Business
Celebrating the Hispanic Business Community and its Legacy in the Inland Empire
OPINION
By Chris Porro, Small Business Banking for Inland Empire, Bank of America
Although Hispanic Heritage Month is winding down, it gave us a unified opportunity to celebrate the richness and diversity of the Hispanic-Latino community and recognize our collective path forward to drive social and economic progress in Inland Empire. This year in particular, we recognize the resilience of Inland Empire small business owners impacted by a global health crisis who continue to serve our community.
In the Inland Empire where the Hispanic-Latino population now makes up more than half – 51.6% – of the total population according to recent analysis of the Census 2020 data, this population segment plays an integral part of our business community, there is no doubt Hispanic-Latino business owners contribute to the success of the Inland Empire.
This Inland Empire growth reflects the legacy and success that Hispanics have contributed to and experienced across California. A recent study commissioned and funded by Bank of America found that California’s Hispanic GDP grew to $706.6 billion in 2018 — the latest data available — and is poised to continue excelling into 2022 and beyond. In fact, from 2010-18, California’s Latino labor force grew nearly seven times as quickly as the non-Latino labor force and accounted for $706.6 billion in economic activity in California in 2018, bigger than the entire economic output of Ohio.
Nationally, this Hispanic-Latino GDP is breathtaking, with the total economic output of Latinos across the United States at $2.6 trillion. Today, Latinos account for nearly 80% of all net new businesses created, according to L’ATITUDE.
However, the past year was challenging for nearly every Hispanic entrepreneur, according to our recently released 2021 Hispanic Business Owner Spotlight. For example, 84% of respondents say they have changed, or plan to change, their approach to employee recruitment and retention as a result of the pandemic, but they also believe that strong talent contributes to their business success.
The Bank of America research also revealed that the Hispanic-Latino business outlook is strong, with 81% of Hispanic-Latino business owners expecting their revenue to increase over the next year, compared to 59% of non-Hispanic-Latino business owners – a significant difference in outlook. Their economic optimism and hiring plans also show sharp increases since last fall.
The survey also reconfirms that community values are strong among Hispanic business owners, noting an increase in family and community support over the past 12 months, and 60% have volunteered to help their local communities recover and thrive.
Our company, Bank of America, serves 12 million Hispanic-Latino clients, one million of whom are also business owners working to make a lasting positive impact on their communities.
We strive to serve this important segment by providing digital Spanish-language resources, hiring bilingual client-facing teams and investing in research like our annual Hispanic Business Owner Spotlight to better understand the unique experiences of these entrepreneurs, we are uniquely positioned to help our Hispanic clients and community continue to succeed.
We also invest in programs and partners, such as the Latino Business Action Network, which helps scale up minority-owned businesses, provides mentorship and offers growth opportunities. To help Hispanic-Latino and other underrepresented entrepreneurs have greater access to capital, Bank of America has provided $350 million in capital to minority-focused funds like Vamos Ventures and L’Attitude Ventures, which then invest growth capital into minority-led businesses.
Supporting Hispanic-Latino businesses not only helps nurture the rich diversity of our community, but more importantly, it helps strengthen our local economy as these businesses continue to grow, creating job opportunities and business owners give back to our community.
Ensuring long-term success for Hispanic entrepreneurs in the Inland Empire continues to be a priority for Bank of America this Hispanic Heritage Month and beyond.
Business
Inland Empire Celebrates Entrepreneurial Excellence at Spirit Awards Gala
Honoring Visionary Leaders Driving Innovation and Community Impact
The Spirit of the Entrepreneur Awards Gala, held at the Riverside Convention Center, celebrated the brightest entrepreneurial talent across the Inland Empire. Among the evening’s finalists was Edward Ornelas, Jr., President & CEO of the Inland Empire Regional Chamber of Commerce, who was honored in the Social Entrepreneur category for his outstanding leadership and commitment to the region.
Although Ornelas did not win, the Social Entrepreneur award went to Cesar Navarrete, President & CEO of Children’s Fund, a proud Chamber member. “Being a finalist alongside such remarkable leaders is an incredible honor,” said Ornelas. “I am especially thrilled to see Cesar, a Chamber member, recognized for the transformative work he’s doing to improve the lives of children in our community. It’s a proud moment for us all.”
Another highlight of the evening was the recognition of Hilda Kennedy, President & Founder of AMPAC Business Capital, another Chamber member, who was awarded the Top Female Entrepreneur category. Hilda’s leadership at AMPAC, a mission-driven business lender, has been instrumental in empowering small businesses and fostering economic growth across the region.
“It’s amazing to see leaders like Hilda and Cesar being celebrated for their contributions,” added Ornelas. “Their achievements underscore the talent and dedication of entrepreneurs in our Chamber and across the Inland Empire. They are setting the standard for excellence and impact in their fields.”
The evening also featured the prestigious “Best of the Best” Award, sponsored by Best Best & Krieger LLP, which was awarded to Mauro Gomez, Chief Growth Officer of Anita’s Mexican Foods Corp.. Based in San Bernardino, Anita’s Mexican Foods has grown from modest beginnings into a leader in the food production industry under Gomez’s strategic direction.
The Spirit of the Entrepreneur Awards Gala continues to shine a spotlight on the transformative work of Inland Empire entrepreneurs, celebrating their innovation, resilience, and commitment to the community.
For more information about the Spirit of the Entrepreneur Awards, visit https://www.spiritawardsie.com.
For more details about the Inland Empire Regional Chamber of Commerce and its members, visit www.iechamber.org.
Business
Inland Empire Chamber President Edward Ornelas, Jr. Named Finalist for Spirit of the Entrepreneur Awards
Celebrating Leadership and Innovation: Ornelas Recognized for Advancing Business Growth and Social Impact in the Inland Empire.
Edward Ornelas Jr., President of the Inland Empire Regional Chamber of Commerce and owner of the Inland Empire Business Journal, has been named a finalist in the famed 2024 Spirit of the Entrepreneur Awards. Ornelas is honored in the Social Entrepreneur category for his remarkable leadership and vision in fostering business growth and development across the Inland Empire. The award ceremony will take place on November 21, 2024, at the Riverside Convention Center, celebrating the best of entrepreneurship throughout the region.
The Spirit of the Entrepreneur Awards, often regarded as the “Oscars of Business” in the Inland Empire, recognizes the innovation, leadership, and impact of outstanding entrepreneurs across various sectors. Ornelas joins a select group of 34 finalists, each representing the entrepreneurial spirit and resilience that define the I.E. business community. The Social Entrepreneur category highlights individuals like Ornelas, whose work goes beyond profit to positively impact society.
In his role as President of the Inland Empire Regional Chamber of Commerce, Ornelas has been a powerful advocate for the business community, connecting small businesses with essential resources and creating opportunities for growth. As the owner of the IE Business Journal, the only publication in the region dedicated solely to business news, Ornelas has provided a platform for local businesses to thrive by sharing their stories and promoting their success. His innovative, forward-thinking approach to marketing has earned him a reputation as a “visionary” and a “get-things-done” leader across both public and private sectors.
“I’m deeply honored to be recognized as a finalist for the 2024 Spirit of the Entrepreneur Awards. This nomination is a reflection of the incredible businesses and community leaders across the Inland Empire who inspire me every day. At the Inland Empire Regional Chamber of Commerce, our mission is to empower businesses and foster economic growth, and this recognition highlights the collective efforts of our entire community. I’m excited for what the future holds as we continue to work together to make a lasting impact,” said Ornelas.
Other notable finalists for the 2024 Spirit of the Entrepreneur Awards include leaders in healthcare innovation, green technology, and digital transformation. Each finalist, selected by a distinguished panel of judges, represents the best in their respective industries and contributes to the Inland Empire’s continued growth as a hub of innovation and entrepreneurship.
The Spirit of the Entrepreneur Awards is an annual event that brings together business leaders, community advocates, and entrepreneurs to celebrate the entrepreneurial excellence that drives the region’s economy. This year’s event promises to be a night of inspiration and recognition, showcasing the achievements of finalists like Ornelas, who continue to elevate the Inland Empire’s business landscape.
For more information about the Spirit of the Entrepreneur Awards and to see the full list of finalists, visit www.spiritawardsie.com.
Business
CBRE Opens Newly Renovated, Tech-Enabled Office in the Inland Empire
The office is designed to support hybrid work and employee wellbeing
CBRE announced the opening of its new 10,159-sq.-ft. office suite on the ground floor of 4141 Inland Empire Blvd., in Ontario, Calif.
The office is part of CBRE’s Workplace360 program, which features innovative office designs and functionality, including in-office technology and a wider variety of collaborative spaces designed to support hybrid working. CBRE launched its Workplace360 program over a decade ago in its downtown LA office. Since then, the company has opened more than 100 Workplace360 offices worldwide, continually updating the program as work habits have changed over the years, especially with the increase in hybrid work.
“Our newly renovated space provides us with a great opportunity to deliver a collaborative, experience-driven workplace that supports hybrid work,” said Ian Britton, managing director and market leader for CBRE in Inland Empire. “Our Workplace360 office will also serve as a showpiece to help clients conceptualize flexible work strategies for their employees.”
The renovated office has several different work areas including focus, huddle, living, and conference rooms. The open-space lobby, known as the “Heart,” features a variety of seating and a communal space for collaboration. A large 86” media display with a speaker system welcomes employees, visitors, and clients and assists with onsite events.
New office technology, including touch-enabled video conference rooms, allows for hybrid work collaboration between in-office and remote employees and clients. Additionally, the Mt. Baldy conference room has Liquid Galaxy, a geospatial visualization platform set across large format curved screens providing a cinematic presentation experience. This room has an operable wall that opens to the Heart, creating an onsite event space.
A cornerstone of the Workplace360 model is its free-address approach, in which there is no dedicated seating. The free-address approach allows employees who are in the office on a given day to use any workstation or office.
The office’s design led by CBRE Design Collective, took inspiration from the Inland Empire’s orange groves and mountainous landscapes of Mt. Baldy. Images of Route 66 from local photographer VC Torneden features the role the highway plays in the area.
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