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New Jersey’s leading minority-owned firms smashed records in 2024. Their combined earnings topped $20 billion, with tech giant SHI International Corp leading at $15 billion.
Thai Lee’s Somerset-based SHI International dominates the field. Since 1989, this tech powerhouse has grown from a small startup into a global force in IT products and services.
In Jersey City, Goya Foods hit $1.5 billion in sales. Started by the Unanue family in 1936, this food maker stocks Hispanic kitchens across America.
At East Windsor, Aurobindo Pharma USA reached $1.04 billion, making generic drugs. Biren Shah and Swami Iyer’s venture has grown steadily since 1986.
Berkeley Heights-based Axtria, a data firm started by Jaswinder and Navdeep Chadha, earned $811.9 million. Their software helps drug companies work smarter.
Ranjini Poddar’s IT staffing firm Artech, based in Morristown, brought in $767 million. The company matches tech talent with top employers nationwide.
Asian Indian owners run 13 firms on the list. Five companies have African-American leaders, while three operate under Hispanic ownership. This mix shows New Jersey’s rich business roots.
Top 5 Minority-Owned Businesses in New Jersey by Revenue are:
- SHI International Corp – $15 billion
- Goya Foods – $1.5 billion
- Aurobindo Pharma USA – $1.04 billion
- Axtria – $811.9 million
- Artech – $767 million
The post Top 25 Minority-Owned NJ Businesses Pull in Over $20B Revenue in 2024 appeared first on WMTR AM.
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