PRESS RELEASE: Welcome to Chinatown Begins Construction on Manhattan Chinatown’s First & Only Small Business Innovation Hub
The organization recently completed the Hub’s soft-open period from July 2023 to February 2024.
[NEW YORK, NY, March 28] — Welcome to Chinatown, a non-profit supporting Manhattan Chinatown, began demolition and construction on its Small Business Innovation Hub located at 115 Bowery this month. The Hub is a first-of-its-kind gathering space for the community to empower small businesses, build bridges, and champion sustainable growth. Once opened, The Hub will accelerate existing businesses and incubate new ones, while also serving as a center and event space focused on community growth and entrepreneurship within Manhattan Chinatown and its wider community.
Welcome to Chinatown opened its Hub doors last summer for a soft-open period in which many of the organization’s various community and small business programming were piloted. During this period, Welcome to Chinatown hosted over 35 community events with 3,000+ in attendance, piloted its “Coach” model (which provides small businesses & budding entrepreneurs with training and hands-on support) with two Corina Beauty Center and Ting’s Gift Shop, and launched its community co-working space.
During the pilot period, Welcome to Chinatown reached its capital fundraise goal of $785,000, with the support of partners including Empire State Development, Jefferies, Panda Restaurant Group, Amazon. These funds will allow the organization to build the Hub, and further develop its work to better serve the community. The Hub is slated to re-open this fall, along with new programming and updated initiatives built on data from the organization’s Impact Study conducted in 2022.
Empire State Development President CEO and Commissioner Hope Knight said, "The Small Business Innovation Hub marks a groundbreaking milestone as Chinatown's first dedicated space for small business support, empowering local entrepreneurs and strengthening the fabric of this vibrant community. ESD is proud to support Welcome to Chinatown’s visionary project, underscoring our commitment to nurturing small businesses as the backbone of thriving neighborhoods and paving the way for a more resilient economic future in Chinatown."
New York City Regional Economic Development Council Co-Chair Félix V. Matos Rodríguez, City University of New York Chancellor, said, "The NYCREDC is thrilled to support Welcome to Chinatown's Small Business Innovation Hub, a groundbreaking facility that will bolster the entrepreneurial spirit and strengthen the neighborhood’s deep-rooted sense of community. By addressing the critical needs of entrepreneurs and providing them with the resources to thrive, this initiative will catalyze economic growth, foster resilience, and ensure that Chinatown's ingenuity continues to shape its prosperity for generations to come.
Rich Handler, Jefferies’ CEO, and Brian Friedman, its President, stated: “We are fortunate to support the launch of the Hub, which will quickly become a key cultural and business gathering point, and look forward to seeing the great ideas, businesses, connections, and community growth it will facilitate.”
“Panda Restaurant Group understands the importance of creating spaces where people can come together, share ideas and support one other. We are honored to be a part of this momentous groundbreaking of Welcome to Chinatown’s Small Business Innovation Hub,” said Glenn Inanaga, Chief Administrative Officer of Cherng Family Trust. “This initiative resonates deeply with our core values of inspiring better lives by recognizing the vital role small businesses play in our communities.”
Since its inception in March 2020, Welcome to Chinatown has become a critical partner and resource for the Chinatown community, through honest conversations, persistence, and trust. The forthcoming official opening of the Hub marks the next phase of Welcome to Chinatown’s work, providing entrepreneurs with a space to gather, learn, and grow alongside each other.
"Amazon is proud to be a founding supporter of Welcome to Chinatown's new small business Hub," said Carley Graham Garcia, Head of Community Affairs for Amazon New York, "The Hub will help accelerate Chinatown businesses both old and new and serve as a needed community center focused on entrepreneurship and small business needs. We're proud to support more than 40,000 independent sellers in New York, many of which are small and medium-sized businesses selling on Amazon.com and now here at the Hub."
State Senator Brian Kavanagh, who represents Chinatown, said, “The announcement that Welcome to Chinatown has begun construction on its Small Business Innovation Hub at 115 Bowery is great news for Chinatown. Small businesses in Chinatown, many of which were disproportionately impacted by the effects of Covid-19, will soon have a place they can gather to obtain and provide resources, develop partnerships, and share best practices. This innovative space is a testament to our commitment to empower small business owners, foster collaboration, and drive sustainable growth in Chinatown. I am especially pleased that my office was able to provide capital funding towards the renovation of this remarkable space, further bolstering the incredible work being done here. I am confident that this new hub will help unleash the boundless potential of this community’s small businesses, and unite all of us around a vision for a vibrant and thriving Chinatown.”
Welcome to Chinatown’s Hub will re-open this fall at 115 Bowery in Manhattan Chinatown. The Hub’s design and construction is led by architect Justin Ng of SPACED AGENCY. Stay up to date with The Hub’s latest news by following Welcome to Chinatown’s Instagram and website.
About Welcome to Chinatown
Welcome to Chinatown is a non-profit organization amplifying and addressing the critical needs of our community and its entrepreneurs. Together, we will keep Chinatown open for generations to come.
Learn more about Welcome to Chinatown’s Hub here.
