ROI-
NJ to discuss the future of RWJBarnabas
Health and how he envisions the future of
health care, even as his competitors and
peers pursue different avenues.
ROI-NJ: Many of the hospitals in the state are
Name pursuing innovation, research or specialty
Barry Ostrowsky services. What are some of the key focuses for
RWJBarnabas Health?
Position Barry Ostrowsky: Once upon a time in our
CEO world, health care systems had assumed
that the way you made people healthier is
Organization you hospitalized them or you did surgery
RWJBarnabas Health on them. But everything was linked to some
health care service that you provided. That’s
Type of business wrong. What has been determined (is this):
Health care system Those who have studied the health of the
community have concluded that health is
Location typically generated 10 percent by genetics, 30
West Orange percent by what we do (in a hospital) and 60
percent-plus by social determinants.
Date founded
2016 ROI: ‘Social determinants’ is certainly one of the
newest buzzwords in the industry, increasingly
Financial goals related to population health. Why focus on this?
Not disclosed BO: To try to pick an example, if you’re going
to live in infested housing with no ventilation
Website and no heat and no air conditioning, the
rwjbh.org chance of you being healthy is almost zero.
Now, I don’t care how many times we operate
Phone number on you or how many visits you make to the
973-322-5000 emergency room, you keep going back to
that shelter, you’re going to be sick. So, what
is the relative value of having the world’s best
MRI versus having good shelter?
I certainly was, and I think the
overwhelming majority of my colleagues
here have been convinced, that, if we’re
going to be true to what we want to see
happen, which is a healthier community, we
better start paying attention to these social
determinants. Even though that was never
what health care systems did, and even
though there’s no code in Medicare for that
or Blue Cross doesn’t reimburse for that.
I don’t know why Medicare doesn’t pay
us to do certain things that everybody is
convinced will keep people healthy because,
eventually, they ended up paying for people
when they get sick.
ROI: But taking on these types of projects without
the reimbursement for it means you are eating
away at your margin, right? Why do that?
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ROI-NJ RETURN ON INFORMATION-NEW JERSEY
BO: I think a Medicare program will
ultimately be there. I think the Medicaid
program will ultimately too, but that could
be 15 years from now. But we’ve decided
we’re going to build the intellectual capacity
to understand (the value of understanding
social determinants), and we’re going to
build the business infrastructure to do that,
even before there are discrete reimbursement
programs to pay us for doing well.
I read an article recently that suicide
is killing more people than diabetes. So,
obviously there’s something in society here
that is not stopping people from making that
awful choice. It’s not like it’s something new;
it’s gone on for a long time. So, behavioral
health, which clearly is critical, generally has
been treated as an afterthought. But if you’re
going to take custody of the community,
then, among the things that you have to
consider is how behavioral health is going
to impact the health of the community. I
think eventually we are going to take this
commitment of ours, and we’ll show results,
and then the entire macro health care system
is ultimately going to insist we do that.
ROI: What does population health mean to
you?
BO: I have my own definition of population
health. Ultimately, if we’re going to be
successful in population health, we’re going
to have to have the notion that we have
custody of you. Custody sometimes implies
some condescending relationship. You know,
you have a child and you have custody of the
child. I don’t mean it in that sense. What I
mean is we have to have an interest in you as
a person and be responsible for your health
and your daily set of activities to ensure that
you have good health.
That, to me, is population health. You’re
going to manage populations. You’re going
to say, ‘It’s my job to know as much as I could
possibly know about you,’ and to make sure
that, as you conduct your life, I’m able to advise
you on how to stay healthy and recover quickly,
so that you’ll have a happier and healthier life.
ROI: Let’s switch over to the business side of the
industry in the more traditional sense. What
are your thoughts on diversification of revenue
sources for health systems?
BO: GE decided to sell its health care
business. I can’t tell you how many hundreds
of millions of dollars we spent with GE over
the years. If we were the company and size
that I’d like to be, I would have to said to our
investment banker, ‘See what they want for it.’
But we don’t have the capacity to do that.
(Here’s a hypothetical): If J&J next year
sells a division, and it (involves) health care,
we are a health care company. If they think
it’s too insignificant to concentrate on, maybe
it’s a good idea for us. And if that company,
after we get done paying for it, creates a 10
percent bottom line, what a great subsidy it
would be for all the stuff we are doing. So,
the diversification of a company our size into
related fields may be a far better thing for us
to do with money that we have, because that
ongoing flow of profitability will propel us as
we continue to fulfill our mission.
ROI: You don’t seem to be concerned about
aligning yourself with major brands. Joining
with Rutgers appears to be an avenue to join
the Big Ten cancer consortium. What’s the
strategy there?
BO: We know the recipe. It’s high-quality
education, good research, accessibility to
services, investment and social determinants.
I mean, that’s the recipe to effectively make
your community well. Now, I don’t cook
much, so I don’t know, but if (a recipe) calls
for some ingredient, there’s a brand you can
buy or (a generic). So, the question is: Does it
make a different cake?
In order for us to be successful, when
we look at those ingredients, does it require
that we pay Mayo Clinic $10 million a year to
put a decal on that ingredient. I don’t know.
I wouldn’t hesitate to do it if I was convinced
that it qualitatively made the recipe better,
but if it doesn’t make the recipe better, then
I don’t know that it’s necessary.
ROI: So, you think the Big Ten decal for cancer
care is that strong?
BO: I happen to love sports and I played
football for my alma mater, Rutgers. I don’t
understand why no one talks about the Big Ten
cancer consortium. You have Northwestern
and Michigan, which is in a class of its own in
medical research, Ohio State, Illinois. You’re
talking about Wisconsin, big-time medical
facilities that are known to be great, and
Rutgers. That was a good enough reason to
join the Big Ten, to tell you the truth.
The intellectual property that we’re
swapping and that we’re collaborating on,
such as precision medicine, that is very much
the future.
ROI: Last question: How will this connection
help the Rutgers Cancer Institute of New Jersey
grow as a brand?
BO: There is no, I emphasize no, cancer
institute in the United States that has a
precision medicine program that’s better
than the Cancer Institute of New Jersey, and
I invite you to do due diligence on that. That’s
how good that place is.
So, part of what we’re going to do is we’re
going to make that brand as well known.
twitter: @anjkhem
ROI-NJ RETURN ON INFORMATION-NEW JERSEY December 17, 2018 ROI-NJ.COM

The Interview Issue: Aisha Glover

Warrior woman
Glover led Newark’s quest for Amazon’s HQ2, helping its reputation reach unprecedented heights

Aisha Glover recently left the Newark CEDC to head up the Newark Alliance. — NEWARK ALLIANCE

BY TOM BERGERON
tbergeron@roi-nj.com

P
eople around Newark knew all about Aisha Glover, the smart,
hard-working, well-spoken leader of the Newark Community
Economic Development Corp.
Then, Amazon announced it was looking for a second headquarters — and, soon
after, that Newark was one of 20 finalists for the project that promised billions of dollars in
investment and tens of thousands of jobs. Glover, the woman overseeing the city’s bid, suddenly
was in the spotlight. And she shined.
In the end, Newark was not selected for HQ2, but Glover earned rave reviews. Last month,
she made the jump to head the Newark Alliance, a nonprofit committed to leading the city to
greater heights.

6
ROI-NJ.COM December 17, 2018
ROI-NJ recently caught up with Glover
to get her thoughts on Amazon, Newark and
making the move to the Alliance.
ROI-NJ: Let’s talk about your move to the
Newark Alliance. Why did you make the
move there after being so influential as the
head of the Newark CEDC?
Aisha Glover: The move was very intentional,
very strategic and very thoughtful, both on the
part of the mayor and the private and corporate
community. I spent the last 14 months
working very closely with nearly every major
corporation and anchor in the city of Newark
on the Amazon HQ2 bid. Through that
Name process, I got to understand the personalities
Aisha Glover on a different level. It was a level of intimacy
and collaboration that had not previously
Position existed between the public and the private
CEO and president sector. The momentum was unbelievable: To
have everyone highly responsive at any time
Organization of day for more than a year showed me that
Newark Alliance they are ridiculously committed to the city of
Newark and they want us to move it forward
Type of business as much as possible. I found everybody is
Nonprofit coming at this from a genuine place of, ‘How
do we make Newark a better, stronger, more
Location vibrant and more equitable city?’
Newark Throughout that process, I also realized
how much the Alliance was operating separate
Date founded and apart from the mayor’s office. It became
1999 abundantly obvious that it was a missed
opportunity. Individually, the members are
Financial goals extremely powerful, influential and doing
Not disclosed great economic and social impact work on
their own, but collectively the power of the
Website Alliance was not being maximized. I said,
newark-alliance.org ‘How do we actually maximize economic
development?’ We can’t do that separate and
Phone number apart from the private sector. We just can’t.
973-596-6400 So, this was (a) very strategic, very thoughtful
and very purposeful idea to bring the Alliance
and the corporate and anchor community
into the fold, to make sure that those efforts
are coordinated with the broader economic
development strategy.
ROI: How does the move happen? Do you
approach them, do they approach you?
AG: It starts with rumbles and quick mentions
and things said in passing. And then it becomes
a request. At that time, I had a very open and
frank conversation with Mayor (Ras Baraka).
The vision is this: How can we create this
economic development trifecta in the city of
Newark between the mayor’s office, including
economic, housing and development;
Newark CEDC; and the Newark Alliance?
The potential is undeniable. I will still go to all
the weekly meetings with the mayor, I’ll still
go to the Economic & Housing Development
Department meetings, I’ll still be meticulously
engaged at the city level. I have to be, otherwise
7
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
the Alliance is going to continue to act as a
silo. There will be a strategic and purposeful
effort to bridge everyone together, and I’m
the person that is going to do that, both at
the city level and then also by improving the
communication and coordination at the state
level with both Choose New Jersey and the
(Economic Development Authority).
ROI: Let’s talk about your time at Newark
CEDC. How were you able to accomplish so
much in three years — and what is on the wish
list that you weren’t able to get done?
AG: It was a perfect time to be at the CEDC.
When I first joined, three years ago, we were
at the beginning of conceiving many projects
or just starting to finalize things; Mulberry
Commons is a great example. The fact we were
able to do so many groundbreakings and be
at the front end of some major projects that
had been sitting dormant for years — some
over a decade — was just really inspiring. We
were able to use that momentum to leverage
other investments, smaller developments
that wanted to come in, not just downtown,
but in the wards as well.
As to what I’m missing out on, what’s
beautiful is I know that I’m going to feel the
same way in one or two or three years as I
did, as I do now, when I look at what’s going
on at the Brooklyn Navy Yard. I look at all the
major things that are finally opened or about
to open or just recently opened and I’m like,
‘Oh, I worked on that deal.’
ROI: You mentioned the Navy Yard. Many in
New Jersey may only know you for your work
in Newark. Give us a tour of your life prior to
coming here.
AG: When I went to grad school to get my
(Master of Public Administration) from
Baruch (College), I knew I wanted to work at a
nonprofit. My first job was at New York City’s
largest provider of environmental education
programs. I ran public affairs and development.
I did fundraising, their public affairs outreach,
government affairs and community relations.
I was there for about six years. What drew
me there was their environmental justice lens
and really thinking about the development
of a talent pipeline that was more civically
engaged and environmentally savvy. I felt
that was particularly important in an urban
environment.
Through them, I began working with
the Brooklyn Navy Yard on one of their
development sites. They wanted to be a lot more
thoughtful and sensitive to the surrounding
communities and have a little bit of a
sustainability lens. So, given my background
in environmental education, they brought
me on board as the director of public affairs
CONTINUED ON PAGE 8
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
The Interview Issue: Aisha Glover
CONTINUED FROM PAGE 7
to really think about public programming,
public outreach and engagement, with a focus
on dealing with some of the sensitivities of
the impact an industrial park can have on its
surrounding communities.
ROI: How did that job prepare you for Newark?
AG: My role there grew quickly and expanded
extensively. I was doing a lot of business
engagement, providing technical assistance
and support services. I was critical in
overseeing the on-site employment center. I
was working with all of the local officials, the
community, both inside the yard — there were
7,000 people working in the Navy Yard — as
well as the surrounding community. And,
because of that outreach and engagement
with businesses, I was really focused on
entrepreneurship and business development:
How can we grow and scale these businesses
in a smart and environmentally sound way,
getting them access to grants and funding
8
opportunities so they can be more efficient as
well as helping them to recruit locally?
There was a range of responsibilities, but
it was really kind of a microcosm of a small
city. It’s 300 acres on the waterfront, off the
grid, but city-owned property. We had free
reign to create a mini-city that we wanted,
so there was a lot of intersection and overlap
between the community and environmental-
supporting businesses. In many respects, it
was like a really-smaller-scale version of the
city of Newark.
December 17, 2018 ROI-NJ.COM
I had my eye on Newark; I had been
living in Jersey for six years. And I just
started networking, reaching out to people
and going to events. The rest is history.
ROI: So, you come to Newark — and then
you quickly get tasked with helping to bring
Amazon to the city. Talk about the process.
AG: I knew that we’d apply, but I didn’t
understand how big a deal it could be until we
really started digging in. I had people call me
across that country, calling me, saying, ‘You
guys need to apply for this, Newark needs to
win.’ And there was such a frenzy and such
an outpouring of energy here because of the
supposed promise of this opportunity. That
was our driver. And as the community really
started to come together in support of this, I
started to understand what a game-changer
it could be.
ROI: So, let’s go more in-depth. You’re known
as someone who never sleeps. How did you
find more hours in the day to handle the
Newark bid along with the already heavy load
of projects you already had?
AG: There were two reasons why this was
possible. One, we had an amazing committee of
corporations and anchors who dedicated time,
energy and resources. I had more than a dozen
working groups. There was transportation,
there was talent, there was lifestyle, quality of
life. I had writers, people cranking out and
doing several drafts. The committee structure
worked well. That’s the only reason why you
hear so many people giving us accolades.
My job was just wrangling so many different
groups. Let’s be clear; Aisha Glover did not
do this proposal on the weekend and in her
free time. This was a team effort. This was a
community that really came together.
On the flip side of that, everything that
was in the pipeline, everything that was up in
Newark CEDC purview already, stayed with
Newark CEDC. Other than George Santos,
who is my right hand, I did not pull on any
Newark CEDC staff. That was intentional. It
was critical that I was able to rely on Carmelo
Garcia and the staff of Newark CEDC to kind
of keep doing their jobs while I pulled on our
committee structure. Again, a total team effort.
ROI: One last question. You are a talented,
smart, hardworking, well-spoken leader,
well versed in the worlds of business and
politics, social justice and equality, urban and
statewide issues. You’re also a woman and
a person of color. The city, the state and the
country are looking for leaders like that. Does
political office appeal to you?
AG: (Laughing). Let me be careful what I say,
because I don’t want to curse in print: ‘Not
at all.’ I will support all of the public officials,
but I don’t have any interest in joining them.
twitter: @tombergeron5
ROI-NJ RETURN ON INFORMATION-NEW JERSEY December 17, 2018 ROI-NJ.COM

The Interview Issue: Jason Pierson

Reading retail
Pierson offers insider’s take on retail real estate, from rise of experiential to remaking of big boxes

Jason Pierson, head of real estate firm Pierson Commercial. — KEITH MUCCILLI

BY TOM BERGERON
tbergeron@roi-nj.com

R
etail is dead. Long live retail.
So, what is the true story?
We went to Jason Pierson, head of Pierson Commercial, to find out.
Pierson, one of the leading retail real estate brokers in the state, has had great
success since launching his Marlboro-based firm in 2011. He said he does most of his business
in central and northern New Jersey, representing both some of the biggest real estate investment
trusts in the state — looking to attract retailers — and more than a dozen national retailers —
looking for their next locations.
Pierson is confident retail is strong. And he sees no reason that might change anytime
soon. Especially in New Jersey.

10
ROI-NJ.COM December 17, 2018
ROI-NJ caught up with him recently to
find out why.
ROI-NJ: OK, let’s start with the money question:
Is retail dead?
Jason Pierson: I think retail is very strong,
especially in New Jersey. We are one of the
most densely populated states, per capita,
and the third-wealthiest. If anything, there’s a
lack of inventory here. Sales volumes are very
high, and they exceed people’s expectations.
Certain markets are the triggers, and that’s
where retailers initially look, but, over time,
as they reach a saturation point, retailers start
looking at the secondary and tertiary markets.
Name
Jason Pierson ROI: Give us four or five places that are the hot
spots for retail right now?
Position JP: The hottest is Paramus. It’s always the most
President interesting and the most desirable market for
retailers. Clifton is up there, as well. Route 1
Organization Edison and Route 18 East Brunswick are very
Pierson Commercial highly desirable areas with very low inventory,
too. If something comes available, it goes very
Type of business quickly. And I would say the Parsippany-
Commercial real estate brokerage Morris Plains market has been very hot as well.
Location ROI: What type of retail space is moving the most?
Marlboro JP: It’s all types. The boxes that are opening
up and are getting absorbed. We have smaller
Date founded shopping centers and regional shopping
2011 centers with local mom-and-pops that have
very high occupancy rates. And then there’s
Financial goals new residential mixed-use developments
Not disclosed that are under construction. So, in general,
I think that there’s a lack of inventory and a
Website lot of demand.
piersonre.com
ROI: So, why the narrative?
Phone number JP: The general public is just not aware. The
732-707-6900 news might be portraying some place in
the Midwest, where there is one Sears that
services people from 30 to 50 miles away
and that Sears is closing. But that’s not New
Jersey. They don’t have the population, they
don’t have the income levels that we have.
Consider this: Right now, retail shopping
is 90 percent brick-and-mortar and 10 percent
online.
ROI: Yes, but we’re so crowded, who wants to
go out?
JP: The one thing I notice here in New Jersey,
just being a resident and having a family, is that
there’s a lack of things to do when the weather
is bad. So, you look for indoor places to go to.
Experiential retail is real; it is what people want
to do. They want to go to the jumpy houses,
they want to go to indoor miniature golf, they
want to go to the movies. So, a lot of these places
are expanding. And then there are things that
you can’t acquire online that you can get in a
physical store. You can’t touch it, feel it, and
11
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
people still like to have that experience.
ROI: You mention experiential, or destination
retail. Let’s talk about American Dream, the
massive project going up in the Meadowlands.
(Pierson is not the broker.) It sounds as if you
think it’s going to be a huge hit, yes?
JP: I do. I think that it has a stigma of a project
that just couldn’t get off the ground. And, for
the average person that’s not affiliated with
the retail and commercial real estate world,
they have no idea what’s going on. But,
anytime I mention it to anybody, they have
no idea that it is still progressing and opening
up within the next year and a half or so.
And, when I discuss the different, family-
fun, experiential type of operators that are
opening up there, they get excited. There’s
nothing like it.
ROI: We know the details: the ski slope, the
skating rink, the roller-coaster — and more
stores than can be imagined. But why would
people leave their current retailers to go there?
JP: You can’t think of it that way. I think it’s
going to be more of an experience and a
vacation than it’s going to be a one-day stay.
And not just residents in New Jersey and
New York. I think you’re going to find people
from all over the country and internationally
going there. When international travelers
come to New York, they’re looking for things
to do outside of the city.
ROI: Let’s turn to something that there are plenty
of: mixed-use projects. It seems to be every
project now. Is there still a market for that?
JP: It depends on what the retail is there for.
Traditionally, you want to have amenity-
filled retailers that service the building. You
don’t want to over-retail it. You don’t want
40,000 square feet at the base of the building
that is 50 units of residential.
I typically view these not as profit centers
for the development, but an amenity. A lot of
approvals will require some sort of retail and
some more retail than there is demand. This is
where some municipalities don’t understand
the retail and the real estate aspect of it.
You can’t just put 50,000 square feet of retail
and then explain what they want — Starbucks
and this and that — it’s just not realistic.
ROI: You mentioned a lack of understanding.
That gives us an opportunity to talk about the
literally hundreds of planning boards in the
state, most of which are filled by local residents
who do not have a development background.
What would be your message to them?
JP: I think there should be requirements for
them to go through an urban planning and
a real estate development course. You do
have a lot of people on these boards that just
do not understand the business aspect or
understand the drivers behind a retailer.
They might say, ‘We want Starbucks.’ But
Starbucks requires a drive-thru or Starbucks
might have one up the road, or it may be a
market that just doesn’t support another
Starbucks. It could be the demographics or
how the access might be, or the parking and so
on and so forth. So, they need to understand
how things work from a retailer’s perspective.
ROI: You talked about having certain access.
Let’s talk about having access for a drive-
thru. We’ve heard that’s now an essential
requirement for some retailers. Is that true?
JP: With certain tenants, it’s an absolute
requirement. Drive-thrus can drive a
tremendous amount of revenue to the
bottom line. And think about how many
days that we have of inclement weather here.
I would venture to say that there’s probably
at least 100 days throughout the year that is
either raining, snowing or so cold that you
don’t want to get out of your car and go into
someplace. That’s almost a third of the year.
And then there are the people with kids.
Sometimes, it’s just such a pain to get them
out of the car. It’s just easier. And retailers
have gotten a lot quicker with computers and
training that the wait times are a lot quicker
than it used to be.
ROI: The way it used to be: That would describe
the big retail anchors at the mall. The ones,
such as Sears, which are going bankrupt. What
is that impact?
JP: A lot of the mall developers are excited about
getting some of these big boxes back, like a Sears
or a Kmart, because they hadn’t reinvested in
the space and they were not bringing traffic
into the mall or shopping centers. They want to
have foot traffic and a vibrant shopping center,
because that helps the other retailers and the
co-tenants within a shopping center. If you
can bring somebody in that brings in people
and excitement, that’s going to improve the
profitability for everybody in the center.
ROI: Last question: The future — how do you
see it evolving?
JP: I think the car and delivery services are
going to have a huge impact on retail. You’re
starting to see the retailers get creative and
having another extension of how they sell
the products, where they’re bringing the
products to you and not just depending on
you coming into the physical location.
I think you’re going to see more and more
of that. And, while location is important,
it might not always be as important as the
product and the services that are provided
moving forward.
twitter: @tombergeron5
ROI-NJ RETURN ON INFORMATION-NEW JERSEY December 17, 2018 ROI-NJ.COM

The Interview Issue: Sheila Oliver

Trenton savvy
Lieutenant governor is bringing voice of experience to new role in new administration

Sheila Oliver, lieutenant governor and head of the Department of Community Affairs. — STATE OF NEW JERSEY

BY ANJALEE KHEMLANI
akhemlani@roi-nj.com

W
hen then-gubernatorial candidate Phil Murphy selected
Sheila Oliver to be his running mate, he picked one of
the best-known and most highly respected politicians
in the state.
And, as an Essex County power player and former Assembly Speaker, Oliver had the
skillset to work with the governor in many capacities.
But, how would she?
The duties of the lieutenant governor are undefined and up to the candidates to determine.
After being elected, Murphy tabbed Oliver to lead the Department of Community Affairs
and serve as a key official in the state’s oversight of Atlantic City, among other duties.

12
ROI-NJ.COM December 17, 2018
Oliver recently sat down with ROI-
NJ to discuss the past year in her new role,
reflecting on a range of issues, as well as
discussing her goals for the DCA.
ROI-NJ: Let’s start at the top: Why did you
choose the DCA?
Sheila Oliver: It’s reflective of every job
I’ve ever had in my entire life. When I got
out of graduate school, I went to work for
the city of Newark. I was the director of the
office of services and special projects, so all
the federal funds that came into Newark to
Name serve the population — it was my office that
Sheila Oliver developed the model of the program. I ran a
nonprofit that had Head Start programs and
Position early childhood education. (In) all of that
Lieutenant governor of New Jersey; experience, I was on the receiving end of
Commissioner of the Department dealing with governmental entities. So, I know
of Community Affairs the ins and outs and know the experience of
that. Everything I do in DCA is exactly what
Organization I’ve done my entire career.
State of New Jersey
ROI: What about the agency are you focused
Type of business on changing?
Government SO: I don’t feel it’s been transparent enough
to let folks know there are opportunities to
Location secure resources and assets to do community
Trenton development. It isn’t just this inner circle
of folks who have always been funded,
Date founded who have access to this information. That’s
Office created in 2009-10 something I definitely wasn’t pleased with
when I first walked in the door.
Financial goals
Not disclosed ROI: What is the strategy to change this?
SO: One of the things I have prioritized in my
Website department is what I call culture-busting,
nj.gov because cultures get established within
governmental agencies. I’ve challenged
Phone number managers and division directors in my own
609-292-6000 department.
(I say), ‘You’re up here making major policy
decisions about funding, tax credit programs,
neighborhood development, housing, and you
do it based on paper that people send in. Some of
you haven’t got a clue what these neighborhoods
look like that you’re making evaluations about.
You don’t know what else is going on. Are you
asking the right questions when you come to
me with these recommendations? Have you
asked for the IRS (Form) 99, so you know the
financial health of this organization? Have
you asked this organization to identify other
sources of funds, so you know financially can
they do this project?’
So, the one thing I want to change is the
way we solicit requests for proposals.
ROI: Let’s talk about the makeup of the agency.
There is generally a push at the top levels of
government for more diversity. Is there a need
to do the same at DCA?
SO: What I’m trying to do is build a bench
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ROI-NJ RETURN ON INFORMATION-NEW JERSEY
of future leadership. We’ve got a lot of folks
in my department who are going to be
transitioning out of these positions. There is
a new generation of public policy leadership,
governmental administrative types, and they
need to be given opportunities to play major
roles, so that, subsequently, they can rise up
through the state government system. That is
something I feel that I have started. I do believe
we need a mix of some of the more seasoned
veterans in government, but we need to create
space to develop the next generation.
ROI: Let’s turn to you specifically. How has
your past life in the Legislature helped with
your current role?
SO: I think because I know all 40 legislative
districts — and I made that commitment as
speaker — I know the geography, I know the
towns, I know the personalities of the towns
and the people and the civic leaders. So, I
think coming in as a lieutenant governor
and as a commissioner working with the
cabinet, I’m able to give the cabinet members
and the Governor’s Office insight into New
Jersey. (With entities and individuals outside
Trenton), they do want to come to me with
their issues because they know I know, and
I understand it. They think articulating it
to me, I then become the spokesperson for
their issue in the broader administration.
ROI: Speaking of experience in Trenton, let’s
talk about the budget battle the governor faced
this year from your perspective. Unlike most
of the administration, you had been through it
many times. What was that like?
SO: I think it was very interesting for me to
be a participant observer, because I know
the legislative side of it. And now I’m in
this administration. And something I know
about the Senate president (is that) he likes
to negotiate. It’s sort of like he created the
program, ‘Let’s Make A Deal.’
What I knew is that he likes that give and
take. I think we were a new administration,
with a new treasurer — even though a lot of
the members of the treasurer’s office have been
around for a long time, but I think the new
folks in the Governor’s Office, many of them
had never worked in government before. And I
don’t think they had internalized that, to get to a
budget, you have got to get through these guys.
ROI: The governor is pushing hard for a $15
minimum wage by the end of this year; what
are your thoughts on that?
SO: I was the sponsor of our current minimum
wage law, and I was not pleased with the
minimum wage law that we implemented.
But I had to suck it up. That’s what we could
get at the time from (then-Gov.) Chris
Christie and the Senate. I think Gov. Murphy
is on target to prioritize this as a major part
of his agenda. The Legislature is still trying
to work through the impact on business, but
I think it is a moral obligation we have in
this state to raise the minimum wage to $15,
(especially) if it can be done in other states
and businesses don’t run out the door.
I am ‘Team $15 an Hour,’ but I also
understand the impact it will have on small-
and medium-sized businesses, so I think it
will have to happen over time. And then the
whole debate about the carveouts. When I was
in the Legislature and the whole conversation
about carving out agricultural workers came
up, I did some undercover visits. I went and
I visited farm workers in the southern part of
the state. I believe their work is as hard and
difficult as any other job, and I do not favor a
carveout of farm workers. I also view that as a
discriminatory piece, because we know a lot
of our farm workers are Hispanic and Latino
and they do a lot of back-breaking work.
ROI: What about cannabis? A major campaign
promise that remains unfulfilled is legalization
of recreational marijuana. It looks like
there was some significant movement and
conversation, but, again, it looks like there
will be a delay. What are your thoughts on the
various pieces, including social justice reform?
SO: OK, first of all, people are smoking
marijuana. They’ve been doing it since time
began. I think what we have to grapple with
are the public safety concerns. You will hear,
‘We are going to have people driving under
the influence.’ They are driving under the
influence of weed now. Alcohol is probably
a worse impairment than marijuana or
cannabis is. The thought that it will socially
corrupt neighborhoods, there is weed being
sold in neighborhoods now.
So, I think those arguments have to be taken
off the table. During my years in the Legislature,
there were some years I was ambivalent, some
years I was for it and some years I was against it.
What I do believe though, is that the argument
put forth by (Assemblyman) Jamel Holley, Sen.
(Ronald) Rice and others, like Sen. Nia Gill,
is that opportunities have to be available for
minorities to participate in this industry. Not
just as jobs in the grow house, but also up in the
executive management of these businesses. I
feel just as strongly as everyone else about that.
ROI: Final question. Let’s move to
government overall, specifically the Murphy
administration. How is it different from
previous administrations?
SO: I think our cabinet consists of folks who
aren’t entrenched in the bureaucracy of
Trenton. I think (they) are looking at things
differently.
twitter: @anjkhem
ROI-NJ.COM December 17, 2018 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

The Interview Issue: Carlos Medina and Luis De La Hoz

Two step
Duo of Medina, De La Hoz are leading Hispanic Chamber to unprecedented growth

Statewide Hispanic Chamber of Commerce of New Jersey Chair Carlos Medina and Vice Chair Luis De La Hoz. — STATEWIDE HISPANIC CHAMBER OF COMMERCE OF NEW JERSEY

BY ANJALEE KHEMLANI
akhemlani@roi-nj.com

H
ispanic-owned businesses are growing at a greater pace
than any other group of businesses in the state. This rapid
hike is matched by the growth of New Jersey’s Hispanic
population. Both statistics are helping to elevate the stature
of the Statewide Hispanic Chamber of Commerce of New Jersey.
Numbers alone, however, are not enough to make it a significant platform. That takes
leadership. And the dynamic duo of Chair Carlos Medina and Vice Chair Luis De La Hoz are
helping to make it happen.
Medina and De La Hoz have come to be known as complementary personalities that have
CONTINUED ON PAGE 16

15
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
The Interview Issue: Carlos Medina and Luis De La Hoz
CONTINUED FROM PAGE 15
invested sleepless nights and their personal
finances into growing the organization into
one of the largest in the state. With more
than 3,500 members representing more
than 119,000 Hispanic businesses in New
Jersey, the chamber now is a force to be
reckoned with.
Medina and De La Hoz recently sat
down with ROI-NJ to talk about the growth
of the organization and the impact the
Hispanic business community is having on
New Jersey.
Name ROI-NJ: What has been the key to success for
Carlos Medina; Luis De La Hoz the Hispanic Chamber in recent years?
Carlos Medina: The business model that
Position we’ve utilized is inviting to businesses because
Chair; Vice chair it’s not necessarily heavy on membership and
driving revenue through memberships. The
Organization superpower of Hispanic business owners
Statewide Hispanic Chamber is that they’re very social. So, we always
of Commerce of New Jersey encourage them to use that superpower,
because they network well. We have that
Type of business advantage. It’s a nice organic growth.
Business organization Luis De La Hoz: We changed the business
model of the regular chamber of commerce.
Location One of the things was social media. We are
Lyndhurst the most active chamber on social media.
But also, usually the business model of the
Date founded chamber of commerce is unidirectional
1989 communication from the chamber to the
members. Every time you get an email from
Financial goals a chamber, they are expecting money from
Not disclosed you. We don’t do that.
We also help startup businesses.
Website
shccnj.org ROI: Some say your success has to do with your
differing personalities and approaches. Do you
Phone number agree?
201-935-0035 LD: I think the reason is because our
personal egos are not invited to the
conversations. I’m not afraid that Carlos
gets the recognition he gets and he’s not
afraid to recognize what I do. I feel that
we are trying to achieve something greater
than ourselves for the entire community.
We may have differences. But I think those
differences are what make us work together.
For me, the fact that when Carlos took the
chamber and agreed to do the job for free
made a difference.
CM: I’d love to have 10 Luises because of his
work ethic and how connected he is to the
community. We do things often backward
— we do events and don’t worry about the
revenue, but know sponsors will come and
revenues will come. It’s a risk that some
business organizations are not willing
to take. Luis’ connections to the smaller
businesses is amazing and we never had
(those businesses) as members. Because the
16
December 17, 2018 ROI-NJ.COM
board members worked at larger companies crowd every time?
and gave us outreach that we never had and, LD: It’s not that someone will call us and say I
frankly, I don’t have. want to do this or that. We have conversations
ROI: Is this a model other chambers can adopt? about why they want this event and ask if
LD: Yes. I was very aggravated because many they consider doing this instead of that,
chambers (used to) call me and say they want (and) what do they expect from us. Usually,
to talk to us and reach the Hispanic market, the conversation gets to the point that we just
and when I go to talk, they say they want want to make sure we talk about goals. If you
me to be a member before we can discuss talk to many of our supporters, we always
anything. I said, ‘You called asking me for overdeliver. If we are not sure that we can
help, but you’re expecting me to become a deliver, we probably won’t commit.
member to help you — that doesn’t make any
sense.’ For that reason, I remember having ROI: With a chairman who didn’t take a salary
a conversation with Carlos to change the for the position, how do you support the efforts
business model. of the chamber?
LD: We have to give credit to our team of
ROI: Gov. Phil Murphy’s new administration volunteers. They get inspired by what we
seems to have significant contact with you and do and want to continue it. That’s another
your members. How has that helped? big change, because they have the spirit to
CM: The administration cares about our change. The work we do cannot only be done
needs and recognizes our value. (The by us. We can have lots of conversations, but
governor) has met with the Latino Taskforce; we can just text or email and things get done.
his office reaches out often. His heart is in We don’t necessarily participate in day-to-
the right place. He appreciates Hispanic day activities. The team also deserves a lot of
businesses. credit for that.
twitter: @anjkhem
ROI: What do you see as the role the chamber
plays overall?
CM: Helping companies that are growing
and starting have greater access to capital.
We need to find connections with lending
institutions and get a fair deal. Also, work
with lending institutions to have financials
differently and take a little bit of risk. Like the
new (Economic Development Authority)
program geared to small businesses. We
want to be the Rolodex, we want to be the
business coach.
ROI: Your events are hits, and with the way you
handle memberships, you draw large crowds.
How do you do that?
LD: I do believe that we changed the way
that a regular chamber looks. And many of
our events are new. The only one that is the
same is our convention in October. But the
Diversity Expo was a new event, the Health
and Wellness is a new event. If you check, out
of our signature events, four are new in the
last 10 years.
If you look around, many of the other
chambers (have been doing) things the
same way for many years. Because we didn’t
have the information or the network when
we arrived, we changed things to places we
know better. The last thing is, we really pay
attention to the data and we read a lot and
pay attention to the reports. We understand
the language of what the business owners
need, and we try really hard to communicate
those needs to the sponsors.
ROI: Is it easy for you to gather such a huge
ROI-NJ RETURN ON INFORMATION-NEW JERSEY December 17, 2018 ROI-NJ.COM

The Interview Issue: Alma DeMetropolis

Feeling bullish
Despite customers’ fears about volatility, JPMorgan’s DeMetropolis sees N.J. as growth market

Alma DeMetropolis, managing director and market manager, J.P. Morgan Private Bank in Summit. — KEITH MUCCILLI

BY MEG FRY
mfry@roi-nj.com

A
lma DeMetropolis said she gets asked one question more
often than others:
“ ‘Is the growth cycle over?’ ” she said. “Volatility in the
marketplace tends to be top of mind for people right now.”
Though higher volatility is expected, DeMetropolis, managing director and market
manager for J.P. Morgan Private Bank in Summit, said a recession is unlikely.
“Given all the market research we do, we do not think we will have a major pullback of any
kind,” she said. “There is no massive bubble to be truly worried about.”
What concerns DeMetropolis today, she said, is helping JPMorgan Chase solidify its
presence in a state that she and her company have identified as a massive growth market, with

18
ROI-NJ.COM December 17, 2018
the company adding 50 more branches in
New Jersey over the next couple of years.
“We are all-hands-on-deck here,” she said.
ROI-NJ: You’ve worked in nearly two dozen
cities on three continents during your more
than 26-year career at JPMorgan Chase, but
have been strategically focused on New Jersey
since 2003, advising high net worth individuals,
families, endowments and foundations on a
broad range of wealth matters and managing
investment portfolios. How have you and your
firm grown within the state?
Alma DeMetropolis: When J.P. Morgan
Private Bank opened its office in Summit
nearly two years ago, we employed nearly 65.
Name Now, we have nearly 90 employees and there
Alma DeMetropolis are more to come, with space for up to 120.
Combined with the nearly 10,000 employees
Organization in Jersey City and the nearly 1,800 employees
J.P. Morgan Private Bank working across more than 200 branches in
the state, JPMorgan Chase employs more
Type of business than 12,000 New Jersey residents. … We
Finance and wealth management are helping to increase skills training here,
too, in a big way, with organizations such as
Address Rising Tide Capital, New Jersey Community
25 DeForest Ave., Summit Capital, New Jersey Institute of Technology,
New Jersey City University and, of course,
Date founded we continue to support major institutions in
2016 the state such as the New Jersey Performing
Arts Center, Liberty Science Center and
Assets Under Supervision the Community Food Bank of New Jersey.
$42.6 billion … We love being close to our corporate
headquarters across the river in New York
Website City and there is a lot of great talent here that
https://am.jpmorgan.com/private- we will continue to grow with.
bank/public/gl/en/global-offices-
us-new-jersey-summit ROI: Can you tell me more about the Advancing
Cities initiative JPMorgan Chase recently
Phone number launched? Will it have any effect on New Jersey?
908-795-1450 AD: Advancing Cities is a first-of-its-kind
corporate effort to create a new investment
fund that will help finance critical projects,
help more people benefit from economic
growth and leverage outside capital to
hopefully invest a total of $1.5 billion in
various cities. We are going out to the
civic, business and community leaders of
our cities to work in partnership with the
not-for-profit and private sectors to really
advance local economic empowerment. This
five-year initiative will focus on equipping
workers with 21st century job skills,
providing the capital and expertise that
women and minority entrepreneurs need to
grow their businesses, investing in locally-
driven solutions to revitalize distressed
neighborhoods and helping families build
stronger financial futures. … Though it
has not yet been decided if any New Jersey
cities will benefit, the model has been
proven in cities such as Detroit, Chicago
and Washington, D.C., in which we combine
19
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
our lending and philanthropic capital as well
as our firm’s expertise, to make impactful
investments. From a corporate responsibility
perspective, we continue to try and live,
breathe and work in our markets.
ROI: What financial advice do you provide
most often for New Jersey residents?
AD: Financial markets can offer a great
opportunity to grow wealth, but volatility can
make investors uneasy, ushering in feelings
of fear. Reacting to market movements may
sometimes seem like the right thing to do for
the short term — but research suggests that
this approach actually diminishes returns,
especially when, nearly 75 percent of the time,
a pullback of nearly 14 percent occurs annually.
… So, while it can be tempting to allow short-
term market movements and large-font news
headlines to drive your decisions, both our
real-world experience and research suggest
that can actually work against investors.
ROI: What might happen to investors if they
did, in fact, react too quickly?
AD: In the last 20 years, six of the 10 best days
occurred within two weeks of the 10 worst
days. And, if you missed the 10 best days in the
market over the last 40 years, your annualized
return has dropped by nearly half. … For
example, people are made nervous by the
financial crisis of nearly a decade ago, because,
looking at 2008, at one point, the market was
down close to 50 to 60 percent. But, if you stuck
it out, you actually fully recovered within three
years. … You can’t really market-time, and, for
people who are investors, you do have to take a
long-term view and ride out the waves.
ROI: How much does your financial advice differ
for those in various stages of their life cycle?
AD: It’s difficult to think about one’s financial
goals in time frames of five, 10, 30 years, but
putting them down to paper and thinking
about it as more of a quantitative concept rather
than qualitative is an important skill, especially
when testing them out for both good and
tough markets. Then it is all about having the
discipline to stay on track and weave those into
a future plan. … It’s important these behaviors
are put in place early on, whether that be
budgeting, risk management or investing,
because these skills will be critical for outcomes
later on in life. That is why J.P. Morgan Private
Bank recently published ‘Teaching Your
Children About Wealth,’ a guide filled with
exercises that families can complete with
their children from preschool through early
adulthood, from piggy bank savings and first
chores to philanthropic engagement, insurance
and investment portfolios. … Our JPMorgan
Chase Institute also just recently launched a
paper that showed health care spending across
America has increased by nearly 8 percent
annually. So, as people approach retirement,
I really think they need to do the hard work
of understanding their budgets and their
spending patterns. Some of the old rules of
using just 3 or 4 percent of their monies may
not apply anymore.
ROI: How about for the dynamic group of
family-run businesses in New Jersey? What
sort of financial advice do you typically
provide them?
AD: As they grow, evolve and are passed
on to the next generation, their business
models and investment strategies change.
For example, we’re in the longest expansion
of the post-war era, and many are wondering
if recent market volatility is signaling the
end of this cycle. Now that we are in this
expansion, New Jersey business owners are
more seriously considering a liquidity event
or a sale. Every business owner has their
number in mind — the amount that will
let them adequately plan for their lifestyle,
spend rate, next-generation legacy and
philanthropic structure and strategy — but
understanding what a business sale can do
for them financially must be thought of in
terms of the rest of their lives, assuring their
long-term goals. And, given the changes
in national and state tax policy, and the
monumental importance of a decision such
as this, some may even contemplate riding
out the next economic cycle to achieve
maximum return.
ROI: How much has technology affected
JPMorgan Chase’s future plans and products?
AD: New Jersey may, in fact, be the first state
in which JPMorgan Chase operates a branch
without any employees. So much of what
our clients need from a branch today can
be done via their mobile phones, so we have
heavily invested in technology that allows
for immediate and real-time services. … For
example, You Invest is an application that is
growing both in New Jersey and nationwide.
Designed for the everyday consumer, this
mobile solution allows people to open an
account with a minimum of $2,000 within a
few minutes to begin trading for free.
ROI: What financial predictions can we expect
through the rest of the year?
AD: As the global economy continues to grow,
I anticipate a strong holiday spending season
due to increased consumer spending. I think
as people finish their tax returns, they will
begin to see the impact. The economy may
not be exactly where it was six months ago,
but from our perspective, we are very much
in line with where we have been for 60 years.
twitter: @megfry3
ROI-NJ RETURN ON INFORMATION-NEW JERSEY December 17, 2018 ROI-NJ.COM

The Interview Issue: Neel Premkumar

New energy
Premkumar is turning heads, taking on market giants with variety of quick-fix caffeine drinks

Neel Premkumar, founder and CEO, Dyla LLC. — ALEXANDRA PAIS

BY BRETT JOHNSON
bjohnson@roi-nj.com

L
ike any good bootstrapping business enterpriser, Neel
Premkumar always is on the move and never off the clock.
In fact, that’s a big part of why he’s a noted New Jersey entrepreneur to begin with.
He’s making strides with a grab-and-go caffeine business — funded by money he raised
from friends and family — that sounds as if it were designed for busy entrepreneurs like himself.
Premkumar was one of the local recipients of EY’s most recent Entrepreneur of the Year
awards. And it’s no wonder he’s attracting attention, because, with FORTO Coffee Shots, he’s
facing up to the Herculean task of pushing 5-Hour Energy over on store shelves, as well as
replacing brands such as Starbucks as the first in consumers’ minds for quick caffeine fixes.
Premkumar even has another beverage brand, Stur Drinks, under the awning of Dyla LLC.

20
ROI-NJ.COM December 17, 2018
ROI-NJ caught up with this active
entrepreneur to hear more about where he’s
been and where he’s going.
ROI-NJ: Do you want to start by describing
your path to entrepreneurship in the food and
beverage sector?
Neel Premkumar: From the beginning, I went
right into this industry. After a job at Pfizer, I
took on a role at Nestlé running their internal
entrepreneurship in their nutrition division.
It was about seven years ago that I founded
my own company. We started with a brand
called Stur, a leading natural drink mix.
Name
Neel Premkumar ROI: What was the impetus for creating this
specific company?
Position NP: My wife and I have twin girls. When she was
Founder and CEO pregnant with them seven years ago, she used
to get dehydrated; she wasn’t drinking enough
Organization water. We went out to find a natural drink mix
Dyla LLC, FORTO Coffee Shots that she was comfortable putting in her body.
and Stur Drinks At the time, we couldn’t find anything. So, we
started making it at home. We used real fruit
Type of business extracts and stevia leaf and it started tasting
Beverages really good. We saw an opportunity, because
we figured there were others looking for a
Headquarters similar natural mix besides ourselves. That’s
West New York what started the business.
And, after that, I was traveling a ton and
Date founded constantly drinking coffee and energy drinks.
2012 Personally, I felt a need to have a quick boost
of energy on the go. Similar to the drink
Financial goals mix business, I was looking for something
Not disclosed wholesome and organic; again, I couldn’t
find it. So, I started blending my own shots of
Website coffee. And so that led to another opportunity:
dylabrands.com packaging espresso shots, essentially, to
take on the go. I got a patent on these little
Phone number packages and invested all the dollars we had
844-450-7575 from the other part of the business into this
about four years ago. I was taking a big risk.
We started out at all the country’s military
bases, and now we’re in about 50,000 retail
stores across the United States.
ROI: How did you make that connection to the
military?
NP: They were our first customer. Through
friends I had in the military, I heard a lot of
talk about how military servicemen and
servicewomen and their families were drinking
a lot of caffeine to keep going on a daily basis.
And they were drinking a lot of energy drinks
as well as energy shots, so we thought this
could be perfect fit. We reached out and went
down to meet with their commissary program
and pitched them on the idea. They loved it.
At the time we did this, I learned through
friends, the Department of Defense was
working on a report talking about energy
drinks and shots and the heavy amounts of
sugar in them was not good for the troops.
21
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
They ended up publishing a report in 2016
about it; it talked about the dangers of
overconsumption of energy drinks. And we
were really just selling a concentrated shot
of coffee — more beans, brewed longer than
any other coffee drink on the planet. So, it’s
a wholesome way to get energy on the go,
which is what they seemed to be looking for.
ROI: You’ve received some recent recognition
for your entrepreneurial ventures, but what
are some of the challenges you’ve faced in
getting your company past its early stages?
NP: Part of it is awareness. We’re spending
quite a bit of money on a marketing
campaign this year with national advertising.
We want to spread broad-based awareness
of this product. A coffee shot is unique. We
want to educate folks about it; it’s critical for
us. That’s our biggest challenge. We have a
national partnership with Keurig Dr Pepper,
so we’re distributed on the backs of their
trucks across the country.
We’ll probably be doubling our
distribution footprint into about 100,000
stores in 2019. A challenge for us is taking
advantage of that. We need enough folks
on the street to take advantage of that
network. Another thing is we’ve patented
this miniature coffee cup shape. We’re
actually the only company in North America
producing products with milk under 4
ounces that is shelf stable. So, we’ve got some
unique intellectual product around this —
and part of the challenge for us how to go
about popularizing this concept.
ROI: Where’s the startup at now in terms of size?
NP: We don’t share revenue, but I can say
that we’ve doubled every single year. We’re
currently under $100 million in sales this
year. We’re in an industry where the success
rate is pretty low. In packaged goods, roughly
3 percent of companies get to $10 million in
sales. Of that, less than 1 percent get to $100
million in sales. So, a fraction of startups in
this industry get as big as we are.
ROI: The bigger you get, the more others notice
you. How will you continue to thrive in the
face of competitors such as Coca-Cola and
Pepsi?
NP: Competing with much larger companies
with lots of money and distribution is not
easy. One of the things I say internally is we
can’t match them in money and distribution,
but we can work much faster. We can launch
a product or idea within a few months
and get immediate market feedback on it.
If it doesn’t work, we can kill it just as fast.
That speed, hopefully, will let us run circles
around other businesses.
twitter: @reporterbrett
ROI-NJ RETURN ON INFORMATION-NEW JERSEY December 17, 2018 ROI-NJ.COM

The Interview Issue: Dawn Fitch

Pure products
Fitch’s health struggles led her to entrepreneurship, and her own bath and body line

Dawn Fitch, founder and president, Pooka Pure and Simple. — ALEXANDRA PAIS

BY MEG FRY
mfry@roi-nj.com

I
t was not her plan to start a business, Dawn Fitch said.
Still, she went from designing album covers to concocting
blended fragrances and testing essential oils in her East Orange
apartment after years of symptoms resulted in her being
diagnosed with multiple sclerosis.
“I had to know exactly what I was putting on my skin,” Fitch said.
After learning 25 million to 50 million people currently suffer from autoimmune diseases
— 80 percent of which are women — Fitch switched gears to become founder and president
of Pooka Pure and Simple in 2001, creating all-natural bath, body and beauty products with
easy-to-read and understand labels.

22
ROI-NJ.COM December 17, 2018
Today, Pooka — a name derived from her
mother’s term of endearment, “pookalitas”
— sells items such as Guava Juice Body
Mist ($11), Citrus Basil Body Butter ($16)
and Island Mimosa Sugar Body Polish
($22) online and from its warehouse and
showroom in Kearny, while also providing
educational workshops in collaboration with
fellow women entrepreneurs.
On track to soon become a $1 million
business, Fitch said she is happy to have
discovered how to help others while also
balancing her own life.
“I work harder now than I worked in
corporate America, but I enjoy it more,” she
Name said.
Dawn Fitch She recently sat down with ROI-NJ.
Position ROI-NJ: What was the catalyst behind creating
Founder and president Pooka?
Dawn Fitch: I had a dream job working for
Organization nearly seven years in digital imaging and
Pooka Pure and Simple graphic design at Sony Music. So, when the trek
to Manhattan started to make me feel run down,
Type of business I thought, maybe I just needed a break. But the
Natural bath, body and beauty products feeling did not go away until, one morning, I lost
all feeling in my lower extremities on my way to
Location work. The emergency room said it was probably
Kearny just a pinched nerve, but that turned into years
of doctors either sending me home telling me I
Date founded was healthy or diagnosing me with everything
2001 from chronic fatigue and fibromyalgia, to
Epstein-Barr and hypoglycemia. Then I would
Financial goals research the different diagnoses, but none of
$1 million in 2019 them ever seemed to explain my symptoms,
including temporary paralysis 10 to 15 times per
Website day. Well, you can’t fight what you don’t know,
pookapureandsimple.com but I at least started changing what I put on my
body as well as in it. … When I realized I could
Phone number not pronounce half of the ingredients on the
201-299-5410 labels of my current bath and beauty products,
I started making my own using very simple and
clear ingredients that already were beneficial
to my health, such as avocado, coconut oil,
blueberry fiber, raspberry seeds, various nuts,
fruits, vegetables, herbs and spices, all with six
ingredients or less that would provide essential
vitamins and minerals without the parabens
and phthalates.
ROI-NJ: Then, of course, your family and friends
started asking you to make products for them.
DF: Yes, until my entire apartment was filled
with product. That’s when they said to me,
‘You have made too much — why don’t we go
to an arts festival and see what we can sell?’
When we sold out, that’s when I knew I had
started a business. My sister and two friends
helped me bootstrap and build the business
together, buying ingredients, creating product
and then selling it at more festivals, house
parties and churches, to buy more ingredients.
I wasn’t exactly sure what this was going to
23
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
be, so I dug into my own savings and 401(k)
before applying for a line of credit.
ROI-NJ: But, when you finally left your job to
pursue this venture full-time, the woman who
replaced you at Sony Music introduced you to
someone at Whole Foods Market, right?
DF: Yes, and, as a result, we are now in 65 Whole
Foods Markets. We actually were in a lot more,
selling more of our product line, but we realized
that, while it is great for marketing, it actually
was better to pare it down. With any retailer,
you have to pay for shipping and returns, as well
as run demos and, so, it really needs to fit your
margins. We are very happy with 65 stores, and
our line also is carried in other small boutiques,
but we actually make most of our money online
through our own e-commerce website.
ROI-NJ: You also are very heavily active on social
media. How does that assist in your marketing?
DF: I am upfront and honest about why I
started the business, so that when you pick up
our product in the store, you might remember
my story and be able to relate. With Pooka,
we have a good following of people who are
going through the same types of things, so we
often let people see behind the brand with
the hope that my story will help someone
as many others’ stories have helped me. …
I actually created a Facebook group called
The Best Life Tribe about nine months ago,
when I was experiencing a particularly tough
flareup, hoping that if someone out there was
going through the same thing, we might be
able to support each other. It has now grown
to more than 2,800 women talking about
autoimmune disorders, food, diet, exercise,
and, though I don’t talk about Pooka as
much, they know I’m the CEO.
ROI-NJ: Collaboration is a key part of your
business, too. How do you connect with
businesses to provide education for others?
DF:I work so much with other women because
we can do more that way. For example, a
friend with whom I share my space in Kearny,
LaShonda Tyree, CEO of Nyah Beauty,
partnered with me to start a program called
Beauty That Cares to teach girls how to make
their own products. We approached the Girl
Scouts Heart of New Jersey about creating a
badge, as well as working with East Orange
schools and booking private parties, to have
hosted entrepreneurial workshops for nearly
800 young women now. They work as a team,
start their own business and make their own
products, many of which are donated to a
local woman’s shelter. … We also are bringing
a third partner, Kimberly Sumpter of Wax
Kandy Candle Co., into the space, who, along
with LaShonda, is a graduate of Rising Tide
Capital in Jersey City. Together, we created a
program called A Life at Ease to provide a day
of creativity, relaxation and empowerment
for women via holistic workshops, including
creating their own body scrubs, candles and
soaps, and learning how to meditate. … We
want to expand our programming to become
a fully-operative do-it-yourself center, where
we can have lots of different classes and
workshops going on at any given time.
ROI-NJ: What advice do you give young
entrepreneurs based on your own experiences?
DF: I start with persistence, perseverance and
prayer. There were so many times when I
thought I would give up, but then something
would happen, and I’d give the business
another two weeks, which would turn into
two years. Social media may show everybody’s
highlights, but there are lots of downtimes
between those. … You have to be sure to stay
in the game and keep knocking on doors. For
example, when Pooka made the cover of Black
Enterprise magazine, I did a speaking tour with
them, but, then, I had to come back down and
get back to my job. You’re never coasting along
and it certainly doesn’t happen overnight. …
Lastly, I tell girls that if they want to be in a
certain industry, there is a lot of work they can
do now despite being young. A lot of people
look for mentors, but mentorship is a busy two-
way street. So, if there are women you aspire
to be like, you can research the breadcrumbs
your favorite people leave behind, like books
they’ve written or speeches they’ve delivered.
For example, even though I did meet Oprah,
we’re not friends, but I consider her a mentor
based on all that I have learned from her
outside of that incredible moment.
ROI-NJ: What goals do you have for Pooka in
the future?
DF: I always am keeping my eye out for new and
healthy ingredients, like Omega-3s and thyme,
and thinking, ‘How can I create a new product
or boost the products that we already have?’
Over the last year and a half, for example, we
retooled some of our body oils and butters to
add turmeric and ginger essential oils, because
they have been amazing for my own health. …
We also are looking to go into one or two more
retailers or natural whole food stores and are
looking to add to our current team of two
part-time and four full-time all-female staff.
In fact, when my mom, my aunts and their
friends are looking for something to do, a lot
of times I bring them here to help us all make
boxes and whatnot. So, LaShonda and I have
both decided to focus on hiring retired senior
women, who often have so much knowledge,
but are limited in where they can apply it. So,
I’m glad my family has somewhere they can
visit, work, and be proud of.
twitter: @megfry3
 EDUCATION
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ADVOCACY
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The NJAA is the premier trade association for New Jersey’s apartment industry.

Join us today at njaa.com.

ROI-NJ.COM December 17, 2018 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

The Interview Issue: Robert Asaro-Angelo

On the ball
Asaro-Angelo, once aspiring sports journalist, proves Labor Department’s value instead

Robert Asaro-Angelo, commissioner of Labor and Workforce Development. — RUTGERS UNIVERSITY

BY ALEX WOLMART
awolmart@roi-nj.com

R
obert Asaro-Angelo grew up in a family of public servants.
His father worked for the Atlantic County Board of Social
Services before heading up AFSCME New Jersey, the public
employees’ union. His mother ended her career as the deputy
administrator of the Board of Social Services in Middlesex County.
So, it only seems natural that his career path to his job as the state’s commissioner of Labor
and Workforce Development started in Bristol, Connecuticut.
At ESPN.
Huh?
CONTINUED ON PAGE 26

25
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
The Interview Issue: Robert Asaro-Angelo
CONTINUED FROM PAGE 25
That’s right, Asaro-Angelo dreamed of
being a sportscaster. But it was when he was
working for ESPN, in a dark control room in
the middle of the night, that he realized he
wanted to help people.
“I loved the energy and creativity, but I
wasn’t helping anyone except shareholders,”
he said.
It’s why he turned down a full-time
offer from ESPN shortly after graduating
from Rutgers University and took an entry-
level position in 1997 for Jim McGreevey’s
coordinated campaign when he was running
Name for governor. He hasn’t looked back.
Robert Asaro-Angelo Asaro-Angelo recently sat down with
ROI-NJ to talk about his role in Trenton.
Position
Commissioner ROI-NJ: What has been your biggest success
since taking over as commissioner?
Organization RA: It’s hard to point to one thing, because
New Jersey Department of Labor I think we’ve done a lot that I’m very proud
and Workforce Development of, but one big overall thing has been
culture-busting. For a long time, with past
Type of Business administrations, this department was never
Governmental agency at the top of the pile or front of mind for a
governor. While there may have been some
Location important initiatives, I truly feel, and one of
Trenton the reasons I took this job, is that most of the
governor’s agenda lives in this department.
Date founded When he had a campaign commercial
1948 about wage theft, that really hit home with
me. (The person in the ad) talks about his
Financial goals dad having to get his money for him and the
Not disclosed same thing happened to me. I was working
down the Shore at a restaurant and hadn’t
Website gotten paid in four weeks. I’m pretty sure
nj.gov/labor/ no governor anywhere had a campaign
commercial about wage theft. So, the culture-
Phone number busting has been the biggest compliment,
609-292-7060 showing folks in this building that we’re
important in the eyes of the governor.
ROI: What is something you thought would be
easy to accomplish but have since discovered
was difficult?
RA: Just like any employer in the state, I think
the most difficult thing is hiring people. I
talked about this in my budget testimony
and in my confirmation testimony. We have
spots in this building that have gone unfilled
for years over multiple administrations
that are federally funded. This department
is not getting our tax dollars’ worth out of
Washington. Our workforce development
department is almost 100 percent federally
funded. We just weren’t filling the spots
because previous administrations were wary
of having to increase the state workforce.
But, I believe firmly that every time we make
a hire in this department, especially since it’s
all federally funded, it’s a direct investment
26
not only in our economy, but in our ability to
serve our customers and our residents.
So, I have an ambitious plan to refill all
the empty cubicles, not just in this building,
but also out in the field, where we hear from
legislators on both sides of the aisle about
folks who can’t be seen by an unemployment
counselor or workforce job coach because
there aren’t enough folks there to serve them.
Quite frankly, it’s not so bad now, because
our economy is doing well, but we need to be
prepared when that isn’t the case.
ROI: Let’s talk about unions. Gov. Phil Murphy
has been adamant about his support for union
labor. Unions appreciated that — but they still
say too many companies are skirting the issue,
using nonunion labor, and cite the state’s inability
to monitor the situation as the biggest problem.
Does the state have enough personnel, and is it
doing enough to stop the use of nonunion labor?
RA: We are agnostic about union or nonunion
in our enforcement efforts. Clearly, I’m a
strong union supporter, but nothing that
we do has anything to do with unions. It has
to do with things like workers’ wages and
misclassification of them being an independent
contractor or not. On construction sites, we
enforce prevailing wage, and a lot of folks
think prevailing wage means union, but it
really doesn’t. There’s plenty of nonunion
companies who properly pay the prevailing
wage. This happens a lot of times, people
thinking our department has a lot to do with
unions when, quite frankly, we don’t. That’s
the National Labor Relations Board. As far as
union organizing, we certainly have roles in
some workplace issues that unions bring to us,
but we don’t have any role in regulating unions
and we don’t have any role in saying whether
or not someone is in a union. Do I personally
think more people should be in a union to give
themselves voice in the workplace? Absolutely.
As commissioner, does it have any bearing on
what I’m doing? Absolutely not.
ROI: OK. On to the state — and its efforts to bring
more business here. ‘You pay more to be here, but
you get more to be here.’ That’s a great marketing
phrase: Do you think it is working? Is there
another higher-tax state that you use as a model?
RA: No one’s coming here for our low taxes. So,
we need to make sure we’re providing value
for what they’re paying for. So, I think we have
a strong role to play in that, because, when I
talk to businesses in the state, and I meet with
business groups all the time — individual
businesses, trade associations and sub-groups
of businesses — not one, and I’m not even
being hyperbolic, not one has complained
to me about over-regulation. Not one has
complained to me about overenforcement of
wages. Not one has complained to me about
December 17, 2018 ROI-NJ.COM
being too strict on our (unemployment)
taxes. Every single one I meet with wants
workers — they want skilled workers.
What are we doing as a department to
create broad talent ecosystems across the
state? Apprenticeships are only a part of that.
But I think a lot of it is just showing that we
as a government have a plan.
ROI: Developing talent. We hear that all the time.
Attraction and retention are huge buzzwords.
So, let’s talk about a big issue with attraction:
Going the trade route vs. going to college. How
do you change the perceptions about each route?
RA: We made a big announcement at the
end of apprenticeship week, which was
early November, where we took concrete
steps to reduce that stigma. I’ve talked about
high school guidance counselors and how,
basically once they’ve decided you’re not
going to college, (students) start to lose their
resources and support.
ROI: How can the state help change that?
RA: The Department of Education is changing
their regulations (on their scorecards) to make
it so (a school) sending a child to apprenticeship
programs receives the same credit as sending
a child to college. Hopefully it’ll be a big
underpinning piece of reducing that stigma
amongst our important thought leaders on this
front, which would be thousands of guidance
counselors, principals and educators across
the state. Even though they may be supporters
of apprenticeship programs or work-based
learning, in the end, they were getting demerits
for pushing a kid that way, which is really not
how our system should be working.
ROI: OK, now let’s get back to the question
everyone wants you to answer. You turned
down a job with ESPN — what so many
people would consider a dream job, no matter
the duties. How did that go down?
RA: There wasn’t a moment, but when I talk
about this, I have a vision in my head of being
in a control room editing Big Ten football
highlights and having a conversation with
the guy next to me about something in the
governmental or political realm. I remember
thinking, ‘What is the point of this?’ It
was probably 4 in the morning and I was
exhausted, but I just remember thinking that I
wanted to do something more. I was so proud
to be a part of an entity such as ESPN when it
was only a couple hundred employees, but it
was evident there wasn’t a career path there. ...
It wasn’t just wanting to serve the public, it was
asking the question of, ‘Where is this going
for me?’ So, being in a dark control room
reviewing Big Ten highlights is what comes to
mind when I think about that transition.
twitter: @alex_wolmart
ROI-NJ RETURN ON INFORMATION-NEW JERSEY December 17, 2018 ROI-NJ.COM

The Interview Issue: Jodi Grinwald

Taking the stage Founder of new nonprofit aims to change kids’ lives through performing arts

Jodi Grinwald, co-founder and CEO, Zzak G. Applaud Our Kids Foundation. — ALEXANDRA PAIS

BY MEG FRY
mfry@roi-nj.com

J
odi Grinwald said it was her father that instilled in her daughters
a love for the performing arts.
“He could not afford to take vocal lessons when he was a kid,
but discovered he was an operatic tenor lyricist in his mid-30s,”
Grinwald said.
Now, Grinwald and her sister, Melissa Grinwald, have made it their mission to provide
low-income students with the same access to the arts as their own families.
“We created the Zzak G. Applaud Our Kids Foundation in honor of our father, who
passed away from amyotrophic lateral sclerosis in 2015,” Jodi Grinwald, co-founder and
CEO, said. “My dad always wanted to be able to do what we are doing now for these kids, so,

28
ROI-NJ.COM December 17, 2018
hopefully, the stars will continue to align.”
Based in Barnegat, the statewide
foundation provides scholarships for lessons
and necessary materials in the performing
arts, including instruction in voice, dance,
acting, instrumental music, audio-visual and
film, to children between the ages of 7 and
18.
“Performing arts education provides
children with the opportunity to find their
own voice, increases self-esteem, gives them
a sense of belonging and provides a creative
outlet in which they can openly express
themselves,” Grinwald said. “Not to mention
that low-income students who are highly
Name engaged in the arts are twice as likely to
Jodi Grinwald graduate college as their peers with no arts
education.”
Position
Co-founder and CEO ROI-NJ: You had worked as an executive in
the nonprofit sector since 2005, with the
Organization American Heart Association, the American
Zzak G. Applaud Our Kids Foundation Lung Association and the Young Men’s
Christian Association, as well as with the
Type of business MIDJersey Chamber of Commerce. What has
501(c)(3) arts organization your experience been in devoting yourself full-
time to creating your own not-for-profit?
Location Jodi Grinwald: It has been more difficult
Barnegat to create a local nonprofit foundation, as
opposed to working for a national brand,
Date founded but we have been very lucky and have such
July 2017 an appreciation for those who helped us
start, including our attorney and accountant,
Financial goals who donated their time to help us create
$250,000 in 2019 and solidify our mission and organization
without incurring heavy costs. … We
Website officially obtained our 501(c)(3) status in
Applaudourkids.org July 2017, and a few months afterwards,
appeared on Fox 5 New York despite having
Phone number no funding or applications. But, truly on
732-908-3616 a wing and a prayer, it all happened very
quickly, and we were able to provide our first
scholarship in November 2017. … I’ve never
felt more fulfilled and I’ve never worked
harder because the outcome thus far has
been amazing.
ROI: Tell us a bit about how the foundation
works.
JG: Through a combination of grant writing,
corporate dollars and crowdfunding, we are
able to provide scholarship recipients with
lessons at local studios throughout the school
year or during the summer, just like their
peers whose families can afford to send them.
We level the playing field while also planning
several performances and events throughout
the year to both showcase the students and
grow awareness of our organization as well
as that of our local studio partners. For
example, we held our first annual scholarship
showcase in June so that all of our community
donors could follow their dollar to see the
29
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
difference their contributions made. And, at
every one of our events, kids are helping kids.
For example, children who are interested in
stage management can work with a mentor
at one of our events, or volunteer to sell
concessions or hand out programs. We also
hold auditions for our performance group,
comprised of kids whose families can fund
their arts education, to go out and perform at
other nonprofit and for-profit events to grow
awareness of our foundation. This allows
us to teach them about community service
while providing them with the opportunity
to do something that they love.
ROI: How are scholarship recipients selected?
JG: A family of four would need an income
less than $50,500 to qualify. If a child is
funded this year, they may continue to be
funded next year as long as they continue to
meet this financial criterion. Students also
must submit an essay or video sharing what
receiving this scholarship would mean to
them before being paired with a participating
local performing arts studio or community
organization.
ROI: How do you go about partnering with
various performing arts organizations in the
state?
JG: We interview and visit with each of our
studio partners to ensure they will be a
good fit for our scholarship recipients. For
example, if we have kids in their teens who
have never taken dance lessons before, it
may be difficult for them to join a clique of
kids who have taken dance lessons together
since they were 3 years old. We make sure
that our studios work to be inclusive and
that our students are brought in and made to
feel like they are part of the family. We also
work with our studio partners on pricing,
as all of them tend to care about our kids
more than anything else. … Lessons also
can move with children, if necessary. For
example, our very first scholarship recipient
was taking classes in Toms River, and when
she moved to Hamilton, we found her a
studio in Mercer County to continue with
her lessons. We also have worked with Court
Appointed Special Advocates to ensure that
scholarship recipients in foster care, as long
as they have transportation, can still obtain
lessons even if they are moved several times.
… We are headquartered in Barnegat, but if
a child from Bergen County were to apply,
as long as we have the funding, we can find
an arts organization local to them in which
to take lessons. We currently work with 12
studios and also are pursuing partnerships
with community theaters and performing
arts centers, such as Count Basie Center for
the Arts and Two River Theater in Red Bank.
ROI: What goals do you have for the foundation
in the near future?
JG: Our goal for 2019 is to raise more than
$250,000 in funding. I would love to say $1.5
million, but I know that we are small, and
even when we bring in just $10,000, we can
provide lessons for up to 10 children that
year. We currently have 20 children in our
program, and, by the end of next year, I want
to have provided lessons for more than 100
students. … The challenge is there are so
many worthy nonprofits, including in the
performing arts, and everybody wants a piece
of the pie. And, while our current advisory
committee is comprised of eight wonderful
members, not every passionate person is a
fundraiser. So, we are looking for more young
professionals with a passion for the arts to
join our committee and help us grow.
ROI: What have you learned as a new arts-
based nonprofit in New Jersey?
JG: Most people say, ‘Oh, you just provide
lessons in the performing arts?’ And I
say, ‘Oh, my gosh, it is so much more than
that.’ We have kids in our program who
have tragically lost family members, and,
in many cases, these weekly lessons are the
only console they currently have. Or, we’ve
talked to parents who said, ‘My daughter has
been bullied, but these acting lessons have
given her so much more self-confidence.’ We
even met with parents of a nonverbal autistic
student who never thought he’d be able to
take lessons, but we successfully found him
a studio and a drum teacher. Every parent of
our scholarship recipients has talked about
how these lessons have helped make their
children happier and feel more connected to
their communities.
twitter: @megfry3
ROI-NJ RETURN ON INFORMATION-NEW JERSEY December 17, 2018 ROI-NJ.COM

The Interview Issue: Marc de Grandpre

Seeing green
GM Marc de Grandpre says Red Bulls’ strong season translated to record revenue

Marc de Grandpre, general manager, New York Red Bulls. —

­ RED BULLS

BY ERIC STRAUSS
estrauss@roi-nj.com

F
or the New York Red Bulls, an outstanding season on the
pitch has paid dividends off it, according to the club’s general
manager, Marc de Grandpre.
De Grandpre, who has been the Red Bulls’ general manager since 2014, told ROI-
NJ that the Major League Soccer team set a record for revenue this season, including seeing
growth in critical areas such as ticket sales revenue, merchandise sales, corporate partnerships
and more.
That bottom-line success was fueled by an on-field season at Red Bull Arena in Harrison
that saw the team win the Supporters Shield for the best record in the regular season — setting a
league record for points — while advancing to the Eastern Conference finals in the postseason.

30
ROI-NJ.COM December 17, 2018
ROI-NJ spoke with de Grandpre about
the Red Bulls’ 2018 season and what it meant
to the club and its home state.
ROI-NJ: Let’s start on the pitch. Does the team
consider this its most successful season, even
though it fell short of the MLS finals?
Marc de Grandpre: The accomplishments
on the pitch will go down in history as
one of our most successful seasons ever,
thanks to Sporting Director Denis Hamlett,
head coach Chris Armas and, of course,
our players. This season, we captured our
third Supporters Shield in six seasons and
Name reached the semifinals of the prestigious
Marc de Grandpre CONCACAF Champions League.
There were several individual player
Position accomplishments, including four of our own
General manager being named to the MLS All-Star Team.
Bradley Wright-Phillips became the fastest
Organization player in the history of Major League Soccer
New York Red Bulls to reach 100 goals and Aaron Long was named
MLS Defender of the Year in only his second
Type of business season with the club. Nine players who were
Major League Soccer club called up to play on their respective national
teams, including Long and Tyler Adams for
Location the United States Men’s National Team.
Harrison The foundation is in place to continue
building upon the success of this past season.
Date founded
1995, as New York/New Jersey ROI: How did the team fare from a business
MetroStars; became New York standpoint, given the on-field success?
Red Bulls in 2006 MD: We enjoyed a tremendous year, due
to the hard work and effort from the club’s
Financial goals executive leadership team and front-office
Not disclosed staff. We generated the highest revenue
figures in franchise history this year, which
Website included ticket sales revenue growing by 14
newyorkredbulls.com percent. For the first time in club history, we
had 100 percent renewal from our marketing
Phone number partners, and increased the number of
877-727-6223 total partners by 25 percent. The food and
beverage per-caps at Red Bull Arena reached
an all-time high, culminating in a total
revenue record for the organization.
Merchandise and apparel sales in the
Bull Shop, our team store located in Red
Bull Arena, increased over 35 percent in
2018, while online sales skyrocketed nearly
55 percent. This is largely due to the team’s
success, our fan-friendly players and the pride
our supporters have in representing the club
with the new red jersey that was released this
season after years of fans campaigning for a
jersey that reflected the team’s campaigns of
‘Red Together’ and ‘NYisRED.’
ROI: Speaking of marketing partners, the team
made headlines this year with an ‘Official
Empanada’ — how did that partnership aspect
of the business go this season?
MD: Our success on the pitch has absolutely
led to the emergence of new marketing
31
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
partners in 2018, such as Evian, Lyft, Taco
Bell, Verizon Wireless and Wells Fargo joining
existing partners which include Affinity
Credit Union, Audi, Bayer, HackensackUMC,
Heineken, Horizon Blue Cross Blue Shield
of New Jersey, Honda, the Hospital for
Special Surgery, Prudential, Southern New
Hampshire University and Yanmar. Locally,
we added two exciting Jersey-based partners,
Provident Bank and Brisas Restaurant.
Provident Bank (based in) Jersey City
became the club’s ‘Official Banking Partner,’
receiving exclusive naming rights to the
fourth- and fifth-floor luxury suite levels of
Red Bull Arena — the space is now known as
the Provident Bank Suite Lounge. The mutual
shared values in making an impact within the
community served as a key component in
solidifying our partnership with Provident.
Brisas, a family-owned, Elizabeth-based
restaurant, created a voice through social
media that expanded the brand’s reach to
new audiences in both the tri-state area and
throughout the country. Brisas was designated
first ‘Official Empanada’ of any pro sports team,
making national news in the sports marketing
industry. Their specialty empanadas have
taken on a cult following at Red Bull Arena and
sales have exceeded all expectations on match
days. The viral social media presence has been
unprecedented for a local marketing partner.
ROI: What about the team’s role in the
community?
MD: The club continued to make a significant
impact in the community, highlighted by our
commitment with the U.S. Soccer foundation
to open 20 mini-pitches throughout the
Newark Public Schools over the next five
years. We also received contribution from
our entire front office, coaching staff and
players during our annual ’11 Days of
Service’ initiative, giving our time back to
the community for the entire month of
September alongside our marketing partners.
ROI: Any longtime visitors to Red Bull Arena can’t
help but notice the changes in the neighborhood
in Harrison. What role has the club played in
those changes and what benefit is it seeing?
MD: Our organization has been at the
forefront of the developmental renaissance
in the town of Harrison. The recent opening
of the new Harrison PATH train provides
improved convenience and access to our
venue for our fans on match days. New
parking options will be available in the future
for fans that drive to Red Bull Arena.
Whether (fans are) coming from New
Jersey or New York, we are constantly working
to improve the entire fan experience, which has
earned the highest ranking for fan experience
by JD Power for two consecutive years.
ROI: What does the club see as its current place
in the overall New Jersey sports world? Given
that it plays in New Jersey, but has New York
in its name … is that a hindrance in any way?
MD: The club remains an integral part of the
fabric of New Jersey sports. Not only is Red Bull
Arena located in Harrison and our training
facility in East Hanover, but our team has the
most homegrown players on an MLS roster,
with five players who are from New Jersey. This
is due to the incredible youth training programs
the club has established throughout the tri-state
area, which bring over 45,000 children into the
Red Bulls pipeline — the largest of its kind in all
of professional sports in North America. Our
fans love the fact that they can root for players
that are homegrown, from Jersey, New York or
somewhere in the local area.
The club has been in existence for
23 years, and is proud to represent all of
New Jersey and the entire tri-state area in
promoting and growing this beautiful game.
Partners understand the impact we make,
both on the pitch and in the community.
They have embraced our vision and are true,
proud, dedicated partners.
ROI: How does the team see the future, from
a business standpoint? How do you hope to
build on the current success?
MD: This is a prolific time for our entire
organization as we continue to strive to make
our fans and partners proud of the club. There
are several opportunities being discussed with
current and potential partners, including
high-profile branding sponsorships with arena
naming rights and the jersey sleeve patch.
I also see the opportunity to align with
companies and properties in both e-sports
and the sports betting space.
We are also continuing to pursue bringing
major concerts to the venue, which would
introduce new consumers to the quality and
convenience of Red Bull Arena.
ROI: Soccer is a sport with a long history,
but also one with a youthful fan base. What
does that mean for the Red Bulls in terms of
advances like technology?
MD: We are eager to find new ways to engage
our fan base through technology. This year
brought the launch of the club’s first official
mobile app. Additionally, we entered and
have become leaders in the e-sports space,
which has become a fascinating business,
especially in the sport of soccer, where the
‘FIFA’ game looms so large.
ROI: Bottom line?
MD: Our goal in 2019 is to continue to improve
every day, to make our loyal fans, partners
and community proud of their soccer team.
twitter: @acerimrat
ROI-NJ RETURN ON INFORMATION-NEW JERSEY December 17, 2018 ROI-NJ.COM

Op-Ed

I’m a CEO. I support

the $15 minimum wage

G
uaranteeing a $15
minimum wage in New
Jersey is the right thing
for employers to do. The
governor, Senate president
Happy
and Assembly speaker must
find a happy middle ground in their debate to
employees
ensure a living wage for those who most need
it in New Jersey. make for a
better work
I don’t make this claim as a labor
advocate, but as a business owner in a field

rife with underpaid workers. I am CEO of
Lawns by Yorkshire,
one of the state’s larger
landscaping and snow
removal firms, and
I believe all of LBY’s
employees and, indeed
all those in New Jersey,
Steven
Jomides deserve a fair day’s wage
— and $15 an hour is
right by today’s standards.
Recently, I was in a meeting where several
of my fellow business owners were expressing
concern about this soon-to-be mandate. I
made the point that we need to be honest
about entry-level wages, which in my business
are $13 to $14 already, so it’s not much of a
stretch to bump it to $15. In supermarkets and
warehousing, I see ads offering a starting wage
of $15. The $15 is happening because of market
forces, and fighting it doesn’t seem right.
No doubt there’s a fear among business
owners of wages moving up as someone
making $15 now might be moved to $17
and so on. But, we need to face the reality
that is New Jersey today. We are in a very
tight labor market and I see “Help Wanted”
signs in most establishments I walk into. If
businesses care at all about the goods and
services they provide to their customers, they
need a workforce able to deliver on their
commitments.
product and
more value to
our customers.
Even in a business like mine, where the
labor force is the single biggest expense.
So, in a market where we are competing
for high value labor, it’s up to businesses to figure
this out. It’s not going to break anyone’s business,
especially those focused on a quality product
or service. I am doing it right now in my
business. More than 90 percent of the LBY staff
makes at least $15 an hour. It will soon be 100
percent, with or without a mandate from state.
Why? It’s not just about fairness for those
who work hard at too low a wage to be able
to afford any kind of a reasonable life for their
families. It’s about keeping turnover low, so
you can deliver for your clients. That should
be motivation enough. Happy employees
make for a better work product and more
value to our customers. That’s what makes
businesses successful, not squeezing the
lowest-paid employees in a tight labor market.
Steven Jomides is CEO of Westwood-
based Lawns by Yorkshire.

32
ROI-NJ.COM December 17, 2018 ROI-NJ RETURN ON INFORMATION-NEW JERSEY

View Point

Show & Tell

Jonathan Ash is a partner at Fox Rothschild’s Princeton office
and member of the firm’s Labor and Employment Department.
We asked him about
what employers need
to know before their
holiday party.

“
In the #MeToo era,
employers have legitimate
concerns about employee
behavior at holiday parties,
particularly if those parties are
out of the office and include
alcohol. The key to addressing
those concerns is having
comprehensive harassment policies
in place. The company can use the
holiday party as an opportunity
to reiterate those policies
to remind employees
of the company’s
expectations. It may
also be a good idea to
specifically remind
managers and
supervisors that they
should be setting an
example with their
own behavior.”

Three Cheers! (or jeers)

CASH AND CARING: RWJBarnabas Health became the latest, and
largest, health system to announce plans for a $15
minimum wage in New Jersey, joining Cooper, St.
Joseph’s, Inspira, Virtua and Thomas Jefferson.
CEO Barry Ostrowsky not only announced the
planned hike, but also he declared that the system
would do all it can to account for public assistance
qualifiers and others who might fall through
loopholes. Cheers, especially for considering issues
others might not have even thought of.

BUILDING BOOM: Joint venture

partners Ironstate and Brookfield
broke ground on a two-building
project that will revamp an area
of downtown Montclair alongside
the historic Wellmont Theater.
Montclair has become one
of the state’s most
visible, walkable downtowns and the continued projects
along Bloomfield Avenue and the environs — including
residential and hospitality — are helping the spotlight
shine even brighter. Cheers!

EDA MILESTONE: The state’s Economic

Development Authority announced recently that its Net
Operating Loss Program, in which younger, money-
losing companies can sell credits to larger corporations
for cash, had topped the $1 billion mark in approvals.
Anything that helps startup businesses on the road to
success deserves cheers.

33
ROI-NJ RETURN ON INFORMATION-NEW JERSEY
Non Profit
The Urban League
of Essex County
Wells Fargo Regional Foundation supports our neighborhood revitalization initiatives to improve the quality of life in urban communities. —
Origin
The Urban League of
Essex County has been
serving people and
communities in Essex
County for more than
100 years! Founded in
1917 by William Ashby,
the League was formed
to assist the many
African-Americans
families coming North
during “The Great
Migration” from rural,
agricultural backgrounds
in the South. The
industrial orientation of
urban centers presented
immense challenges
for these Americans
— both socially and
economically. The
League was founded to
assist with job training,
safe and decent housing,
education and child care,
social services, and civil
rights advocacy and
those services are still
being delivered today.
Conversation Starter
People in need of services can reach us at:
973-624-9535, ulec.org/connect
or visit us at 504 Central Ave., Newark.
Potential donors, funders or partners
should contact our CEO and president,
Vivian Cox Fraser, at vfraser@ulec.org.
Goals
Advancing opportunities
and obtaining economic
pathways to move
families out of poverty
through better jobs,
better schools and more
vibrant neighborhoods.
In the year ahead, we
will expand our training
programs to focus on tech
jobs, providing access
to STEM-based career
pathways and developing
partnerships that nurture
greater access to science,
technology, engineering
and mathematics
education for low-income
communities.
Mission
Our mission is to assist
African-Americans and
disadvantaged residents
in achieving social and
economic self-sufficiency
in local communities. Our
motto is “Empowering
Communities. Changing
Lives.” The League
welcomes any resident
of Essex County
that seeks our help
and qualifies for our
programs and services.
We serve those of the
greatest need, often who
have multiple barriers
to the workforce and
economic success.
34
Focused on urban
economic development
­ THE URBAN LEAGUE OF ESSEX COUNTY
Achievements
The Urban League
movement is founded
on enabling individuals
to secure economic self-
reliance, parity, power
and civil rights. From
advocating for decent
housing and shelter,
access to economic
opportunities, equal
treatment and civil rights,
to homeownership
and community-
building, the League’s
achievements have
helped tens of thousands
move onto productive
pathways to realizing
their own American
dream. Recently, the
League has begun its
transition to a robust
community development,
with investments in
socially conscious
ventures, affordable
housing development,
sustainable career path
programs and leadership
development.
December 17, 2018 ROI-NJ.COM
Programs
Our programs are in four
main areas that build
strong foundations for
individuals to become
economically successful
and to invest in their
own communities: 1.
Education, including early
childhood and youth
programs; 2. Employment-
related services and
financial literacy
programs; 3. Affordable
and stable housing,
including emergency
assistance for those
facing homelessness and
housing counseling; and
4. Community-building,
including economic
development and local
resident leadership
training.
Where: Our offices
are located in
the West Ward of
Newark, on Central
Avenue.
Serving: We
serve low- and
moderate-income
residents from
Essex County, and
provide program
services in sites
across the county.
Key members: We
are an organization
of more than 50
employees and
15 community
leaders that serve
as our board of
trustees. Our CEO
and president,
Vivian Cox Fraser,
has been with the
League for more
than a decade.
Benefactors
MCJ Foundation and
Greater Newark LISC are
invaluable partners in our
work. We are honored
to be supported by
leading corporations like
Prudential, TD Bank, Wells
Fargo, Bank of America
and United Airlines.
Fundraising
The League is an IRS
certified 501(c)(3)
charitable organization.
The majority of our
clients are very-low
income, and our
programs and services
are provided at no charge
to them. Therefore, most
funding comes from
corporate, foundation
and philanthropic
funders. We solicit
individual donations
and conduct fundraising
events. We welcome new
investors and are proud
of our record of financial
stewardship.
Finally
Our initiatives, programs
and services empower
people and communities
to change in positive ways.
The League has been
serving Essex County
for 100 years and we
welcome donors, funders
and partners that will help
us to fulfill our mission for
another 100 years.