Lowe’s invests $4 million in 2 NC colleges to ‘break down barriers to opportunity’
.jpg "Lowe’s home improvement is providing several million dollars to help give more students college access to college and improve economic mobility in North Carolina.")
Lowe’s is helping give more students college access to college and improving economic mobility in its home state of North Carolina by investing $4 million toward new college partnerships.
On Tuesday, Queens University of Charlotte announced details about its first corporate partnership for its new Charlotte Talent Initiative, with Lowe’s providing $2.5 million.
The initiative is a partnership between Mecklenburg County businesses and the college to expand Charlotte’s talent pipeline and help low-income graduates of local high schools, according to the school.
And North Carolina Central University in Durham, a historically Black college, also said Tuesday that Lowe’s is gifting $1.5 million for the college’s School of Business.
That investment includes Lowe’s name on the auditorium at the School of Business building under construction and a new academic program, according to NCCU.
Lowe’s investment will be used to develop a new academic program, plus faculty recruitment and student scholarships, according to NCCU. The partnership will help opening doors and break barriers for students and stay competitive at historically Black colleges and universities, Lowe’s CEO Marvin Ellison and NCCU said in a statement.
Lowe’s and Queens University of Charlotte
The Charlotte Talent Initiative is a collaborative college and career readiness program that will create a pipeline to meet the needs of partner organizations, Lowe’s being the first, according to Queens University.
Lowe’s is the first partner, the university said.
The new corporate partnership is an “effort that begins to level the playing field” for students, regardless of their socioeconomic background and helps economic mobility in Charlotte, Queens University President Daniel Lugo said in a news release.
How Charlotte Talent Initiative works
Lowe’s annual investment over four years will provide full-tuition scholarships for students at the private college.
Queens students will take management, business and leadership courses designed and developed in partnership with Lowe’s while pursuing a major in their chosen field of interest.
The first Lowe’s student cohort will start with this fall semester.
“Queens’ and Lowe’s commitment to these students’ success through education combined with mentorship and internship opportunities will help them be successful,” said Sherri Chisholm, executive director for Leading on Opportunity. “These types of partnerships will help us close the economic mobility gap — one family at a time.”
Lowe’s expands community partnerships
The new college partnerships follow the home improvement retailer’s $10 million 100 Hometowns nationwide project last year to help communities, which included a $200,000 grant for the 1201 Beatties Ford Road park project and nine other projects in the Carolinas.
This month, Lowe’s extended the effort and said it is investing $100 million over the next five years to complete about 1,800 projects each year. Nominations have been extended through April 4 and can be made at Lowes.com/hometowns. Projects will be announced this summer.
Last year, Lowe’s pledged $10 million as part of the Mayor’s Racial Equity Initiative, a $250 million investment in Charlotte intended to address racial disparities. Part of that support will go to Johnson C. Smith University, where Lowe’s also is working on a new retail management major and internship program.
Creating paths for economic and social mobility with schools like Queens University is critical for building the workforce of the future, Ellison said in a statement.
Based in Mooresville, Lowe’s has 2,200 home improvement and hardware stores in the U.S. and Canada, and employs over 300,000 people.
“By welcoming students of all backgrounds to explore retail management careers, this partnership is right in keeping with Lowe’s history of investing in communities and our focus on initiatives that break down barriers to opportunity,” Ellison said. “And it aligns perfectly with our commitment to make a meaningful impact on our hometown Charlotte community.”
This story was originally published March 29, 2022 at 1:15 PM.