SWANSEA – BayCoast Bank was awarded $235,200 from the Mass. Workforce Training Fund Program to help 371 workers grow in their jobs and increase their workplace opportunities over the next two years, the bank announced Thursday.
The grant was awarded to a consortium of businesses related to BayCoast in Swansea or nearby, including BayCoast Mortgage Co., Partners Insurance Group, Plimoth Investment Advisors and Priority Funding in Northborough.
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The grants are also expected to create 30 jobs at BayCoast and its related businesses.
“We are delighted to be named a Workforce Training Fund grant recipient,” said Nicholas Christ, president and CEO of BayCoast Bank. “This important grant will allow us to train a new wave of employees to ensure that our consistent growth continues.”
The program is overseen by the Mass. Executive Office of Labor and Workforce Development and is administered by Commonwealth Corp., a quasi-public state agency.
BayCoast was one of 12 entities to receive funding in this round of grants, which ranged from $10,000 to $250,000 for a total of $1.5 million. The program said that this round of grants will fund training for 1,141 workers and are expected to create 223 new jobs in Massachusetts.
“These investments keep our businesses at the forefront of new and emerging industries, create jobs and opportunity across Massachusetts, and allow our small businesses to remain competitive in a dynamic global market,” said Gov. Charlie Baker.
The grants allow employers to create customized training, but it was not immediately clear what type of training or training programs will be implemented by BayCoast.
