AppliedTheory Wins $82 Million Fed Job Bank Contract

AppliedTheory Corp. of New York won a $82 million contract to host and enhance the Web site for America's Job Bank, the world's largest job bank.


AppliedTheory developed and has hosted the Job Bank site since its inception in 1995. America's Job Bank is a 20-year-old labor exchange network developed by the Department of Labor and state employment service offices.


In addition to hosting and related services, AppliedTheory will develop enhancements for the Job Bank's One Stop Operating System, which allows state agencies to share information online easily and without high infrastructure costs.


Federal mandates require all states to deploy a One Stop-type system, and the Job Bank will market the AppliedTheory's platform to all 50 states. Currently, seven states use a One Stop system.


"This is a great example of how the government is using technology to streamline process and be more efficient in serving the public," said Danny Stroud, president and chief executive officer of AppliedTheory. "[Our] technology helps government agencies meet requirements mandated by the Work Force Investment Act, as well as save taxpayers money."


The market for online job sites is expected to reach $1.7 billion and account for 20 percent of classified advertising employment budgets by 2003, according to Forrester Research.


America's Job Bank posts about 1.4 million resumes and another 1.4 million job openings for government and private-sector positions. The site receives 5 million hits a day.


By comparison, Monster.com posts approximately 448,000 job openings and 2.4 million unique visitors per month.