BankFive President and CEO William Eccles Jr. and UMass Dartmouth Chancellor Robert E. Johnson
Fall River-based BankFive has pledged $75,000 over a three-year period to the University of Massachusetts Dartmouth and the SouthCoast Development Partnership to support regional development through “blue economy”-related industry and workforce training opportunities.
“Blue economy” refers to the sustainable use of ocean resources for economic growth.
The funding from BankFive comes at the beginning of the second year of the university’s Southeastern Massachusetts blue economy corridor initiative. The project’s first year produced a report that analyzed the region’s various marine science and technology industries and companies.
In the second year the UMass Dartmouth-based SouthCoast Development Partnership will create a “blue corridor alliance” that includes companies, non-profit organizations, higher education and research institutions engaged in marine science and technology sectors.
“BankFive and UMass Dartmouth have a shared mission of strengthening the Southcoast community through economic development initiatives,” BankFive President and CEO William Eccles Jr. said in a statement. “This is an exciting time for the Southcoast, and we are thrilled to partner with UMass Dartmouth to better understand the impact of the burgeoning global blue economy on local fisheries, maritime transport, tourism, energy production, agriculture and others sectors.”
“UMass Dartmouth is grateful for BankFive’s vision and commitment to growing our local economy through innovative partnerships in the blue economy,” UMass Dartmouth Chancellor Robert E. Johnson said in the statement. “By convening key marine science and technology stakeholders in industry, academia and government on the SouthCoast and beyond, we will enable our region to become more globally competitive.”
By leveraging the region’s historical strengths in maritime-related industries, UMass Dartmouth and BankFive plan to empower the workforce that will fuel fields such as biotechnology, advanced materials manufacturing, renewable energy, oceanography, and underwater robotics and autonomous vehicles.
“BankFive’s support is crucial as we develop plans to transform the region’s economic drivers around the Blue Economy,” Dave Slutz, managing director of Potentia Holdings LLC and co-chair of the SouthCoast Development Partnership, said in a statement.
