READING – State Representative Richard Haggerty (D-Woburn) is pleased to see the Executive Office of Labor and Workforce Development (EOLWD) award a training grant from the Workforce Training Fund Program to the Reading Cooperative Bank. The $106,600 grant will help train 72 workers, with sevenadditional jobs expected by 2026.
“It’s great to see the Reading Cooperative Bank receive this grant funding through the Workforce Training Fund Program,” said Representative Haggerty. “These programs not only set our workforce up for success with the training and skills they need to stay ahead in today’s ever-changing job market, but also help our local businesses improve productivity and competitiveness. Such investments are important in strengthening economic growth and creating opportunities within our community.”
The Workforce Training Fund helps companies improve productivity and competitiveness by providing resources to invest in the Massachusetts workforce. The program is funded by Massachusetts employers via contributions made to unemployment insurance. In partnership with EOLWD, Commonwealth Corporation reviews and awards training grants of up to $200,000 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 with 97 grants, currently being announced, involving 125 employers, to train 6,651 individuals, resulting in 1,490 new jobs expected to be added by 2026.
In addition to the General Program grants announced, the Workforce Training Fund addresses smaller-scale training needs via the Express Program. Express grants are available at any time throughout the year to small businesses to train their employees. The streamlined process is designed for ease of access for those businesses that don’t have the capacity for General Program grants.
