Bloomberg Philanthropies Boosts Career and Technical Education Programs with $25 Million Grant

Strategic Insights -

As the United States struggles to recover from the COVID-19 pandemic, high school students are in dire need of access to quality job training opportunities. To address this critical issue, Bloomberg Philanthropies has announced an additional $25 million in support for career and technical education programs in nine U.S. cities and across two states. This investment brings the organization's total support for these programs to $90 million since 2016.

Key Takeaways:

  • Bloomberg Philanthropies will provide $25 million in grants to career and technical education programs in nine U.S. cities and across two states, with a focus on apprentice-style programs and school-based career training programs.
  • The support will benefit young people in Atlanta, Baltimore, Birmingham, Camden, Charlotte, Denver, Louisville, Providence, and Washington D.C., as well as in Delaware and Texas (Austin, Houston, San Antonio, and west central Texas).
  • The programs will provide high-quality, on-the-job experience and industry training for students, helping them develop skills in areas such as health care, financial services, business operations, information technology, and advanced manufacturing.
  • Participants will have the opportunity to earn industry-recognized credentials and certifications in roles such as IT support technician, certified medical assistant, human resources associate, web developer, and machine maintenance technician.
  • The new support includes $12.5 million for work-based apprentice-style programs, which are adapted from the Swiss and German apprenticeship systems, and $12.5 million for school-based career training programs.
  • Michael R. Bloomberg, founder of Bloomberg LP and Bloomberg Philanthropies, believes that expanding career programs and pathways for students not heading directly to four-year college after high school is critical to gaining greater economic mobility and strong middle class career opportunities.

Statistics:

  • $90 million: Bloomberg Philanthropies has invested in career and technical education programs since 2016.
  • 9 U.S. cities: The new support will benefit cities in Atlanta, Baltimore, Birmingham, Camden, Charlotte, Denver, Louisville, Providence, and Washington D.C.
  • 2 states: Delaware and Texas will also benefit from the new support, with programs in Austin, Houston, San Antonio, and west central Texas.
  • $12.5 million: The amount allocated for work-based apprentice-style programs.
  • $12.5 million: The amount allocated for school-based career training programs.
  • 5 industries: Health care, financial services, business operations, information technology, and advanced manufacturing will be featured in the programs.
  • 7 job roles: Students will have the opportunity to develop skills in roles such as IT support technician, certified medical assistant, human resources associate, web developer, machine maintenance technician, and more.

Sources:

  • Bloomberg Philanthropies announcement, "Bloomberg Philanthropies Announces Additional $25 Million in Support for Career and Technical Education Programs"
  • Euclid Infotech Pvt. Ltd.