Best Buy Commits $10M to Grow Opportunities for Youth in Los Angeles

Rhea-AI Summary

Best Buy has committed $10 million to establish a Community Impact Hub in Los Angeles, part of its five-year plan for community development. Collaborating with the Annenberg Foundation and the Greater LA Education Foundation, Best Buy aims to create up to 12 new Teen Tech Centers by 2023, enhancing career opportunities for local youth. This initiative targets about 3,000 LA-area youth annually, offering training in high-demand careers within the creative and entertainment sectors. The launch will feature a virtual event on May 19 with Eva Longoria Bastón and a performance by Common.

Positive

• Commitment of $10 million to youth opportunities in Los Angeles.
• Creation of up to 12 new Teen Tech Centers by 2023 to support local youth.
• Targeting training for 3,000 youth annually in high-demand careers.
• Collaboration with reputable partners like Annenberg Foundation and Microsoft.

Negative

• None.

Last December, Best Buy announced a five-year plan with bold commitments for building brighter futures for our communities. Today, we’re sharing that as part of the plan we are committing $10 million to provide a new network of opportunities for youth in Los Angeles.

Called the Community Impact Hub, it was created in collaboration with founding partners the Annenberg Foundation and the Greater LA Education Foundation, the philanthropic arm of the Los Angeles County Office of Education. This model will create up to 12 new Teen Tech Centers in the LA area by 2023.

Best Buy currently has 35 Teen Tech Centers nationwide, including three in LA – one at the Bresee Foundation and two set to open later this summer at Legacy LA and Vermont Slauson Economic Development Corporation (VSEDC). Together, this future network of Teen Tech Centers will help prepare at least 3,000 LA-area youth per year for local career opportunities.

To celebrate the launch, Best Buy and the founding partners will host a virtual kickoff event on May 19, featuring a conversation with Eva Longoria Bastón and a special performance by Common.

“A lack of opportunity and access prevents millions of young people — especially those from disinvested communities — from reaching their full potential,” Best Buy CEO Corie Barry said. “We’ve seen how one Teen Tech Center in a community can build brighter futures. By partnering with local Los Angeles organizations, we’ll be able to support even more youth pursuing their dreams, now and in the future.”

The Community Impact Hub will offer participants experience in high-demand careers in the creative and entertainment industries. Through partnerships with Fresh Films and the GRAMMY Museum^®, the Teen Tech Centers will give youth hands-on training in film, digital media, audio engineering and music production. Best Buy has also partnered with the Entertainment Industry Foundation to develop career pathways for Los Angeles youth, including organizing paid internship placements at local organizations to best prepare them to enter the workforce. Compton-based Yetunde Price Resource Center will provide mental health and wellness programming.

Additional supporters of the Los Angeles Community Impact Hub include JBL, Western Digital, The Oprah Winfrey Charitable Foundation, Microsoft and Russell Westbrook’s Why Not? Foundation.

Partnering for a greater impact

Best Buy is proud to partner with likeminded public and private organizations in the local community to amplify our efforts on this initiative.

• “Helping create the Community Impact Hub in LA was a natural extension of the Annenberg Foundation’s existing work with Best Buy. The Teen Tech Center we’re building in South LA in partnership with VSEDC will be a core pillar of that hub – with a bold vision to address learning loss, help close the digital divide, and provide young women and youth of color with meaningful, career-linked opportunities,” said Cinny Kennard, Executive Director of the Annenberg Foundation.

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FAQ

What is Best Buy's recent initiative in Los Angeles?

Best Buy is investing $10 million to create a Community Impact Hub that will include up to 12 new Teen Tech Centers for youth training.

How many Teen Tech Centers does Best Buy currently operate?

Best Buy currently has 35 Teen Tech Centers nationwide, including three in Los Angeles.

What are the goals of the Community Impact Hub?

The Hub aims to provide career training for 3,000 local youth annually in high-demand fields like film, digital media, and audio engineering.

When is the virtual kickoff event for the Community Impact Hub?

The virtual kickoff event is scheduled for May 19, featuring Eva Longoria Bastón and a performance by Common.

Who are the founding partners of the Community Impact Hub?

The founding partners include the Annenberg Foundation and the Greater LA Education Foundation.