November 19, 2020
$25 Million National Program Supports Programming, Reskilling, and Upskilling for Students; Includes Partnerships with Major Employers and The Aspen Institute
ATLANTA — Atlanta Technical College and Bank of America today announced a new $1 million jobs initiative partnership to help students successfully complete the education and training necessary to enter the workforce and embark on a path to success in Atlanta. This initiative builds on Bank of America’s ongoing work in Atlanta to address the underlying issues facing individuals and communities of color who have been disproportionately impacted by the current health crisis.
“For 53 years, Atlanta Technical College has built a successful program for technical training and job placement,” said Wendy Stewart, Atlanta market president for Bank of America. “Our partnership will further expand on their initiatives to ensure underserved students have a guided career pathway into high-wage, in-demand jobs.”
Over the past five years, the bank has provided $4.1 million in grants to nonprofits that are connecting individuals to skills and employment in Atlanta. The initiative is part of the bank’s recent $1 billion, four-year commitment to advance racial equality and economic opportunity, and its $25 million commitment to enhance upskilling and reskilling for Black/African American and Hispanic-Latino individuals.
Including Atlanta Technical College, the $25 million, the nationwide initiative includes partnerships with nearly two dozen community colleges that serve predominantly Black/African American and Hispanic-Latino students, public historically Black colleges and universities (HBCUs), and public Hispanic-serving institutions (HSIs). Bank of America is also partnering with and providing funding to the Aspen Institute to convene the participating higher education institutions for technical and programmatic assistance and to share best practices.
Today, less than 40 percent of community college students earn a certificate or degree within six years of enrollment. For students of color, graduation and completion rates are particularly low – 28.8 percent for Black students and 37.1 percent for Hispanic students. Although HBCUs and HSIs are a mix of public and private institutions, the ongoing challenges brought on by the coronavirus have exacerbated their financial struggle as they seek to serve students from the most vulnerable communities.
“We are appreciative of this transformational gift from Bank of America. With a $200 million economic impact, Atlanta Technical College continues to demonstrate that we are worth the investment of public and private dollars,” said Dr. Victoria Seals, Atlanta Technical College president. “The investment from Bank of America will accelerate our impact in training and preparing the underserved, unemployed and underemployed citizens of Fulton and Clayton counties to advance economic mobility.”
With the support from Bank of America, Atlanta Technical College will enhance existing programs within the Center for Workforce Innovation (CWI) to meet specific skills gaps to create higher-paying, family-sustaining jobs that are in demand. Bank of America will work alongside employer partners in Atlanta to ensure these programs target specific hiring needs and create a clearly defined career pathway to future employment.
“The team at ATC is extremely thankful to have been selected to receive this generous grant from Bank of America,” said Dr. Katrina Hunter, executive director of Center for Workforce Innovation (CWI). “With this support, the CWI will be able to continue the very important work of ensuring that today’s emerging professionals are best prepared for the career opportunities of tomorrow.”
Focused on advancing economic mobility, Bank of America also recently announced:
- Seven Completed Equity Investments in Minority Depository Institutions and Community Development Financial Institution Banks
- $2 Billion Equality Progress Sustainability Bond
- Universal ESG Reporting; International Business Council of World Economic Forum
- Recognition as Top Global Bank on Fortune’s “Change the World” List
- $300 Million of Its $1 Billion, Four-Year Commitment to Advance Racial Equality and Economic Opportunity
- Support of Boys & Girls Clubs of America With $1 Million Grant to Support Educational Programs
- $1 Billion/4-Year Commitment to Support Economic Opportunity Initiatives
- $250 Million in Capital and $10 Million in Philanthropic Grants to Community Development Financial Institutions (CDFIs)
Bank of America
At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Learn more at about.bankofamerica.com, and connect with us on Twitter (@BofA_News).
For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for email alerts.
Atlanta Technical College
Atlanta Technical College is a vibrant part of the Technical College System of Georgia and was named its College of the Year in 2012. Prior to that, the college was selected as America’s Best Community College by Washington Monthly magazine. Most recently, Atlanta Technical College has been ranked one of the best in the nation for online courses and programs. In 2017, Atlanta Technical College celebrated 50 years of serving the City of Atlanta along with Fulton and Clayton counties. For more information on Atlanta Technical College and its 150 programs, visit www.atlantatech.edu.
Reporters May Contact:
Matthew Daily, Bank of America
Dorna Werdelin, Atlanta Technical College