NORFOLK, Va. — Hampton Roads is home to several high-growth industries that help fuel the economy. Employers depend on people who can fill skilled positions and help build a competitive edge for the region.
"We have the Navy, the shipyard, we have big enterprises," said BayPort Credit Union President and CEO Jim Mears. "It's just so important for us all to be invested in our community."
Mears is also board chairman of the BayPort Foundation. The credit union's charitable arm is partnering with Ferguson, Newport News Shipbuilding, and Virginia Natural Gas to fund a grant called Accelerating Change Together, or ACT.
The grant will be awarded to a Hampton Roads nonprofit to fund an initiative that supports local education and workforce development.
"So many nonprofits have creative ideas about addressing pressing community challenges, but they don't have the funding," Mears said. "And we're looking to identify a project that will leave that most significant potential on our community."
The selected nonprofit will receive $500,000 over the course of three years in a step-down style: $250,000 in the first year, $175,000 in the second year, and $75,000 in the third year.
Mears said the corporations came together to not only invest in Hampton Roads' nonprofit community but also support efforts to produce more quality applicants for in-demand jobs.
"We're looking to address the skilled labor shortage across the country," Mears said. "We can help contribute to the overall growth and stability of our workforce... not only locally, but nationally as well."
The first ACT Grant was awarded in 2022 to the Virginia Beach Education Foundation and Virginia Beach City Public Schools. It helped fund a new Renewable Energy Technologies program at the school division's Advanced Technology Center.
Mears said the program is helping to build a pipeline for young people to enter the emerging career field.
"The new program prepares high school students -- and I witnessed it firsthand -- to enter the skilled workforce," Mears said. "And it officially opened last year."
He said this second round of funding will support a nonprofit organization that understands the region's industry assets and has innovative strategies to meet its economic needs.
"Education and skilled workforce are the backbone of a strong community, and we think improving programs like these helps everyone," Mears said. "We hope the ACT Grant will also inspire like-minded nonprofits maybe to work together to strengthen the communities where we all live and work."
Nonprofits have until July 31 to apply for the grant. Click here to access the application.