Wall Street West
125 Goodman Drive
Bethlehem PA 18015
Phone: (610) 758-5219
Fax: (610) 861-5918
Keystone College, Lehigh University and Northampton Community College to receive more than $375,000 for new projects
NORTHEASTERN PENNSYLVANIA - With the debate for improved education and workforce development ongoing throughout the commonwealth and nation, Wall Street West forges ahead in making strategic investments to generate long-term dividends for the ten-county region. To continue towards this goal, the initiative has partnered with three regional institutes of higher education on three new workforce development projects.
"Because a number of governmental funding streams are in question, it is essential that we utilize the current funding streams that we have available to us," said Chris Haran, Wall Street West Human Capital Committee Co-Chair. "With these most recent awards, Wall Street West continues to fund quality workforce development projects that will benefit the residents of Northeastern Pennsylvania now and in the future."
The following projects have received more than $375,000 in funding by Wall Street West through the U.S. Department of Labor's Workforce Innovations in Regional Economic Development (WIRED) grant. This will be supplemented with matching funds by the recipient:
"These projects represent a focus on improving the strengths in education and business that exist in Northeastern Pennsylvania," said Vito Gallo, Wall Street West Human Capital Committee Co-Chair. "With supplemental funding for these quality programs, as with all Wall Street West projects, we are creating a base for long-term workforce sustainability."
With these new projects, the total number of Wall Street West workforce development projects has reached 55, most of which are documented in the Wall Street West Investment Portfolio. Among the other milestones achieved thus far by the initiative are:
Wall Street West is a not-for-profit partnership in Northeastern Pennsylvania that is enhancing the financial services, information technology, healthcare and related industries in the commonwealth through strategic workforce development and state-of-the-art economic development. Stemming from an interagency report by the Securities and Exchange Commission (SEC), the Federal Reserve and the U.S. Department of the Treasury - whose recommendations make the ten-county region an optimal geographic location for secure data back-up and back-office operations - the goal of Wall Street West is to work with firms in New York City and the surrounding metropolitan threat zones to establish supplemental facilities to safeguard data, fund the education and training of a growing workforce, and expand the competitiveness and potential of these industries.
The Wall Street West partnership is made up of the top-tier economic development agencies; technology investment groups; workforce development organizations; education and research institutions; and private sector companies in the region. With oversight from the Pennsylvania Department of Labor and Industry and the Ben Franklin Technology Partners of Northeastern Pennsylvania, Wall Street West has federal support through a $15 million Workforce Innovation in Regional Economic Development (WIRED) grant from the U.S. Department of Labor for education and job training, as well as a combined $24 million commitment by the U.S. Department of Commerce, the Pennsylvania Department of Community and Economic Development, and private industry to enhance existing infrastructure.
For more information on the Wall Street West partners and programs, please call 610-758-5233 or visit www.wallstreetwest.org.