$2.74M job training grant awarded at NVCC ceremony

Money will help state fill need for ‘tremendous number’ of skilled workers in financial services, insurance industries

WATERBURY (Sept. 8, 2006) — Secretary of Labor Elaine L. Chao today joined Rep. Nancy Johnson on the campus of Naugatuck Valley Community College to announce the award of a $2,748,405 grant to the Connecticut Department of Economic and Community Development to help train workers for the financial services and insurance industries.

From left to right: NVCC President Sanders, Chancellor Marc Herzog, U.S. Secretary of Labor Elaine L. Chao, Congresswoman Nancy Johnson, NCC President Levinson, CCC President Woodland

Grant partners include the Connecticut community college system, The Workplace Inc., Capital Community College and the Connecticut Insurance and Financial Services Cluster.

“This $2.74 million grant will help make possible the first two-year insurance and financial services degree program in Connecticut," said Secretary Chao. "The curriculum will also prepare students to enter degree programs to become certified public accountants and financial advisers and will serve as a model throughout Connecticut for developing the future insurance and financial sector workforce.”

“Connecticut will need a tremendous number of skilled workers in the coming years," she said. “By 2012, Connecticut will need 49 percent more personal financial advisors, 49 percent more medical assistants, 43 percent more broadcast technicians, 40 percent more network systems and data communications technicians and 37 percent more motorcycle mechanics.”

The grant will help a minimum of 275 presently-employed workers, and 125 dislocated or unemployed workers receive the additional training in the financial and insurance services fields. Connecticut's unemployment rate was at 4.3 percent in July compared with the national average of 4.7 percent with 32,500 payroll jobs added in the state since September 2003.

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