Table of Contents
Key Point
- Lowe’s announces $8 million to expand skilled trades training programs across the U.S.
- Lowe’s Foundation grants will support 35 community colleges and nonprofits to train 50,000 people for skilled trades careers.
- Lowe’s initiative aims to fill a critical gap in the workforce while providing opportunities for individuals to build successful careers.
Lowe’s Companies Inc., led by one of the world’s highest-ranking Black CEOs, Marvin Ellison, has announced an $8 million investment to expand skilled trades training programs across the U.S.
The funding, channeled through the Lowe’s Foundation, will support community and technical colleges through its Gable Grants initiative. The move aims to address a critical workforce shortage in the construction and maintenance sectors.
Driving economic mobility
The latest round of funding extends support to 35 community colleges and nonprofits across 27 states. This is part of the foundation’s broader five-year, $50 million commitment to train 50,000 people for skilled trades careers. Grants will focus on key sectors such as carpentry, construction, HVAC, electrical, plumbing, and appliance repair.
Janice Dupré, Lowe’s executive vice president of human resources and chair of the Lowe’s Foundation, said, “With enrollments rising at vocationally focused schools, these community colleges are emerging as vital hubs for entrepreneurship and economic mobility. Each college has a clear vision for closing the trades gap in its community, and we’re pleased to welcome them to our larger movement.”
Lowe’s growth under Marvin Ellison
Lowe’s, a Fortune 50 home improvement retailer, operates over 1,700 stores and employs roughly 300,000 associates. As of May 3, 2024, the company had 1,746 stores encompassing 194.9 million square feet of retail space.
Ellison, who holds a minority stake of 0.13% in Lowe’s, has overseen significant growth since taking the helm. The company’s latest investment in skilled trades training builds on the foundation’s previous $25 million in Gable Grants awarded since 2023.
The initiative underscores Lowe’s commitment to fostering economic mobility and addressing the skilled trades gap. As demand for skilled labor grows, the company’s investments in education and training are crucial to ensuring a steady pipeline of qualified professionals.
