The Home Depot Quadruples Commitment to Historically Black Colleges and Universities through Campus Enhancements and Innovative Career-Development Programs

Rhea-AI Summary

The Home Depot will increase its investment in Historically Black Colleges and Universities (HBCUs) to $4 million in 2023, focusing on community projects and career resources through its Retool Your School program. Half of this funding will enhance career opportunities for HBCU students with scholarships and externships, while the other $2 million will expand the Retool Your School Campus Improvement Grant. The program has already invested over $5.2 million in 184 HBCUs since its inception. Grants this year will support 30 campuses, with amounts ranging from $40,000 to $150,000.

Positive

• Increased investment of $4 million, enhancing support for HBCUs.
• Expansion of career resources, including scholarships and externships, contributes to workforce development.

Negative

• None.

ATLANTA, Jan. 25, 2023 /PRNewswire/ -- The Home Depot® will increase its investment in Historically Black Colleges and Universities (HBCUs) to $4 million in 2023 by launching an expanded range of community projects and career resources for students in its Retool Your School program.

Half of The Home Depot's increased commitment will prepare HBCU students to thrive in their future careers with new needs-based programs including externships, scholarships, career workshops and innovation lounges. The other $2 million will double the flagship Retool Your School Campus Improvement Grant, which provides grants to HBCUs supporting campus enhancements. In its 14-year history, the program has given more than $5.2 million across 184 HBCUs.

The vote-based Retool Your School Campus Improvement Grant is expected to support 30 campuses this year with grants ranging from $40,000 to $150,000 per school. HBCU students, alumni and advocates can vote for their favorite HBCUs online, on Twitter or Instagram using the school's designated hashtag found at retoolyourschool.com. Applications are currently open and close February 10th.

"We're strengthening our commitment to HBCUs and their students, from educational enrichment to career development opportunities that will follow them long after graduation," said Arlette Guthrie, senior vice president of human resources at The Home Depot. "As a proud HBCU graduate myself, I value the education I received and have personally experienced the diversity of thought and innovation that HBCU students bring to the workforce."

As part of the expanded career-development offerings, The Home Depot is partnering with the United Negro College Fund to award 60 $2,500 scholarships to students currently enrolled at any HBCU. In addition, a new business externship will give HBCU sophomores, juniors and seniors the chance to work on real-world projects in Home Depot business groups like home services, marketing and strategic business development. At the end of the six-to-eight-week virtual program, they'll present their final projects to Home Depot executives. The funding will also support the creation of on-campus innovation lounges and resume and interview workshops led by Home Depot career development experts. 

Retool Your School is a key component of The Home Depot's diversity, equity and inclusion (DEI) strategy, and our commitment to advancing education for all in the community. To drive meaningful change, the company's DEI strategy focuses on three areas: associate engagement, community engagement and supplier diversity partnerships. For more information on The Home Depot's Retool Your School program, including information on how to apply for scholarships and other grants, visit retoolyourschool.com.  

About The Home Depot 
The Home Depot is the world's largest home improvement specialty retailer. At the end of the third quarter of fiscal year 2022, the company operated a total of 2,319 retail stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The company employs approximately 500,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index. The Home Depot is #17 on the 2022 Fortune 500. 

About Retool Your School 
The Home Depot's Retool Your School grant program strives to give back to our nation's Historically Black Colleges and Universities (HBCUs) what they have so generously given to their communities: a strong foundation, renewed purpose and distinctive character through campus uplift and beautification funding. Established in 2009, Retool Your School has invested more than $5.2 million to support 184 campus improvement grants provided to 70 percent of the nation's HBCUs. To learn more about Retool Your School, visit RetoolYourSchool.com and follow us on Twitter @HomeDepotRetool, Instagram @HomeDepotRetool and Facebook @RetoolYourSchool. 

 

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SOURCE The Home Depot

FAQ

What is the Home Depot's investment in HBCUs for 2023?

The Home Depot is investing $4 million in Historically Black Colleges and Universities (HBCUs) in 2023.

What are the main features of the Retool Your School program?

The Retool Your School program provides grants for campus improvements and career resources, including scholarships and externships.

How much funding will each HBCU receive from the Retool Your School grants?

HBCUs can receive grants ranging from $40,000 to $150,000 under the Retool Your School program.

What is the deadline for HBCUs to apply for the Retool Your School grants?

The application period for the Retool Your School grants closes on February 10th.

How has the Home Depot supported HBCUs historically?

Historically, the Home Depot's Retool Your School program has invested over $5.2 million across 184 HBCUs.