Stanley Black & Decker to Invest $1 Billion in U.S. Innovation, Workforce Training
Global tools manufacturer Stanley Black & Decker will invest $1 billion into the U.S. in the next two years to further innovation, develop next-generation tools and increase skilled-workforce training opportunities, it announced on Wednesday (Stanley Black & Decker).
What’s going on: “Of the $1 billion Stanley Black & Decker plans to invest through 2028, approximately 50% will go to research and development to accelerate the creation of next-generation tools and breakthrough solutions for trades professionals.”
- The other half will go toward capital expenditures and long-term investments to shore up the Stanley Black & Decker manufacturing footprint in the U.S. and develop new products.
- The White House posted on social media shortly after the announcement, citing the investment as part of the “Trump effect.”
Why it’s important: The news comes “at a time when construction and industrial customers are under pressure to increase productivity” (citybiz).
- Stanley Black & Decker views advancements in tools and on-site technology as a crucial part of the skilled labor shortage solution.
In related news: The firm has also said it will invest $60 million via its DEWALT Grow the Trade endeavor through 2030.
- Some $27 million of that money has already been used to expand training programs.
The NAM says: “For more than 180 years, Stanley Black & Decker has helped define what it means to make things in America—innovating, investing and creating opportunities for manufacturing workers and the communities they serve,” NAM President and CEO Jay Timmons said in a press release.
- “These investments not only reinforce our industrial foundation—they open doors to new economic opportunities and secure a brighter future for communities across the country. This is the kind of vision that propels our industry forward.”
