Bank of America Gives Atlanta Technical College $1 Million for Jobs Initiative
Friday, November 20th, 2020
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, 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: