Empowering Future Generations: Entergy Supports Local HBCUs

Rhea-AI Summary

Entergy has announced a 10-year, $20 million commitment to support Historically Black Colleges and Universities (HBCUs) in its service area. This initiative aims to empower HBCU students through academic scholarships, facility grants, workforce development programs, and internship experiences. The company's goal is to increase student retention, improve graduation rates, and expand post-graduation job opportunities.

Entergy has already invested over $7.4 million in HBCUs since 2018 for various improvements and programs. The new commitment will expand 'The Power of Prosperity' program, launched in 2023, which partners with Single Stop and Stackwell Capital to provide resources and investment accounts to HBCU students. This initiative is part of Entergy's broader strategy to develop a skilled, diverse workforce and contribute to the economic development of the Gulf South region.

Positive

• 10-year, $20 million commitment to support HBCUs
• Expansion of 'The Power of Prosperity' program to multiple states
• $7.4 million already invested in HBCUs since 2018
• Partnerships with organizations like Single Stop and Stackwell Capital to provide resources and investment accounts to students

Negative

• None.

NORTHAMPTON, MA / ACCESSWIRE / August 20, 2024 / Entergy Corporation

By: Marcus Brown • Executive Vice President and General Counsel

At Entergy, we power life. We've been in business for more than 100 years, and our purpose has never changed. We power life by creating sustainable value for our customers, employees, communities and owners. This goes beyond providing safe, reliable, affordable and sustainable energy - it also means being there for all the moments that matter. It means making a lasting impact that powers a brighter future for all.

As an industry leader, Entergy has an opportunity to help develop future generations of the energy workforce by strengthening awareness and promoting the advantages of careers in our field. We are sharpening our focus, elevating different perspectives, and ensuring that everyone with the talent and desire has an opportunity to succeed.

A sustained path forward

We have an established history of working with educational institutions to develop a workforce that not only supports our own needs, but also bolsters the continued economic development of the Gulf South region. We live here. We work here. We raise our families here. What matters to the communities we serve and to our customers, matters to us.

That's why we're proud to continue our longstanding support of Historically Black Colleges and Universities with a 10-year, $20 million commitment to elevate and empower the institutions and their students through academic scholarships, facility grants and endowments, workforce development programming, internship experiences, access to resources and financial aid and generational wealth building.

Education creates opportunities for all individuals to realize their full potential, and, to that end, we understand the vital role that HBCUs play. We want to broaden the path to employment for HBCU students by ensuring they have access to resources and experiences, and also by closely collaborating with their educators and administrators to ensure they are equipped with the relevant skills needed for success.

Through this $20 million commitment, we hope to see our partner schools increase student retention, improve graduation rates and expand post-graduation job placement opportunities. For the students, their families and their communities, we look forward to outcomes like increased access to capital, improved household economic stability and better lifetime earning potential.

Building on our past progress

Our commitment to supporting HBCUs creates opportunities through education, career readiness and workforce development. Since 2018, we have invested more than $7.4 million in HBCUs in our service area for facility and curriculum improvements, technology upgrades, mentoring programs, research study collaborations, internship/co-op opportunities and more.

For example, at Southern University, the Entergy Scholars Program provides engineering majors with hands-on skills that prepare them for early career positions. And to close the gap between academia and industry, our Entergy Faculty Extern Program regularly invites STEM educators from regional HBCUs to participate in facility tours and job shadowing, which helps them better prepare their students for careers in energy.

Investing in students, and in our communities, is core to our values, and we know that education alone is not enough. We must also work to close the racial wealth gap. That's why Entergy launched The Power of Prosperity program in 2023. The program consists of two components: removing barriers to student success through a partnership with Single Stop, a national nonprofit that connects students and their families to resources and funding from local, state and federal sources. The second component of the program consists of a partnership with Stackwell Capital through which we will equip students with the knowledge, tools and resources - including seeded investment accounts - to build generational wealth, which is a foundation for economic stability, access to opportunity and long-term prosperity. By investing more than $700,000 in the pilot program, our shareholders are helping 1,200 HBCU freshmen in New Orleans unlock new opportunities.

Today, with this new $20 million commitment, we are able to expand The Power of Prosperity Program throughout our service area so that HBCU students across Louisiana, Mississippi, Texas and Arkansas will have new doors opened to them through our partnerships with Stackwell Capital and Single Stop.

Through these partnerships, our goal is to help students graduate on time, with minimal debt and equipped with an investment account and the ability to build wealth with intention. By investing in our HBCU students, we are investing in the next generation of leaders who will shape our communities, drive innovation and bring about positive change.

Looking ahead

An educated, skilled and diverse workforce is critical to Entergy's long-term success, as well as the health and viability of the communities we serve. Empowering the HBCUs in our region is one of the best ways we can contribute to the quality of life in our communities.

Entergy also maintains partnerships with organizations such as the National Urban League, NAACP, the American Association of Blacks in Energy, National Society of Black Engineers and the Center for Energy Workforce Development, which all work to foster diversity and create inclusive communities.

We also continue to collaborate with local leaders and federal policymakers to ensure that funding opportunities are prioritized and that there's a regulatory environment conducive to growth. We'll continue to fight for every dollar of federal funding that we can leverage to benefit our customers and communities.

I'm proud of the progress we've made so far, but there is more work to do. Entergy will enthusiastically take on that work to create new opportunities and forge this path forward.

Learn more and stay up-to-date with Entergy's latest HBCU partnerships.

View additional multimedia and more ESG storytelling from Entergy Corporation on 3blmedia.com.

Contact Info:
Spokesperson: Entergy Corporation
Website: https://www.3blmedia.com/profiles/entergy-corporation
Email: info@3blmedia.com

SOURCE: Entergy Corporation

View the original press release on accesswire.com

FAQ

What is Entergy's new commitment to HBCUs?

Entergy has announced a 10-year, $20 million commitment to support Historically Black Colleges and Universities (HBCUs) in its service area, focusing on academic scholarships, facility grants, workforce development programs, and internship experiences.

How much has Entergy invested in HBCUs since 2018?

Since 2018, Entergy has invested more than $7.4 million in HBCUs in its service area for facility and curriculum improvements, technology upgrades, mentoring programs, research collaborations, and internship opportunities.

What is 'The Power of Prosperity' program by Entergy?

The Power of Prosperity program, launched by Entergy in 2023, partners with Single Stop and Stackwell Capital to provide HBCU students with resources, funding, and seeded investment accounts to build generational wealth and promote economic stability.

Which states will benefit from Entergy's expanded HBCU support?

Entergy's expanded HBCU support will benefit students across Louisiana, Mississippi, Texas, and Arkansas through the expansion of The Power of Prosperity Program.