Wall Street West
125 Goodman Drive
Bethlehem PA 18015
Phone: (610) 758-5219
Fax: (610) 861-5918
Wall Street West is a partnership of more than two dozen economic development agencies, technology investment groups, workforce development organizations, educational and research institutions and private-sector experts from throughout Northeastern Pennsylvania. The program is a federal- and state-funded initiative to develop a total back-up solution for companies in financial services, information technology and related industries through advancements in economic and workforce development.
In February 2006, the initiative secured a $15 million Workforce Innovation in Regional Economic Development (WIRED) grant from the U.S. Department of Labor for projects and programs associated with training the current and future workforce in the region in order to further encourage New York City-based companies to establish their back-up and back-office operations in the ten-county area (Berks, Carbon, Lackawanna, Lehigh, Luzerne, Monroe, Northampton, Pike, Schuylkill and Wayne).
Wall Street West is helping to preserve the sanctity of all U.S. industries that need to safeguard information. This initiative is the only program of its kind addressing all the recommendations outlined in an interagency paper from the Securities and Exchange Commission, Federal Reserve and Office of the Comptroller that calls on major financial firms to have backup operations outside of New York's power and water infrastructure. With much of the ten-county region just a 90-minute drive from Manhattan, Northeastern Pennsylvania offers the ideal combination of safety vs. accessibility.
In addition to location, the region covered by the Wall Street West program offers significant business and quality-of-life advantages. Northeastern Pennsylvania boasts a highly educated, efficient workforce and low operating costs. More than 49,000 students are matriculating at dozens of local colleges and universities in the area, and many of these emerging professionals are eager to remain in northeastern Pennsylvania.
Other benefits of the area include excellent public school systems, a low-cost of living, affordable and available real estate and a wide array of outdoor and cultural activities.