Marlborough, MA, April 08, 2019 --(PR.com
)-- The Executive Office of Labor and Workforce Development (EOLWD) has awarded Workforce Training Fund Program (WTFP) grants totaling $292,626 to three Marlborough-based businesses.
Atlas Travel & Technology Group was awarded $174,016 to train 92 workers and anticipates adding 9 jobs by 2021. New England Cryogenic Center was awarded $42,160 to train 37 workers and anticipates adding 2 jobs by 2021. New England Optical Systems was awarded $76,450 to train 24 workers and anticipates adding 6 jobs by 2021.
Funded by Massachusetts employers via contributions made to unemployment insurance, the Workforce Training Fund helps companies improve productivity and competitiveness by providing resources to invest in the Massachusetts workforce. In partnership with EOLWD, Commonwealth Corporation reviews and awards training grants of up to $250,000 to Massachusetts businesses and consortia of businesses to fund training for current and newly hired employees. Grants are awarded on a rolling basis throughout the year. In 2018, 926 Massachusetts employers were approved for more than $21 million in WTFP grant-funded training to train 15,278 workers.
The program is a powerful tool to create new jobs, increase skills and opportunities for workers, and maintain the economic strength and viability of the Commonwealth's businesses. Companies who completed grants in FY 2018 added jobs at a rate of 11.9%, more than three times the statewide average of 3.8%. This resulted in 2,233 new jobs, which is 50% more than the 1 ,485 new jobs proposed by grantees when applications were submitted.
“I strongly believe in workforce training as an important part of both individual business expansion and local economic growth,” said Marlborough Mayor Arthur Vigeant. “When local employees build on their skills, they add to the productivity and profitability of their companies. The employees are then able to earn and spend more, while the employers can grow further within the community.”
“The speed of technological innovation has made workforce training an essential element of business growth,” said Marlborough Economic Development Corporation (MEDC) executive director, Meredith Harris. “Employers, who want to integrate new technologies into their operating systems, often end up creating new jobs that didn’t exist before. Since re-training employees or seeking new qualified hires can be prohibitively expensive for smaller organizations, access to these types of grants is critical.”
About the Workforce Training Fund:
The Workforce Training Fund Program (WTFP) helps address business productivity and competitiveness by providing resources to Massachusetts businesses to fund training for current and newly hired employees. To learn more about the program, go to http://workforcetrainingfund.org or contact Jessica Muradian, EOLWD Deputy Chief of Staff at (617) 626-7123 or Jessica. Muradian@statc.ma.us.
The Marlborough Economic Development Corporation (MEDC) is the state chartered economic development corporation for the City of Marlborough, MA and represents a public-private partnership for planning. MEDC works with municipal and private investors to foster economic development, job growth and community revitalization.
For a complete overview of MEDC, visit MarlboroughEDC.com.