Wall Street West

Wall Street West

Wall Street West is a not-for-profit partnership in Northeastern Pennsylvania that is enhancing the financial services, information technology 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 nine-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 the Ben Franklin Technology Partners of Northeastern Pennsylvania acting as the project manager, 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.

WIRED Grants

In order to fulfill the goals of the the Wall Street West Initiative, the group has obtained more than $15 million in funding from the U.S. Department of Labor. On October 23rd, 2007, more than $600,000 in financial job training and education funds were distributed to six groups:
*Bridging the Gap (A collaboration of Right Reason Technologies and East Stroudsburg University)
*Workforce Development Program for Financial Services (Lehigh Valley Workforce Investment Board and Lehigh University)
*Financial Literacy Institute for Junior and High School Teachers and Students (University of Scranton and College Misericordia)
*KIZ Intern Program (Created by the state Keystone Innovation Zone programs)
*Wall Street West Academy (Lehigh Carbon Community College)
*Originate Ventures Internship (created by Originate Ventures) [cite web
title = East Stroudsburg group wins Wall Street West grant
url = http://www.poconorecord.com/apps/pbcs.dll/article?AID=/20071024/NEWS/710240336/-1/NEWS01
format = HTML
doi =
accessdate = 2007-10-29] .

Sources

http://www.wallstreetwest.org


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