Governor, Boston Fed COO, Greater Boston Chamber President address group

More than 100 members of the Commonwealth's business, government, and academic communities gathered together today at an event designed to highlight the important role of student internships in developing essential skills, retaining talent in the region, and helping businesses grow and succeed.

Co-hosted by the Federal Reserve Bank of Boston, the Greater Boston Chamber of Commerce and the Commonwealth of Massachusetts, the event sought to encourage collaboration between business and academic institutions on internships and to support employers in developing internship programs.

"Our continued economic growth depends on keeping the best and the brightest here when they graduate," said Governor Deval Patrick. "That's why we're focusing significant energy on showing our students the tremendous opportunities Massachusetts has to offer after they finish school. This event shines a spotlight on the critical role internships play in these efforts."

"Studies have shown that our regional labor market faces significant challenges," said Kenneth Montgomery, First Vice President and Chief Operating Officer of the Federal Reserve Bank of Boston. "The growth rate of our population of college graduates is projected to slow just as our need for those graduates to help grow the economy is increasing. We need more students to stay here when they graduate, and internships are a key component in making that happen."

"Talent is one of our region's greatest assets, and gives us a significant competitive advantage in cultivating our leading industries," said Paul Guzzi, president and CEO of the Greater Boston Chamber of Commerce. "Strengthening the connection between the enormous talent in our colleges and universities and the regional business community is a top priority, and led to the launch of Chamber Intern Connect, our online resource to bring businesses together with local students seeking work-based internships."

The meeting also featured a presentation by Yolanda Kodrzycki, the Director of the Fed's New England Public Policy Center, as well as a panel discussion on "The Ingredients for a Successful Internship Program," featuring representatives of State Street, research firm Chadwick Martin Bailey, and Simmons College. The program concluded with a discussion by online recruiter Experience.com, including a demonstration of the Chamber Intern Connect website and the Commonwealth's statewide internship website.

Members of the Massachusetts Marketing Partnership were also on hand to discuss the "Massachusetts, It's All Here" campaign, which connects students seeking internships with businesses offering opportunities. The website www.massitsallhere.com/internships, sponsored by the Commonwealth of Massachusetts, Mass It's All Here, and Experience, Inc., is part of the Commonwealth of Massachusetts' Talent Retention Initiative and is designed to bring students together with Massachusetts businesses, non-profits, and government agencies seeking interns. Employers can post internship opportunities and students can apply for these positions. Use of the site is free to students and to any Massachusetts employer. The site contains jobs postings not only from postings made directly to the site, but also from partner organizations including Chamber Intern Connect.

Through these opportunities, students can learn new skills that they can carry forward in their careers, while businesses identify talented individuals and create partnerships with academic institutions.

For additional information, please contact:

Chamber: Charles Rudnick, 617-557-7324
Federal Reserve Bank of Boston: Thomas Lavelle, 617-973-3647
Commonwealth: Jason Lefferts, Massachusetts Executive Office of Housing and Economic Development, 617-788-3652