Bank of America is funding equity-focused job initiatives at Delaware State University

Historically Black Delaware State University (DSU) and Bank of America (BoA) have announced a $1 million jobs initiative partnership, with a focus on helping Black and Latinx students go on to become successful members of the workforce in Delaware and beyond.

This initiative is part of the bank’s recent $1 billion, four-year commitment to advance racial equality and economic opportunity, and its $25 million commitment to “enhance upskilling and re-skilling for Black/African American and Hispanic-Latino individuals.” DSU is part of the latter initiative that includes partnerships with nearly two dozen community colleges predominantly serving Black and Latinx students, public historically Black colleges and universities (HBCUs) and public Hispanic-serving institutions (HSIs).

With the funding, DSU will boost its Delaware Executive Exchange Program to include more career readiness services, as well as increase internship opportunities related to needed skills identified by Bank of America and other companies, such as Delmarva Power.

“In my career in private, public and nonprofit sectors, I have heard many leaders who called for more Black talent across their organizations faced with a common retort: ‘We are having trouble finding them.’ The earnest truth is that these organizations need to be more intentional,” said DSU President Tony Allen in a statement.

“Today’s HBCUs represent only 3% of the nation’s colleges and universities, but are still graduating nearly 25% of Black college students, including 50% of Black engineers, 50% of Black teachers, 70% of Black doctors, 65% of Black attorneys and judges, and many, many more,” he said. “We are expecting our partnership with Bank of America to be a model of our community and welcome other committed companies to the table.”

In 2020, BoA provided nearly $4 million to Delaware nonprofits focused on economic mobility and connecting individuals with opportunities to obtain skills and employment, the bank said.