Lowe’s boosts skilled trades investment to $250 million

The Lowe’s Foundation on Tuesday announced that it will be multiplying its grant donations to help train and develop skilled tradespeople across the U.S. 

What’s happening: The foundation pledged $250 million to train 250,000 workers by 2035 through its Gable Grants program, which makes donations to community and technical colleges, as well as nonprofits. 

• Why it matters: The construction industry needs 349,000 net new workers in 2026 to meet demand for construction services, according to Associated Builders and Contractors, while employment of HVAC techs and installers, in particular, is expected to grow eight percent from 2024 to 2034. 

Catch up quick: In 2023, Lowe’s pledged $50 million to train 50,000 skilled workers by 2027 and has already invested $53 million across 65 community colleges and nonprofit groups. 

What they’re saying: “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,” Lowe’s CEO Marvin Ellison said in a statement.

• “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,” he added. “No single organization can do this alone.”