WILMINGTON, Del., Oct. 8, 2019 /PRNewswire/ -- The JPMorgan Chase
Foundation has awarded a $205,000
workforce readiness grant to the Delaware Prosperity Partnership
(DPP), the state's lead economic development organization, to
create a plan for a more inclusive tech talent pipeline.
The demand for technologists continues to grow, with national
forecasters predicting that, by 2020, there will be 1.4 million
open positions that require tech skills, but only 400,000 people
qualified to fill them.
Delaware, with its robust
business and financial services sector, is well suited to respond
to the demand. Across the state, eight colleges and universities,
224 public and charter schools, and a $21
million workforce system are poised to equip residents with
the skills they need. In addition, the number of non-degree tech
programs (i.e. boot camps and accelerated courses) has grown
rapidly in the past few years.
However, despite these programs, there is a need to prepare more
residents to enter tech roles and expand opportunities in the
sector, especially amongst people of color and individuals from
low-income communities.
"Creating a more inclusive tech talent pipeline is critical,"
says Kurt Foreman, President and CEO
of the DPP. "A diverse workforce leads to diversity of thought,
which is key to innovation. We are privileged to serve as convener
and connector for this project, which will ensure that Delaware continues to lead the nation as a
place to do business."
This project, funded by JPMorgan Chase, will develop a plan that
positions Delaware to meet
employers' tech talent needs over the next decade with homegrown
talent from diverse communities across the state, and ensure clear
pathways for individuals with barriers to employment or who are
historically underrepresented in tech. The project includes two key
elements:
- A thorough analysis of the current and anticipated tech job
market, the supply of qualified applicants, and the current
educational and non-profit capacity to meet the demand.
- A strategic plan to identify how Delaware can address the talent gap that
exists and improve the inclusiveness of the pipeline.
"This plan will help position Delaware to retain existing businesses and
attract new ones by strengthening the support system that prepares
Delaware residents for the jobs of
the future," says Tom Horne,
Delaware Market Director at JPMorgan Chase. "We are proud to
partner with Delaware Prosperity Partnership to advance career
pathways in tech and promote inclusive economic growth across the
state."
DPP will lead the process, working with a statewide advisory
committee of key stakeholders and external consultants, conducting
the audit of the current tech landscape, and facilitating the
development of key strategies to address the identified gaps.
About Delaware Prosperity Partnership
Created in 2017,
Delaware Prosperity Partnership (DPP) is a nonprofit, public
private partnership that leads the state of Delaware's economic development efforts to
attract, grow and retain businesses. DPP works with site selectors,
commercial developers and business executives focused on where to
locate or grow a business. The DPP team's services include working
with prospects to review potential sites, cost-of-living, and
funding opportunities, including available tax credits and
incentives. For more information, visit www.choosedelaware.com.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial
services firm with assets of $2.7
trillion and operations worldwide. The Firm is a leader in
investment banking, financial services for consumers and small
businesses, commercial banking, financial transaction processing,
and asset management. A component of the Dow Jones Industrial
Average, JPMorgan Chase & Co. serves millions of customers in
the United States and many of the
world's most prominent corporate, institutional and government
clients under its J.P. Morgan and Chase brands. Information about
JPMorgan Chase & Co. is available at www.jpmorganchase.com.
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SOURCE Delaware Prosperity Partnership