SCHNECKSVILLE - Continuing its commitment to building an integrated and sustainable economic and workforce development system, Wall Street West has allocated more than $500,000 in WIRED funding to develop programming that will boost the skill set of workers in northeastern Pennsylvania.  These funds will be allocated to the second round of Innovation Investment recipients.  Additionally, Wall Street West has launched its Gap Investments program, which was developed to ensure the workforce and an aligned education and training system are in place to attract and sustain a financial services sector in northeastern Pennsylvania.

Announcement of the new funding came during a briefing at Lehigh Carbon Community College in Schnecksville.  Several institutions of higher education in northeast Pennsylvania are among the recipients.

“These programs reinforce the region’s commitment to educating and training the workforce of the future in the financial services industry,” said Susan Shaffer, Director of Workforce Initiatives, Wall Street West.  “We are excited to be investing these funds and are confident that they will aid in providing the regional workforce with the tools they need to be successful.”

The Gap Investments are intended to develop a collaborative regional workforce training and delivery system to support the financial services sector.  Submissions will be evaluated on multiple criteria, including collaboration, regionalism, transferability, sustainability, demand/industry driven approach and innovation.

The Gap Investment program was implemented to address the results of a recent gap analysis, which acknowledged focus areas to better connect the available workforce with the needs of the financial services industry.  The region, like many others across the country has room for improvement, but with about 2,000 students pursuing degrees in the financial services industry, and over 63,000 students attending baccalaureate colleges and universities and another approximately 29,000 enrolled in community and two year colleges, many highly-qualified employees are in the education pipeline of northeastern Pennsylvania.

Interested parties should submit pre-proposals by March 14, 2008.  A select number of applicants will then be asked to develop a full proposal for submission by April 18, 2008.  Grant recipients will be announced in May 2008.  Applications and additional details can be obtained at www.wallstreetwest.org.

Wall Street West is funded through the U.S. Department of Labor Educational and Training Administration WIRED initiative, Workforce Innovation in Regional Economic Development