Hispanic business incubator on the way to Long Island

<p>The Long Island Hispanic Chamber of Commerce plans to use a $500,000 state grant to start a business incubator program.</ p><p>The Island's state Senate delegation secured the funds during budget deliberations in Albany, which essentially came to a close this week. The center

will provide support, education and resources to established and prospective business owners from Long Island's Hispanic community. For start-up companies, the incubator will provide space and access to equipment, including computers, telephones and software.</p><p>We are excited about this project and look forward to continuing the unprecedented growth of Hispanic- owned businesses on Long Island, said Jorge Martinez, president of the Hispanic Chamber of Commerce, based in Lynbrook, in a statement announcing the grant.</p><p>The incubator's $500,000 grant will cover two years of operation.</p><p>Hispanic businesses comprise a vital segment of Long Island's economy, said Sen. Dean Skelos, R- Rockville Centre, the deputy minority leader, adding that the incubator will help Hispanic businesses keep pace with the overall Latino population growth on Long Island.</p><p>According the U.S. Census Bureau, Hispanic-owned businesses in New York grew faster than in any other state between 1997 and 2002. In the last decade, the number of Hispanic-owned businesses on Long Island has spiked from 4,000 to more than 14,000.</p>