People’s United Bank and Vermont Tech announced today the bank’s donation to the college to support the manufacturing sector. Following the initial investment from the State’s capital budget for Phase I of the mechanical and electrical lab renovations, the President Dan Smith set a path toward raising the $500,000 matching fund stipulated to receive the second $500,000 investment in the FY2017 capital budget. People’s United Bank’s financial support is the first major private commitment in support of advanced manufacturing.
“We are pleased to be in a position where we can make a $25,000 contribution to Vermont Tech as they provide opportunities for students to choose a path in manufacturing,” noted Michael Seaver, President of People’s United Bank in Vermont. “People’s United Bank has a strong footprint in Vermont and we will continue to look for ways in which we can aid in the growth of our economy.”
Vermont Tech recently launched a new Bachelor of Science in Manufacturing Engineering Technology and is increasing its commitment to the manufacturing workforce.
“If this state is going to find a way to revitalize the manufacturing sector and support the innovation and growth of clean, technology-based manufacturing employers, it needs to ensure that there is a workforce with the technical skills and experience necessary to sustain it,” said Dan Smith, President of Vermont Tech. “We are proud to be the state’s source to develop the next generation of manufacturing employees with the state-of-the-art facilities that will draw more students into the profession. That People’s United Bank recognizes their financial support of Vermont Tech as an investment in the manufacturing industry is an honor.”
People’s United Bank’s investment will support Phase II of Vermont Tech’s initiatives, including the installation of state-of-the-art 3D printers and scanners to teach the principles of design, reverse engineering and additive manufacturing, as well as the addition of machine tooling and material processing labs in support of advanced manufacturing. The electrical engineering program will benefit from more advanced system applications like controls and robotics.
Vermont Tech expressed gratitude for the generous contribution from People’s United Bank. Their investment supports the mission of the college to serve the state’s workforce development needs and to improve the lives of Vermonters.
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