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Insights > Empowering future generations: Supporting our local HBCUs
Empowering future generations: Supporting our local HBCUs
07/26/2024
At Entergy, we power life. We’ve been in business for more than 100 years, and our purpose has never changed. We power life by creating sustainable value for our customers, employees, communities and owners. This goes beyond providing safe, reliable, affordable and sustainable energy – it also means being there for all the moments that matter. It means making a lasting impact that powers a brighter future for all.
As an industry leader, Entergy has an opportunity to help develop future generations of the energy workforce by strengthening awareness and promoting the advantages of careers in our field. We are sharpening our focus, elevating different perspectives, and ensuring that everyone with the talent and desire has an opportunity to succeed.
A sustained path forward
We have an established history of working with educational institutions to develop a workforce that not only supports our own needs, but also bolsters the continued economic development of the Gulf South region. We live here. We work here. We raise our families here. What matters to the communities we serve and to our customers, matters to us.
That’s why we’re proud to continue our longstanding support of Historically Black Colleges and Universities with a 10-year, $20 million commitment to elevate and empower the institutions and their students through academic scholarships, facility grants and endowments, workforce development programming, internship experiences, access to resources and financial aid and generational wealth building.
Education creates opportunities for all individuals to realize their full potential, and, to that end, we understand the vital role that HBCUs play. We want to broaden the path to employment for HBCU students by ensuring they have access to resources and experiences, and also by closely collaborating with their educators and administrators to ensure they are equipped with the relevant skills needed for success.
Through this $20 million commitment, we hope to see our partner schools increase student retention, improve graduation rates and expand post-graduation job placement opportunities. For the students, their families and their communities, we look forward to outcomes like increased access to capital, improved household economic stability and better lifetime earning potential.
Building on our past progress
Our commitment to supporting HBCUs creates opportunities through education, career readiness and workforce development. Since 2018, we have invested more than $7.4 million in HBCUs in our service area for facility and curriculum improvements, technology upgrades, mentoring programs, research study collaborations, internship/co-op opportunities and more.
For example, at Southern University, the Entergy Scholars Program provides engineering majors with hands-on skills that prepare them for early career positions. And to close the gap between academia and industry, our Entergy Faculty Extern Program regularly invites STEM educators from regional HBCUs to participate in facility tours and job shadowing, which helps them better prepare their students for careers in energy.
Investing in students, and in our communities, is core to our values, and we know that education alone is not enough. We must also work to close the racial wealth gap. That’s why Entergy launched The Power of Prosperity program in 2023. The program consists of two components: removing barriers to student success through a partnership with Single Stop, a national nonprofit that connects students and their families to resources and funding from local, state and federal sources. The second component of the program consists of a partnership with Stackwell Capital through which we will equip students with the knowledge, tools and resources – including seeded investment accounts – to build generational wealth, which is a foundation for economic stability, access to opportunity and long-term prosperity. By investing more than $700,000 in the pilot program, our shareholders are helping 1,200 HBCU freshmen in New Orleans unlock new opportunities.
Today, with this new $20 million commitment, we are able to expand The Power of Prosperity Program throughout our service area so that HBCU students across Louisiana, Mississippi, Texas and Arkansas will have new doors opened to them through our partnerships with Stackwell Capital and Single Stop.
Through these partnerships, our goal is to help students graduate on time, with minimal debt and equipped with an investment account and the ability to build wealth with intention. By investing in our HBCU students, we are investing in the next generation of leaders who will shape our communities, drive innovation and bring about positive change.
Looking ahead
An educated, skilled and diverse workforce is critical to Entergy’s long-term success, as well as the health and viability of the communities we serve. Empowering the HBCUs in our region is one of the best ways we can contribute to the quality of life in our communities.
Entergy also maintains partnerships with organizations such as the National Urban League, NAACP, the American Association of Blacks in Energy, National Society of Black Engineers and the Center for Energy Workforce Development, which all work to foster diversity and create inclusive communities.
We also continue to collaborate with local leaders and federal policymakers to ensure that funding opportunities are prioritized and that there’s a regulatory environment conducive to growth. We’ll continue to fight for every dollar of federal funding that we can leverage to benefit our customers and communities.
I’m proud of the progress we’ve made so far, but there is more work to do. Entergy will enthusiastically take on that work to create new opportunities and forge this path forward.
Learn more and stay up-to-date with Entergy’s latest HBCU partnerships.
