Mayor Martin Walsh and Gov. Charlie Baker were on hand Tuesday as the State Street Corporation announced a multi-million dollar investment over four years to five nonprofits in the city committed to preparing Boston’s young people for the 21st century workforce.

Through the Boston Workforce Investment Network, or Boston WINs, State Street will provide $20 million to the nonprofits, which will be able to scale their programs, increasing the number of youth served by an estimated 60 percent or so. State Street has also committed to hiring 1,000 Boston students served by an organization working with the WINs program over the next four years.

Walsh hailed the initiative as an example of the private sector stepping up. “We need to strive to build bridges to classrooms. This is not just a generous financial contribution; it’s a catalyst for creating pathways to jobs,” the mayor said at State Street’s offices in Boston.

The nonprofits are Bottom Line, Boston Private Industry Council, College Advising Corps, uAspire, and Year Up. College Advising Corps trains young people to work with and mentor first -generation, low-income, underrepresented Boston students and is deployed in 16 high schools across Boston, including Dorchester’s Jeremiah E. Burke High School, the Community Academy of Science and Health, and Dorchester Academy.

“The College Advising Corps is honored to be part of this game-changing investment,” said Nicole Hurd, College Advising Corps Founder and CEO. “We look forward to working with State Street Corporation, our WINs partners, fellow educators, and the city of Boston to ensure our youth can achieve their promise and strengthen our communities,”

“The goal of the Boston WINs initiative is to provide opportunities for our city’s future workforce by focusing on the creation of career paths for local youth, and supporting them in the education process,” said Jay Hooley, chairman and chief executive officer of State Street.
“As an employer, we hold a critical part of the solution to workforce development. By bringing together these organizations and aligning them to a common goal, we can improve outcomes for students along the continuum from high school to higher education and beyond. The Boston WINs network model will help each organization deliver outcomes that surpass what they could have accomplished individually.”

Hooley also promised frequent reports on the initiative to track its success.

Baker called the WINs initiative “exactly the sort of thing that we should be doing more of. People need new models and a different way to think about this. We have tremendous work to do. There’s tons of opportunity here if we do this well.”