Stanley Black & Decker announced a $1 billion investment in U.S. to advance innovation, develop tools and solutions and increase access to training opportunities to expand the skilled trades workforce.

Of the $1 billion Stanley Black & Decker plans to invest through 2028, approximately 50% will go to research and development to accelerate the creation of next-generation tools and breakthrough solutions for trades professionals. The other 50% will support capital expenditures and long-term investments to further strengthen its U.S. manufacturing footprint and support new product development.

In addition, the company has also committed to investing $60 million through its DEWALT Grow the Trades initiative through 2030 — of which $27 million has already been deployed — to expand training programs and open new pathways to careers in the skilled trades.

“Our U.S. investment strategy has multiple dimensions and goes far beyond expanding manufacturing — it’s about igniting innovation, building world-class capabilities and redefining the future of work in America,” Stanley Black & Decker’s President and CEO  Chris Nelson said in a Aug. 12 news release.”By leaning into research and development and investing in the future of our U.S. operations, we are setting the benchmark for next-generation products and solutions. These investments will empower America’s tradespeople to work safer, reach new levels of productivity and rise to help solve the nation’s toughest challenges.”

Jay Timmons, President and CEO of the National Association of Manufacturers, said these investments “not only reinforce our industrial foundation — they open doors to new economic opportunities and secure a brighter future for communities across the country. This is the kind of vision that propels our industry forward.”

Stanley Black & Decker reported second-quarter net sales of $4 billion, flat from a year earlier but up 3% organically as higher volumes offset portfolio changes.