Stanley Black & Decker Announces First Recipients of $25 Million Empower Makers Global Impact Challenge

SOURCE: Stanley Black & Decker

DESCRIPTION:

• $3 million in grants and nearly $1 million in tools are being provided to organizations supporting workforce development initiatives
• Recipients represent the first cohort in 5-year commitment toward skilling 3 million makers
• Grants to empower roughly 180,000 individuals in 2022 through vocational skills training

NEW BRITAIN, Conn., March 28, 2022 /3BL Media/ - Stanley Black & Decker (NYSE: SWK) announced today the recipients of its inaugural Empower Makers Global Impact Challenge grant program. The program, launched in 2021, awards up to $25 million in grant funding over five years to non-profits that are supporting trade workforce development initiatives with the goal of skilling and reskilling up to 3 million makers.

With an estimated 650,000 open construction jobs in 2022¹ and 10 million unfilled manufacturing jobs globally², Stanley Black & Decker has made vocational skills training a priority through its corporate social responsibility (CSR) mission. A major component of the company's CSR strategy includes a goal to empower 10 million makers by the year 2030.

Fifty-nine organizations have been selected to receive $3 million to enable vital trade skills training and reskilling programs in the construction and manufacturing sectors. The inaugural recipients include career development schools, community colleges, construction nonprofits and trade schools from around the globe committed to positively impacting trade professions. In addition, the company will be providing nearly $1 million in tool donations to another 27 organizations to outfit makerspaces and training facilities.

"Congratulations to this year's Impact Challenge winners, who are each making a significant impact in helping to address the skills trade gap," said Stanley Black & Decker's Vice President of Social Impact, Diane Cantello. "Our purpose is to support 'Those Who Make the World,' and being able to fund educational programs and non-profits that are revitalizing trade careers directly connects to our core mission. By helping provide a pathway for trade professionals, we are also setting our sights on constructing a better future that can uplift the hardworking tradespeople who build our world to meet the ever-changing needs of society."

Introducing the Inaugural Empower Makers Global Impact Challenge Grant Recipients
*Denotes Tool Grant Recipients.

More than 240 total applications were evaluated based on number of people served, outcomes projected, sustainable impact, depth of programs and diversity, among many other considerations.

This year's recipients are anticipated to empower roughly 180,000 Makers through unique programming. Examples include:

• Workshops For Warriors Veteran program will teach skilled training for entry level welders or machinists
• YWCA of Metro Chicago will lead a 12-week training course in carpentry
• Region 14 Building Trades Program will teach pre-apprenticeship construction training programs
• Cornerstones of Care – Build Trybe will provide mentorship to under-resourced foster youth through vocational training

"Our Makers Grant recipients are inspiring – each application demonstrated a deep commitment from the organization to their communities," said Cantello. "Being able to support these organizations as they implement new programs aimed at filling the trade skills gap will help support regional job creation, sustainable careers in the trades, and the advancement of these critical professions where there is a shortage of skilled workers."

Meet the Inaugural Empower Makers Grant Recipients
Stanley Black & Decker will continue to showcase and share the important work of the Makers Grant recipients online at EmpowerMakers.com as well as on Stanley Black & Decker's social media channels with #ImpactChallenge.

Year 2 Applications for the Empower Makers Global Impact Challenge Open This Fall
The Empower Makers Global Impact Challenge will reopen for applications beginning October 1, 2022 through October 31, 2022. Recipients will be announced in early 2023. To learn more about Stanley Black & Decker's Global Impact Challenge, this year's recipients and how non-profits may submit for the upcoming application period, please visit EmpowerMakers.com.

About Stanley Black & Decker
Headquartered in the USA, Stanley Black & Decker (NYSE: SWK) is the world's largest tool company operating nearly 50 manufacturing facilities across America and more than 100 worldwide. Guided by its purpose – for those who make the world – the company's more than 60,000 diverse and high-performing employees produce innovative, award-winning power tools, hand tools, storage, digital tool solutions, lifestyle products, outdoor products, engineered fasteners and other industrial equipment to support the world's makers, creators, tradespeople and builders. The company's iconic brands include DEWALT®, BLACK+DECKER®, CRAFTSMAN®, STANLEY®, CUB CADET®, HUSTLER® and TROY-BILT®. Recognized for its leadership in environmental, social and governance (ESG), Stanley Black & Decker strives to be a force for good in support of its communities, employees, customers and other stakeholders. To learn more visit: www.stanleyblackanddecker.com.

¹ "Construction Industry Faces Workforce Shortage of 650,000 in 2022," Associated Builders and Contractors. https://www.abc.org/Portals/1/CEU/Construction-Spending-2022.png?ver=2022-02-22-102511-743

² "The Future of Manufacturing: Opportunities to drive economic growth," World Economic Forum. https://www.nist.gov/system/files/documents/2017/05/09/The-Future-Manufacturing_4_20_12.pdf

SOURCE Stanley Black & Decker

Tweet me: .@StanleyBlkDeckr announces the recipients of its inaugural Empower Makers Global Impact Challenge grant program, with the goal of skilling and reskilling up to 3 million makers: https://bit.ly/3qHrs97

KEYWORDS: NYSE:SWK, Stanley Black & Decker, Empower Makers Global Impact Challenge