Bank of America Awards $1 Million to St. Petersburg College to Strengthen Tampa Bay's Workforce Pipeline

Rhea-AI Summary

Bank of America awarded St. Petersburg College a $1 million grant aimed at enhancing economic mobility in the Tampa Bay region. The partnership focuses on placing a minimum of 500 students into high-wage careers over the next three years, particularly targeting students of color and those facing financial challenges. This initiative includes creating a concierge-based service model and a centralized alignment office to connect education with industry needs. This grant is part of the bank's broader $1.25 billion commitment to advancing racial equality and economic opportunity.

Positive

• Award of $1 million grant to expand student job placements.
• Projected placement of 500 students into high-wage jobs, enhancing the workforce.
• Focus on supporting students of color and those from low-income backgrounds.

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• None.

ST. PETERSBURG, Fla., Jan. 25, 2022 /PRNewswire/ -- St. Petersburg College (SPC) announced today a partnership with Bank of America to increase economic mobility in the Tampa Bay region and address the needs of employers in key industries. Bank of America awarded SPC a $1 million grant to support the job placement of students who are near the end of their educational pathway with a focus on students of color and those struggling financially to achieve their career goals.

Over the next three years, SPC is projected to place a minimum of 500 students into high-wage, in-demand careers by building a sustainable talent ecosystem for the future by:

• Developing a concierge-based service delivery model to place students from across the region into employment opportunities targeting information technology, business, and finance and professional services industry sectors
• Creating a centralized alignment office that serves as the primary source of information and translation between business and education across the Tampa Bay region

"SPC is excited to collaborate with Bank of America to strengthen the workforce in the Tampa Bay region by better connecting the talent supply with industry demand," SPC President Dr. Tonjua Williams said. "We know that by working together we will help students prepare for - and transition into - higher paying jobs that result in economic prosperity, especially for those with limited means."

Bank of America last year announced a $1.25 billion, five-year commitment to help advance racial equality and economic opportunity. The bank's support of organizations like SPC is a direct result of this commitment, which focuses on direct action in communities of color where systemic, long-term gaps have existed, and significant change is required to achieve sustainable progress.

"We recognize the importance of connecting young adults with meaningful employment opportunities," said Bill Goede, President, Bank of America Tampa Bay. "Through our partnership with SPC, we are helping to build a stronger pipeline of diverse talent, contributing to a thriving Tampa Bay community."

SPC will lead this collaboration among regional education institutions, businesses and other sector partners taking part in the initiative. SPC is committed to serving the region by helping to improve job placement outcomes for students and improve the speed and efficiency of talent acquisition for employers.

Bank of America

At Bank of America, we're guided by a common purpose to help make financial lives better, through the power of every connection. We're delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It's demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact.

For more Bank of America (NYSE: BAC) news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

St. Petersburg College

St. Petersburg College alumni rank 1st in the state of Florida for possessing the most valuable job skills among two-year colleges. Founded in 1927, SPC is Florida's first two-year college and the first to offer bachelor's degrees. We offer more than 110 degree and certificate programs, including many high-demand, high-skill industry-recognized workforce certifications. Our career-focused curriculum is created with input from industry experts to give students the skills they need to meet the needs of today's employers.

Reporters may contact:

Matthew Daily, Bank of America      
Phone: 1.404.607.2844
matthew.daily@bofa.com

Rita Farlow, St. Petersburg College
Phone: 1.727-302-6526
farlow.rita@spcollege.edu

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SOURCE Bank of America Corporation

FAQ

What is the purpose of the Bank of America grant to St. Petersburg College?

The grant aims to enhance economic mobility by placing students into high-wage careers and addressing workforce needs in the Tampa Bay region.

How much funding did Bank of America provide to St. Petersburg College?

Bank of America awarded a $1 million grant to St. Petersburg College.

How many students does St. Petersburg College aim to place with the Bank of America grant?

St. Petersburg College aims to place a minimum of 500 students into high-wage careers over the next three years.

What industries are targeted by the partnership between Bank of America and St. Petersburg College?

The partnership targets information technology, business, finance, and professional services industry sectors.

Is the Bank of America grant part of a larger commitment?

Yes, it is part of Bank of America's $1.25 billion five-year commitment to advance racial equality and economic opportunity.