Tags: home depot | training | building trades | worker shortage

Home Depot's Worker Shortage Worry Results in $50M for Building-Trades Training

Image: Home Depot's Worker Shortage Worry Results in $50M for Building-Trades Training
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By    |   Thursday, 08 March 2018 02:22 PM

Home Depot said it will donate $50 million to train 20,000 people over the next 10 years to become construction workers, who in turn could be future customers.

The funds, from the Home Depot Foundation, will go to the Home Builders Institute, the educational branch of the construction industry, USA Today reported, and the institute will focus on training military veterans as well as high school students and disadvantaged youth.

"It's important that we support the trades," Home Depot CEO Craig Menear told USA Today. "Not only do we sell product to professionals like plumbers and electricians," but, he said, the company also partners with service providers that install kitchen flooring, hot water heaters and other equipment in consumers' homes.

According to the website Curbed.com, despite new construction projects topping $1 trillion last November, the lack of skilled labors placed a hurdle in taking advantage of the new work.

"The number one issue is the cost and availability of labor," said Randy Strauss, owner of Strauss Construction in Amherst, Ohio near Cleveland, per Curbed.com.

The website said more than 1.5 million residential construction workers left the industry during the Great Recession and fewer than half of those workers have returned, making it more costly for homebuilders to assemble their needed workforce.

Damage caused by powerful hurricanes like Irma in Florida and Harvey in Texas have only increased the need for new construction even more, Curbed.com said.

The Home Builders Institute trains about 3,500 construction workers a year, but the new Home Depot funds will allow it to graduate 2,000 more annually, John Courson, the institute's chief executive, told USA Today.

"This is going to take us to a new level," Courson told USA Today. "We’re going to have a partner" to provide a stable funding source.

According to its website, the foundation has helped build and repair thousands of homes for military veterans with the help of its employees and volunteers. The foundation also has given funds to nonprofit organizations that focus on ending veteran homelessness, creating housing for wounded veterans, and serving aging veterans.

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Home Depot said it will donate $50 million to train 20,000 people over the next 10 years to become construction workers, who in turn could be future customers.
home depot, training, building trades, worker shortage
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2018-22-08
Thursday, 08 March 2018 02:22 PM
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