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Pennsylvania WIRED Grant Supports Homeland Security

July 9th, 2007 Posted by Amelia

A new federal program made possible by a WIRED grant will create the infrastructure to maintain nationwide financial services operations in the event of a major terrorist attack or a natural disaster. The program will establish a fiber optic network to link New York City’s financial services district to northeast Pennsylvania, a region often referred to as “Wall Street West”.

The program, a cooperative effort between Ben Franklin Technology Partners, the Department of Labor and regional leaders, will make it possible to quickly relocate the seat of the nation’s economy in case of an emergency.

“This is an especially productive application of the Workforce Innovation in Regional Economic Development Initiative, which northeast Pennsylvania has been participating in since the beginning,” said Secretary of Labor Elaine L. Chao from the department’s headquarters in Washington. “Northeast Pennsylvania will be positioned for a significant financial services presence and in so doing perform a public service by providing backup for New York-based entities that are critical to America’s economic security.”

The department launched the Workforce Innovation in Regional Economic Development (WIRED) Initiative in February 2006 with 13 regions across the country successfully competing for $15 million each over a three-year period. WIRED seeks to transform economies by enlisting the efforts of regional leaders to research and execute long-term strategic plans that build their areas’ talent bases and prepare them for the high-skill, high-wage opportunities of the 21st century global economy.

“Today’s good news allows northeast Pennsylvania to take the next step of building a financial services talent pipeline filled with young people eager to start their lives in the region, as well as transitioning and experienced workers looking to make a new start,” said Assistant Secretary of Labor for Employment and Training Emily Stover DeRocco, who participated in the Pocono Manor event where the announcement was made.

Level 3 Communications, Inc. was chosen by the state of Pennsylvania and the U.S. Department of Labor to link the two regions. The Wall Street West initiative is based on recommendations from the Federal Reserve, the Securities and Exchange Commission, and the Office of the Comptroller of the Currency urging financial services firms to establish reliable backup solutions outside of New York City.

The U.S. Labor Department launched the popular WIRED grant initiative in late 2005 with a competition among the nation’s governors. In February 2006, 13 competitively selected regions were awarded a total of $195 million to transform their economies. In January 2007, 13 additional regions, which also were among the best nationally, were presented awards to reposition their regional economies. Today’s announcement launches the third generation of selected regions.

According to sources at the U.S. Department of Labor, Generation III WIRED projects are as varied and unique as the regions themselves. A grant will allow residents of rural Minnesota to use their know-how and ingenuity in agriculture to grow emerging bioscience and renewable energy industries. A grant to Central New Mexico will combine the capabilities of industry, research and development at its universities, and national laboratories to become a focal point for clean energy and advanced manufacturing. And a grant for Oregon’s Northern Willamette Valley will align regional services to respond to needs for talent in advanced manufacturing and other industries.

Northeast Pennsylvania was one of 13 regions chosen in 2006 as part of the first generation of the WIRED Initiative. WIRED goes beyond traditional strategies for worker preparation by bringing together state, local and federal entities; academic institutions (including K-12, community colleges and universities); investment groups; foundations; and business and industry to address the challenges associated with building a globally competitive and prepared workforce.