Lowe’s pledges $ 10 million to rebuild communities nationwide to celebrate 100th anniversary

Lowe’s celebrates its 100th anniversary with a $ 10 million commitment to help rebuild and restore communities in the country that continue to suffer from natural disasters.

Ticker	Safety	Last	Alter	Alter%
LOW	LOWE’S COS., INC.	162.92	+4.34	+ 2.74%

On March 9, the North Carolina Home Improvement Company, whose mission has always been to give back to the communities it serves, begins an initiative to complete 100 impact projects over the course of 2021.

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The effort – called 100 Hometowns – is an opportunity to ‘beautify forgotten spaces’, CEO Marvin Ellison told FOX Business.

Until April 19, people across the country have a chance to nominate a project in their hometown that needs funding.

Ellison says the awards for each project, which uses Lowe’s products, expertise and in some cases his own collaborators, will be rewarded, Ellison said. Each project is expected to be completed by the end of the year.

Qualifying projects include the restoration and reconstruction of community spaces such as parks, senior centers and youth centers and neighborhoods in the area, as well as cultural preservation and revitalization of the area.

According to Lowe, each project is funded based on the unique needs of the local community.

“It’s our way of making the communities we live in better,” Ellison said, adding that it “is actually about making a difference, not by looking in, but by looking out.

Helping the community has always been a central focal point since the early days as a small-town hardware store in North Carolina, becoming one of the largest home improvement retailers, according to Ellison.

For its 100-year existence, however, Ellison said the company wants to be more purposeful in its efforts to help, especially after such an unprecedented year shaken by COVID-19 and extreme weather.

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“Last year, we threatened to understand that we need to make a more active effort to support our community with the pandemic,” Ellison said. Over the course of 2020, Lowe’s issued nearly $ 1.3 billion to employees, communities and store safety. The company also issued several rounds of bonuses to frontline employees throughout the year, while also providing financial assistance to small businesses in rural, minority and women’s ownership.

Lowes also continued to provide aid and supplies to communities hard hit by disasters such as wildfires and hurricanes.

The company’s latest initiative only underscores the company’s “years of support from communities in the areas where we live and work,” Ellison said.

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A team will evaluate each submission to determine the level of need and the business’s ability to support the community.

Ellison said the company will also focus on ensuring that the projects are ‘balanced’, meaning that there will be ‘land’ – from rural to urban to suburban projects – that reflects the diversity of our country and communities. ‘

To tackle his latest effort, Lowe has teamed up with country music star and former Lowe collaborator Kane Brown. Together, they will renovate and repair the East Lake Boys & Girls Club in its hometown of Chattanooga, Tennessee.

100 Hometowns is a first-class program to celebrate the company’s centenary. However, Ellison said the company will continue the program if it is successful.

“It all depends on whether we feel we have made a positive impact,” he said.

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