BayCoast Bank has pledged a $150,000 grant over a three-year period to the Blue Economy Initiative, a collaborative effort between the University of Massachusetts Dartmouth and the SouthCoast Development Partnership (SCDP) to develop a “blue economy corridor” in Southeastern Massachusetts.
The Initiative will create an environment where relevant regional institutions, businesses, and universities can work collaboratively to establish a Marine Science and Technology “supercluster” which will include numerous fields, including robotics, oceanography, renewable and nonrenewable energy, biotechnology, communications hardware, information technology, advanced materials, and civil engineering.
Over the course of three years, the project will develop a plan and build support through a consortium of colleges and universities, innovation centers, chambers of commerce, workforce investment boards, economic development districts, industry leaders and others to diversify economic opportunities in engine and turbine manufacturing, wind and hydropower generation, nautical systems manufacturing, and coastal water transportation technologies.
“It is a privilege to invest in a project that will improve the quality of life for residents throughout the region,” said Nicholas Christ, President and CEO of BayCoast Bank, who also serves as a co-chair of the SouthCoast Development Partnership.
“BayCoast Bank has not only been a great partner with UMass Dartmouth, but has shown itself to be a true community partner across the region,” UMass Dartmouth Chancellor Robert E. Johnson said. “Through Nick Christ’s leadership as a co-chair of the SouthCoast Development Partnership, we have been able to launch a transformative project that will accelerate the development of our regional marine technology economy. As the lead corporate sponsor, BayCoast is creating new economic opportunity for the businesses and people of the region.”