• June 13, 2025
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David Olivencia stepped into full-time role as CEO of Angeles Investors

Angeles Investors announced that David Olivencia stepped into his full-time role as CEO of Angeles Investors this week. “David has a long passion for early-stage investing, and as a member of the IrishAngels has invested in over 70 startups, including two unicorns and more than 10 with valuations over $100 million”, said the organization. “In three short years, and with the benefit of David’s leadership, Angeles Investors has grown to over 150 members, making it one of the fastest-growing angel investing groups in the world. We open 2023 anticipating accelerated growth for Angeles Investors, including more opportunities for our members, portfolio companies, sponsors, and partners”. Olivencia was a managing director at Accenture, leading the Accenture Cloud Program for the company’s health and public service customers. Prior to Accenture, Olivencia held various technology and business strategy leadership positions of increasing responsibility at Nippon Telegraph & Telephone (NTT), Ford Motor Co., Oracle,…

SBA announces streamlined support for local infrastructure contractors

The U. S. Small Business Administration (SBA) announced changes to streamline the submission of Work-in-Process (WIP) information small businesses provide when receiving bonding support through the Surety Bond Guarantee (SBG) Prior Approval Program. Surety bonding is required for any business to bid on most major construction projects.  The SBA Surety Bond Guarantee program backs surety bonds for small businesses wishing to submit qualified bids in partnership with surety companies and their agents, allowing them to offer bonds and bonding capacity to small businesses that might not qualify otherwise. Coupled with the bipartisan CHIPS and Science Act – signed by President Biden on August 9, 2022 – which will help turbo-charge domestic manufacturing and production, lower costs for Americans by bringing supply chains home, and create good-paying union jobs, the revamping of the Surety Guarantee Program represents a strategic investment in helping small businesses compete in an evolving, increasingly global…

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ComEd powering a future workforce

ComEd supplies not only electric power for northern Illinois, but also opportunities. Developing the area’s workforce is a prime goal of the company’s philanthropic spending, said Evelyn Rodriguez, senior manager for corporate relations for ComEd. ComEd corporate giving has been focused on four topics: ensuring clean air and water, environmental stewardship, and fighting climate change; building equal access to arts and culture; supporting chambers of commerce and economic development organizations; and building the future workforce. Education This last focus has been a large part of her work in the two years since she joined the company, Rodriguez said. “Since I joined the company, we’ve been working very diligently on supporting ComEd’s educational programs to build a workforce that’s representative of the communities we serve.” For example, she said, the utility launched its ComEd scholars program in partnership with the University of Illinois Chicago and Illinois Institute of Technology, and…

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We Rise seeks economic recovery for everyone

By David Steinkraus, Negocios Now Once the emergency needs of people were being met during the beginning of the COVID-19 pandemic, it became clear that the emergency response was not enough, said Gloria Castillo of The Chicago Community Trust. Leaders of the relief realized they needed to think about helping the whole community recover. Until last year, she was president and CEO of Chicago United, a corporate membership organization focused on increasing parity in economic opportunities for people of color and minority-owned businesses. She is now associate vice president of We Rise Together, an initiative of the trust to help people of color find better economic opportunities during the recovery from the pandemic. What happened after the Great Recession of a decade ago illustrates what leaders wanted to avoid this time, she said. “As we came out of it, the Black and Latinx communities did not recover in the…

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NOVA Driving’s Turnaround 

By Migdalis Perez, Negocios Now- Coronavirus’ impact on small businesses forced Mayra Khan to park her cars, but it didn’t slow her down at all.  The CEO of NOVA Driving School quickly revved up the engine of creativity and launched a temporary business model that is giving the COVID-19 a run: online driving classes with live instructors. “In Illinois we were the first in our industry, to offer live classes on the web with classroom teachers. We also put materials and tests online for all students to register immediately. We did it in a matter of one day and that is what has saved us,” acknowledges the executive. Khan recalls that when the coronavirus epidemic began, her first thought was, “Now what do we do?” Because, logically, they were forced to close. “We had to park our 27 cars; cars that were rolling. And we also had to watch…

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City of Chicago launches $5 million grant program for Microbusiness

Mayor Lori E. Lightfoot and Department of Business Affairs and Consumer Protection (BACP) Commissioner Rosa Escareno today announced a new $5 million Microbusiness Recovery Grant Program to provide grants to up to 1,000 microbusinesses in low- and moderate-income neighborhoods that have been impacted by the Coronavirus 2019 (COVID-19) outbreak. Made possible with support from foundations, individuals and businesses to The Chicago Community Trust in partnership with The One Chicago Fund, the new grant program will award businesses with grants of $5,000 which will be distributed via lottery. Applications are available today and will be open until May 4. To apply, visit www.chicago.gov/recoverygrant. To ensure much-needed relief is provided to businesses as fast as possible, grants will be all awarded by May 11, just one week after the application closes. Our small businesses are fundamentally rooted in, hiring in and building wealth in Chicago’s neighborhoods – which is why we…

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Chicago property tax shifts could ‘shock’ Illinois into recession

The head of the Chicagoland Chamber of Commerce warned that shifting Cook County’s property tax burden to businesses could shock the entire state of Illinois into an economic downturn. From 2018 to 2019, the Cook County Assessor’s office said the northern third of the county’s businesses would see their share of the total property tax burden go from 34 percent to 44 percent. That represents a sizable shift in property taxes to businesses, which Jack Lavin, CEO of the Chicagoland Chamber of Commerce, said will mean an estimated $1 billion more in property taxes for those businesses compared to what they had been paying. Lavin warned that a shift to higher fixed costs on the majority of businesses in the county could shock the region. “It’s important to remember the first casualties of a sudden tax shift would be the small, locally owned properties and tenants who would be unable…

IHCC names Jaime di Paulo as its new President and CEO

Chicago- The Illinois Hispanic Chamber of Commerce (IHCC) Board of Directors announced today that Jaime di Paulo will serve as the organization’s new President and Chief Executive Officer.  For the past five years, Di Paulo has served as Executive Director of the Little Village Chamber of Commerce (LVCC).  Di Paulo was selected by the IHCC Board, following a rigorous and competitive process led by Noetic Search LLC, an executive recruitment firm. “Over his tenure at LVCC, the budget, membership and volunteer base all grew significantly.  He also was able to build support and participation from elected officials and corporate leaders contributing to heightened visibility for LVCC and increased opportunities for business growth for members and non-members alike” . According to IHCC, these accomplishments were recognized in 2018, with LVCC being awarded Chamber of the Year by the U.S. Hispanic Chamber of Commerce. “As the next CEO of IHCC, I…

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Obama Foundation to HACIA: Yes, We Can!

The Obama Foundation assured the Hispanic American Construction Industry Association (HACIA) that it will incorporate Hispanic-owned companies in the Design and Construction the Obama Presidential Center, which is to be built in the south of the city with an investment of $400 million dollars. Michael Strautmanis, Chief Engagement Officer of the Obama Foundation, promised HACIA executives that they will work with their companies on upcoming projects during HACIA’s Annual Banquet, celebrated recently at the Hilton Hotel in Chicago. Jorge Pérez, HACIA Executive Director expressed his gratitude for the Foundation’s position. “We are extremely excited that the Obama Foundation has committed to utilizing HACIA Members and other Hispanic Firms in the development of the Obama Presidential Center. This is a once in a lifetime opportunity for the City of Chicago, our State, and Country,” he said in a statement to Negocios Now.” “So not only did Hispanics help Obama get…

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USHCC President and CEO Javier Palomarez resigns

The President and CEO of the US Hispanic Chamber of Commerce (USHCC), Javier Palomarez resigned his position, the organization reported. The resignation takes place after  The New York Time reported an allegation of sexual harassment and alleged mismanagement of funds, which was immediately denied by Palomarez and now confirmed by the USHCC Board of Directors after an independent investigation. “Working with outside attorneys and auditors for the past three months, and in response to the allegations of a former board member and a former employee, the Board of Directors conducted a thorough review of the allegations of financial and sexual misconduct by of its President and CEO, Javier Palomarez. In the end, the Board has determined that there is no evidence of misconduct or financial, labor or sexual misconduct, “the USHCC says in a statement. The president of the Board of Directors of the USHCC, Don Salazar, thanked Palomarez…

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