LOWE'S INVITES COMMUNITIES NATIONWIDE TO NOMINATE PROJECTS FOR LOWE'S HOMETOWNS IMPACT PROGRAM

Rhea-AI Summary

Lowe's has launched the second year of its Lowe's Hometowns initiative, a five-year program with a $100 million commitment to revitalizing community spaces. From January 24 to February 20, communities can nominate projects for funding. In 2023, 1,800 projects are expected to be completed, including 100 signature projects chosen from nominations. Last year's efforts benefited over 1.4 million people. This program emphasizes Lowe's commitment to community support and aims to enhance local facilities, housing, and cultural preservation.

Positive

• Lowe's committed $100 million to the Hometowns initiative, its largest community impact program.
• 1,800 projects are planned for 2023, fostering community development.
• Last year's projects positively impacted 1.4 million people.

Negative

• None.

100 signature projects will be selected from nominations to rebuild or renovate community spaces as Lowe's continues five-year, $100 million commitment

MOORESVILLE, N.C., Jan. 24, 2023 /PRNewswire/ -- As part of its goal to make homes – and hometowns – better for all, Lowe's today announced it is accepting nominations for the second year of Lowe's Hometowns, a five-year, $100 million impact program and the company's largest-ever commitment of its kind. Now through Feb. 20, people across the country are invited to nominate projects for the opportunity to receive a Lowe's Hometowns grant and help revitalize their communities.

Lowe's Hometowns will complete nearly 1,800 projects in 2023 through grant funding, engagement with local construction professionals and volunteer support from Lowe's associates. This includes 100 signature projects chosen from consumer nominations and nearly 1,700 community impact projects selected through Lowe's stores, supply chain locations and store support centers.

Based on the results of the inaugural Lowe's Hometowns program in 2022, more than 1.4 million people across the country are anticipated to benefit from last year's 100 signature projects within one year of their completion.

"Giving back to the communities where we live and work has been at the core of Lowe's philosophy since our founding more than 100 years ago, and Lowe's Hometowns is a key part of how we bring that commitment to life," said Marvin Ellison, Lowe's chairman and CEO. "I am incredibly proud to see the impact that Lowe's associates continue to make in supporting Lowe's Hometowns projects across the country."

According to a study from Lowe's impact partner Points of Light, 82% of social impact organizations reported an increase in demand for their programs and services in 2021. This year, Lowe's Hometowns will provide crucial support for nonprofits that need it most and spaces that serve as the hubs and heartbeats of communities.

"From community spaces damaged by a natural disaster to food pantries facing low supply and high demand, we must come together to continue to serve communities in need," said Diane Quest, interim president and CEO, Points of Light. "Lowe's understands businesses play a key role in strengthening communities. The Lowe's Hometowns signature projects completed in 2022 will have a deep impact, and Points of Light is proud to support Lowe's Hometowns in 2023 and continue to increase that impact."

Eligible project types include rebuilding or renovating the following:

• Neighborhood housing and shelters
• Local facilities that serve community members, including food pantries, senior citizen centers and youth clubs
• Outdoor community spaces, including gardens and playgrounds
• Cultural preservation, such as theater and memorial renovations
• Facilities dedicated to skilled trades education

Visit Lowes.com/hometowns for complete program terms and to nominate a community project. To learn more about Lowe's commitment to communities, visit Lowes.com/OurCommunities.  

About Lowe's  

Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 19 million customer transactions a week in the United States and Canada. With fiscal year 2021 sales of over $96 billion, Lowe's and its related businesses operate or service nearly 2,200 home improvement and hardware stores and employ over 300,000 associates. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.

Contact: Steve Salazar
Lowe's Companies, Inc.
steve.j.salazar@lowes.com

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SOURCE Lowe's Companies, Inc.

FAQ

What is the Lowe's Hometowns initiative for 2023?

The Lowe's Hometowns initiative is a community revitalization program where Lowe's allocates $100 million over five years to support community projects.

How many projects will Lowe's complete in 2023?

Lowe's plans to complete 1,800 projects in 2023 through its Hometowns initiative.

What is the nomination deadline for Lowe's Hometowns projects?

The nomination period for community projects runs from January 24 to February 20, 2023.

What impact did the Lowe's Hometowns program have in 2022?

In 2022, the program completed 100 signature projects, benefiting over 1.4 million people across the country.

What types of projects can be nominated for the Lowe's Hometowns program?

Eligible projects include renovations of community facilities, housing, outdoor spaces, and cultural sites.