Home Depot pledges $50 million to train 20,000 skilled laborers, military veterans wanted

(FOX Business) -- The Home Depot Foundation, a leadership arm for the company founded by Bernie Marcus, Arthur Blank and with the help of Ken Langone, hammered down on its pledge to closing the gap among skilled laborers in America.

It announced Thursday it would commit $50 million to train 20,000 tradespeople over the next 10 years, starting with separating military members and veterans, at-risk youth and members of the Atlanta Westside community, in an effort to reduce the number of unfilled construction sector jobs in the U.S. Currently, there are 158,000 unfilled jobs in the sector, according to data from the Bureau of Labor Statistics, which projects the total employment number of construction laborers to increase 10.5% by 2026. As FOX Business reported, many six figure jobs in the sector are going unfilled.

"We want to bring shop class back, from coast-to-coast," Shannon Gerber, executive director of The Home Depot Foundation, said in a statement. "We're thrilled to train 20,000 next-generation plumbers, electricians, carpenters and beyond. It's a true honor to welcome our first classes of separating soldiers as they transition to civilian life and into successful careers in the trades."

The foundation launched a pilot trades training program last year for separating military members in partnership with the Home Builders Institute (HBI) - a nonprofit dedicated to providing education, career development, training and offers job placement services for the building industry - on Ft. Stewart in Georgia and Ft. Bragg in North Carolina. The first set of students will graduate this month.