Staying Competitive Through Education: The President and American Business Leaders Announce New Commitments
11:42 AM EDT
On July 18th, the President hosted an education roundtable with key leaders in both the private and public sectors to discuss ways we can ensure a competitive American workforce. The attendees, including business leaders, Secretary of Education Arne Duncan, Senior Advisor Valerie Jarrett, Domestic Policy Council Director Melody Barnes, and General Colin and Mrs. Alma Powell of the America’s Promise Alliance, talked about expanding strong industry-led partnerships that are working to transform the American education system.
The President’s meeting with America's CEOs builds on his continued focus on addressing the pressing needs of educating our children:
“A world-class education is the single most important factor in determining not just whether our kids can compete for the best jobs but whether America can outcompete countries around the world. America's business leaders understand that when it comes to education, we need to up our game. That's why were working together to put an outstanding education within reach for every child.”
The private sector is responding to the President's challenge with more than financial support: Corporations have made commitments that take advantage of their areas of expertise and the skills of their employees. These undertakings include programs like Change the Equation, which focuses on corporate investment in the areas of science, technology, engineering and math (STEM) education, Skills for America’s Future with its support of business partnerships with community colleges, and the President’s Council on Jobs and Competitiveness.
Four major commitments are being announced today:
1) Community Engagement and Investment to Transform the Nation’s Lowest-Performing Schools: America’s Promise Alliance Grad Nation Community Impact Fund will raise $50 million to support the goal of ending the dropout crisis and prepare young people for college and career. The first planning grants from this social venture fund will be awarded in the fall to communities that demonstrate a commitment to local action aligned with the goals of the Grad Nation Campaign, including student supports for our most vulnerable young people. Applicants will be communities with a low-performing school and a willingness and capacity to build a multi-sector, collaborative approach that includes partnerships with the business community and local school system, and the capacity to raise matching funds to promote local investment to sustain this work.
2) Expanding Opportunities for Students to Prepare for Livable Wage Jobs: Bank of America will announce a $50 million pledge to education over the next 3 years, launching this goal through $4.5 million in grants. The investment will support programs that bridge the achievement gap to post-secondary education completion and connect the underserved and unemployed, as well as returning veterans, and individuals with disabilities, to workforce success in high-growth sectors, in particular through community colleges. Recognizing the need for knowledgeable and skilled workers to compete in the global economy, Bank of America is investing in education as part of its comprehensive lending, investing and volunteer activities aimed at strengthening the economic and social health of communities.
3) Research and Development for Next Generation Learning Models and Resources for Students and Teachers: Building on its history of commitment to education and recent $25 million STEM Scholarship grant program in Washington State, Microsoft Education is announcing a new $15M investment in research and development for immersive learning technologies including game based instruction and the creation of a lifelong learning digital archive. Through the creation of these innovative solutions, the disengaged can become passionate problem solvers and the struggling student can be offered other pathways to success. Rooted in this investment is the understanding that technical innovation alone will not help. Therefore, over the next 3 years, Microsoft is committing to train over 150 thousand educators and leaders and provide access to professional learning communities and training to every teacher in the United States through the new Partners in Learning Network.
4) Supporting a Statewide Focus on Education System Redesign: In the past four years, the Nike School Innovation Fund (NSIF) has provided $7 million in innovation grants and thousands of volunteer hours by senior Nike leaders and other employees to support students, teachers and principals in three Oregon public school districts. The Fund is announcing a new commitment as a primary partner of Oregon Governor John Kitzhaber and his initiative to help make the state’s entire education system more nimble, innovative and supportive of the key grades of 9 to 12. With this news, Nike’s commitment to strengthening education in Oregon totals $10 million. The NSIF will now provide a year of funding, expertise and policy guidance that is expected to serve as a model for the Governor’s larger statewide education transformation plan.
The President is dedicated to keeping America’s workforce competitive, an achievement that can only be reached through addressing the pressing needs of American education. This week’s education roundtable is a clear example of the President’s dedication, and these new commitments are evidence that America’s business leaders share his concern and his belief that change is possible.