SWANSEA – BayCoast Bank has pledged a $150,000 grant over three years to help develop in southern Massachusetts a “supercluster” of businesses and institutions working in the marine science and technology sector.
This Blue Economy Initiative is a collaboration between the University of Massachusetts Dartmouth and the SouthCoast Development Partnership.
The initiative will create a cooperative environment for institutions, businesses and universities working on robotics, oceanography, renewable and nonrenewable energy, biotechnology, communications hardware, information technology, advanced materials and civil engineering.
“It is a privilege to invest in a project that will improve the quality of life for residents throughout the region,” said Nicholas Christ, CEO and president of BayCoast Bank and co-chair of the SouthCoast Development Partnership.
Over three years, the project will develop a plan and build support for economic opportunities in engine and turbine manufacturing, wind and hydro power generation, nautical systems manufacturing and coastal water transportation technologies.
Mary Lhowe is a PBN contributing writer.
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