Unlocking New Trades Opportunities for the Next Generation with The Home Depot Foundation’s Path to Pro

Rhea-AI Summary

The Home Depot Foundation has announced over $2 million in new grants to address the skilled labor gap in the United States. This initiative comes as the construction industry faces more than 400,000 open jobs in fields like carpentry, plumbing, electrical, and HVAC, with projections showing growth to 3.9 million open jobs in the next decade.

Key components of this initiative include:

• A partnership with 100 Black Men of America, Inc. and Home Builders Institute (HBI) to provide skilled trades training and career opportunities for youth, with $500,000 in additional funding.
• A $710,000 grant to HBI for training programs targeting separating service members and youth.
• Over $1 million invested in scholarships for trades education through SkillPointe Foundation and Folds of Honor.

These efforts aim to support the next generation of skilled tradespeople and address the growing demand in the home improvement sector.

Positive

• Allocation of over $2 million in new grants to address the skilled labor gap
• $500,000 additional funding for partnership with 100 Black Men of America, Inc. and HBI
• $710,000 grant to HBI for training programs
• Over $1 million invested in scholarships for trades education

Negative

• None.

News Market Reaction – HD

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Originally published on Built From Scratch

NORTHAMPTON, MA / ACCESSWIRE / September 23, 2024 / Every September, Workforce Development Month celebrates the contributions of workforce professionals and raises awareness around skilled trades. As national conversation spotlights the construction industry as a career path for high school graduates, The Home Depot and The Home Depot Foundation remain committed to providing aspiring skilled tradespeople with the tools they need to be successful in the industry.

There are currently more than 400,000 open jobs in fields like carpentry, plumbing, electrical and HVAC. According to the U.S. Bureau of Labor Statistics, the home improvement trades are projected to grow to more than 3.9 million open jobs on the market in the next decade. While these may be daunting statistics, it creates a great opportunity to invest in the next generation of skilled talent.

The Home Depot Foundation has announced more than $2 million in new grants to address the skilled labor gap in the United States.

Skilled Trades Training
The Foundation and trades training nonprofit partner Home Builders Institute (HBI) launched a partnership with 100 Black Men of America, Inc. to increase skilled trades training and career opportunities for youth in 2021.

Now, through more than $500,000 in additional funding, the organizations will continue to provide HBI's Pre-Apprenticeship Certificate Training curriculum, mentorship and training in Atlanta, Philadelphia and Oakland while expanding the program to students in Las Vegas.

Earlier this year, the Foundation awarded a $710,000 grant to HBI to advance existing programs to train separating service members, youth and more in the skilled trades.

Trade School Scholarships

The Foundation is investing more than $1 million to award over 300 scholarships to students seeking to further their trades education through partners SkillPointe Foundation and Folds of Honor, which provides scholarships to the spouses and children of fallen and disabled service members.

About Path to Pro
Since 2018, The Foundation's Path to Pro program has introduced more than 245,000 people to the skilled trades and trained more than 43,000 youth, high school students, underserved communities and separating U.S. military servicemembers.

Apart from The Foundation's work to bridge the skilled labor gap, The Home Depot has enabled tens of thousands of jobseekers to connect with Pro customers looking to hire through the online labor marketplace, the Path to Pro Network. Thousands of participants have graduated from the Path to Pro Skills Program, a free, on-demand program that gives participants the necessary training to secure entry-level positions in the skilled trades.

For more information and to see trade resources available in English and Spanish visit PathtoPro.com.

View additional multimedia and more ESG storytelling from The Home Depot on 3blmedia.com.

Contact Info:
Spokesperson: The Home Depot
Website: https://www.3blmedia.com/profiles/home-depot
Email: info@3blmedia.com

SOURCE: The Home Depot

View the original press release on accesswire.com

FAQ

How much has The Home Depot Foundation (HD) committed to addressing the skilled labor gap?

The Home Depot Foundation has announced over $2 million in new grants to address the skilled labor gap in the United States.

What is the current number of open jobs in the construction industry according to The Home Depot (HD)?

According to the press release, there are currently more than 400,000 open jobs in fields like carpentry, plumbing, electrical and HVAC.

How many open jobs are projected in the home improvement trades over the next decade?

According to the U.S. Bureau of Labor Statistics, the home improvement trades are projected to grow to more than 3.9 million open jobs on the market in the next decade.

What organizations is The Home Depot Foundation (HD) partnering with for skilled trades training?

The Home Depot Foundation is partnering with Home Builders Institute (HBI) and 100 Black Men of America, Inc. to provide skilled trades training and career opportunities.