Year Up Greater Boston Opens Employer-Sponsored Learning Community At State Street's Greater Boston Office

State Street Corporation (NYSE: STT) announced today that it has opened the first scalable and sustainable employer-sponsored Year Up learning site at its John Adams Building in Quincy, Massachusetts. Students at the new site will take Year Up classes to gain a variety of technical and professional skills for five months, and will be paired with State Street mentors who will contribute to the students' hands-on skills development and prepare them for success in the second part of the program, when students will participate in a full-time, six-month internship at State Street.

Year Up was founded in 2000 on the premise to close the "Opportunity Divide" in America by providing urban young adults with the skills, experience and support that will empower them to reach their potential through professional careers and higher education.

Since 2003, State Street has sponsored more than 800 Year Up interns and has hired more than 500 graduates of the Year Up program. As a result of the new site, the number of Year Up interns at State Street will increase annually by 70 students. State Street's goal is to hire up to 85 percent of these students as full-time employees upon their graduation.

Last year, State Street selected Year Up as one of five nonprofit partners for its Boston Workforce Investment Network (Boston WINs) initiative, a program with a mission of advancing job readiness and workforce development for youth across the city of Boston. The company was recently named to the Boston Business Journal's 2016 list of "Top Charitable Companies" for its investment in the Boston WINs program.

"Since State Street partnered with Year Up nearly 10 years ago, the organization has become one of our strongest sources of skilled and diverse talent," said Michael Scannell, senior vice president of Corporate Citizenship and head of the State Street Foundation. "The opening of the Year Up learning center within our Quincy office is an exciting opportunity to broaden and deepen our partnership with Year Up, and our impact on the hard-working and motivated individuals they serve. As the first company to create a Year Up Learning Community on our campus, we hope this model can serve as a blueprint for other employers to do the same."

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