Gov. gives $250G grant to Eastern Bank

LYNN - Gov. Deval Patrick visited Lynn Friday to award a $250,000 workforce training grant to Eastern Bank.

Speaking at the Lynn Area Chamber of Commerce, the governor explained that the funds help the bank better train and retain its sales staff and create new entry-level jobs as those employees ascend through the corporate ranks.

According to Patrick, the Workforce Training Fund grant is part of his administration's "comprehensive strategy to make investments that will create a culture of opportunity focused on restrained spending and long- and short-term investments, while preparing for the impacts of a softening national economy."

The grant, which requires matching funds from the recipient, will be administered by the state Department of Workforce Development under the Executive Office of Labor and Workforce Development.

Labor and Workforce Development Secretary Suzanne Bump, who met with Lynn government and business leaders twice in the past year, vowed earlier this week to expedite the release of more than $18 million in grants to 200 companies throughout Massachusetts, with a goal to train more than 16,000 workers.

At Eastern Bank, employee sales training is comprised of three specific programs: Growing Your Business, which defines the sales process and teaches employees to retain and expand client relationships and create new business; Best Practices in Sales, a series of 10 modules that provide training on critical techniques to maximize success; and Sales Management/Coaching, which gives sales managers the skills to coach staff.

Nancy Huntington Stager, senior vice president and director of human resources at Eastern Bank, said the company currently spends $1 million annually on training. "We can do a lot more training with this grant," she said, noting that the bank has 500 employees in Lynn, representing a third of its workforce.

Since its inception in 1999, the Workforce Training Fund program has awarded more than 4,100 grants totaling more than $150 million to train 208,000 Massachusetts workers, Bump said.

Bump said the funds represent an investment in the state's economy because the grants help pay for training to bridge the gap between the skills workers have and the skills they need to succeed in the future.

The governor also announced his intention to restructure some of the state's debt in order to pay for needed roads and bridges repairs statewide.

July 2009

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