Prudential Financial to Invest $180 Million for Workforce Development Initiatives for Young Adults

Prudential Financial Inc. (PRU) announced it is committing more than $180 million through 2025 to support teens and young adults from age 15 through age 29 worldwide who lack access to school, training, or regular jobs.

This segment of the population is often referred to as “opportunity youth,” and Prudential said that this is the largest financial private-sector investment in this group.

“Businesses like ours have a role to play in ensuring that global economic progress benefits all members of tomorrow’s workforce,” said Prudential Chairman and Chief Executive Charles Lowrey.

Prudential said its investment will help teens and young adults across the globe gain the right skills to compete for and succeed in quality jobs.

This population segment accounts for 350 million people worldwide and Prudential said this investment will support dedicated partnerships through grants, corporate contributions, and impact investments to improve financial security for youth in more than 70 countries.

GrantWatch list workforce development grants for nonprofits and small businesses.  These grants are to run programs that will teach people of all ages how to gain marketable skills to increase their employability. Workforce development grants provide for programs that assist veterans, youth, displaced workers, women and immigrants to enter, remain in and advance in the workplace through career education, career training, solve workforce shortages, and promote workforce health.

Many grants for workforce development are state specific, like the below for Texas and North Carolina.

Grants to South Plains Area, Texas Nonprofits for Basic Needs, Education, Youth, and Social Services, Deadline: 8/01/2019

Grants of up to $10,000 to Texas nonprofit organizations for local community benefit initiatives in Lubbock and the surrounding South Plains area. Grants may be made for programs and projects in the areas of civic, social, and economic development; education and youth; and basic needs and self-sufficiency. The Foundation’s primary focus at this time is creating pathways out of poverty and alleviating the impact of poverty on individuals and families. Grants may be made for start-up funding, general operating support, program support, and demonstration programs.

Grants to North Carolina Nonprofits for Programs that Address Issues Affecting Women in Greensboro, Deadline: 7/29/2019

Grants of up to $70,000 to Greensboro, North Carolina nonprofits for innovative programs that support local women and foster their economic independence and self-sufficiency. Applicants must submit a letter of intent before applying. Priority will be given to organizations that are working on collaboration and the alignment of services.