NORTH CANTON, Ohio — U.S. Secretary of Labor Elaine L. Chao today joined U.S. Rep. Ralph Regula of Ohio at Stark State College of Technology in North Canton to present a $1,178,425 grant to prepare youth for careers in the financial services industry. This grant is part of the President’s High Growth Job Training Initiative, a strategic plan to prepare workers for jobs in expanding industries.

“Our nation is transitioning to a knowledge-based economy, in which higher skills and more education are at a premium. Millions of new jobs have been created in industries that did not even exist a generation ago and the growing sectors in Canton mirror the national trends,” said Secretary Chao. “But this new job growth comes with a caveat: most of the new jobs over the next decade will require a four-year or two-year college degree or specialized training such as an apprentice program. Fortunately, institutions of higher learning like Stark State College are helping to close the skills gap.”

The grant, awarded on July 18 and administered by the Ohio Board of Regents, will test the Jobs for America’s Graduates (JAG) model to connect out-of-school youth with entry-level jobs in the financial services sector.

“At a national level, the project will develop a model to help out-of-school youth access training and opportunities in the growing financial services industry,” said Secretary Chao. “It will help young people complete their high school education and place them in an entry-level job leading to a career or post-secondary education.”

“I am very pleased to welcome Secretary Chao to Canton today for this exciting announcement,” said Congressman Regula. “Today's young people can most effectively compete in the challenging global economy when they have the necessary job skills. This additional job training funding to our community will greatly benefit them and help strengthen northeast Ohio's economy.”