Lowe's makes $250M investment in tradespeople training through foundation
A home improvement giant is investing in the next generation of skilled trade workers.
Lowe’s Companies Inc. is committing $250 million to help train and develop 250,000 tradespeople by 2035 through the Lowe’s Foundation’s Gable Grants program. The foundation's new goal builds its 2023 announcement of a $50 million, five-year commitment to help train 50,000 tradespeople with the support of Lowe's vendor partners.
With nearly $53 million invested in 65 organizations since then, the Lowe’s Foundation is on track to help prepare 50,000 tradespeople by 2027. The announcement comes as Associated Builders and Contractors estimates that 349,000 net new construction workers are needed to meet demand this year alone.
"Three years ago, we set out to lead an ambitious workforce movement in a pivotal moment – and it's taken off faster than we imagined," said Marvin Ellison, Lowe's chairman and CEO and co-champion of the Business Roundtable "Skilled Trades for America" initiative. "American prosperity is at stake, and we are partnering to solve the workforce gap with a growing force of educators, employers and policymakers who understand local needs. No single organization can do this alone."
To reach 250,000 tradespeople over 10 years, the Lowe’s Foundation is increasing its investment and focus in the following areas:
•Expanding partnerships with nonprofits and community colleges nationwide to increase program capacity, reduce training barriers and recruit new tradespeople. These organizations prioritize job placement, career advancement to increase retention and long-term program sustainability.
•Helping the next generation of professionals find new careers. To improve access, the foundation is growing its partnership with the National Center for Construction Education and Research (NCCER) to enhance its CareerStarter platform, a free service that connects students and job seekers directly with educators, employers and career opportunities. Separately, the foundation is also expanding its training focus to include opportunity youth — young people ages 16 to 24 who are not currently in school or employed but have the potential to connect to skilled trades employment opportunities through education and training.
•Leading a community of learning with grant recipients to accelerate the adoption of best practices. This includes in-person meetings with skilled trades experts and industry leaders to solve shared challenges, from short-term credentialing to hiring instructors to meet increased demand.
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Based in Mooresville, N.C., Lowe's Companies Inc. operates more than 1,700 home improvement stores, 530 branches and 130 distribution centers.
