Nine Counties: Wayne, Lackawanna, Pike, Monroe, Northampton, Lehigh, Carbon, Luzerne, Berks
Target Industries: Financial Services (backup system for NYC), Telecommunications Security
Historically, Northeast Pennsylvania was an economy driven by coal and steel. Over the last several years, however, this region has completed several important research and planning activities necessary to transform its economy to become a region that serves as secondary operations, financial institutions - also known as Wall Street West.
Northeast Pennsylvania is focusing on five facets of transformation:
- Connectivity: Building the Infrastructure - In order to meet the telecommunications needs for Wall Street West, private and public sector resources are united to build the broadband network between Northeast Pennsylvania and New York City.
- Creating the Talent Pool -Wall Street West looks to utilize a variety of education and training programs to:
- Industry specified curriculum;
- Retraining to the region's large population of dislocated workers,
- Career ladders and current worker training to help workers advance;
- A pipeline of workers through high school programs;
- Increase the numbers of students engaged and completing post-secondary education; and
- Creating internships for high school and college students.
- An Innovation Environment -Through expansion of Keystone Innovation Zones and University partnerships with community-based organizations, Wall Street West will continue to build a regional environment that supports technology transfer, research partnerships and entrepreneurial activity.
- Strategic Investment - By increasing the coordination of existing economic development and investment programs, Wall Street West proposes targeted investment in business expansion, attraction and start-ups, along with technology development in the financial services sector.
- Stronger Regional Partnerships - In order to sustain momentum, Wall Street West will build on the existing Northeast Pennsylvania Telecom Working Group to strengthen partnerships and ongoing strategic collaboration between workforce investment organizations, education and economic development partners.