Google will launch a new program to help Americans with job training and placement as it works to address the ongoing labor shortage and demand for better work conditions and career advancement opportunities.
Through its $100 million Google Career Certificates Fund, 20,000 Americans will gain skills within data analytics, IT support, project management, and other in-demand industries within three to six months “with no degree or experience required.”
The company aims to support Social Finance, which is a nonprofit finance organization that nurtures investments and collaborations across public, private, and social sectors.
“We are excited to support Social Finance to help expand economic opportunity for more Americans with our new $100 million Google Career Certificates Fund,” said Sundar Pichai, CEO of Google. “This innovative funding model brings together digital skills training and support services to connect more Americans to high-growth, high-paying jobs. We hope it will be transformative for people, their families, and their communities.”
U.S. Secretary of Commerce Gina Raimondo, who joined Pichai in the announcement, stated that the Biden administration will work alongside Google in an effort to help “women and parents fully participate in our economy.”
The program will not have any upfront costs and provide a “student-friendly” finance model. Program costs can be paid back through low interest, no interest payments if participants receive a job paying at least $40,000 annually.
Google added that repayments will be reinvested back into the program to expand the initiative and reach more Americans.