Target is putting its money where its mouth is.
In 2021, the retail giant announced a commitment to advance racial equity, including increased investments with Black-owned businesses by more than 50 percent. In addition to this commitment, the popular Minnesota-based retailer is enhancing its Target Scholars Program with updated extensions and additional resources.
Partnership Is Key
In 2021, Target partnered with the United Negro College Fund (UNCF). The collaboration birthed a program that supports 1,000 HBCU students studying technology, design, and leadership. While the retail giant has wrapped up with that particular class of Target Scholars, their work with the group is not complete.
According to a blog post, Target will celebrate the students by financially supporting them throughout their collegiate careers.
“Target is continuing our longstanding work to invest in and accelerate the next generation of Black talent,” Damu McCoy, vice president of talent acquisition, said in the press release. “The Target Scholars program is one example of that overall commitment, providing both financial support and the mentorship and networking resources to further strengthen students’ experiences and help them reach their career destination.”
Each student will receive $10,000 in additional financial support over the next three years of school. This monetary support is in addition to access to resources that include mentoring, coaching, and internships.
Furthermore, Target has a plan to support HBCU students to ensure they have the opportunity to be a part of its program in the case of an academic transfer.
The next chapter of Target scholars is successful in part because of its longstanding relationship with UNCF. Working closely with the organization has strengthened its relationship and impact on the community.
“Working closely with UNCF, our partner of more than 20 years, we’ve designed the next chapter of Target Scholars to serve them even better in the coming years as they complete their degrees. It’s a true example of our Target Forward vision in action as we work to co-create an equitable future together with our guests, partners and communities,” the blog post reads.
Target had a chance to check in with some of the current class of scholars.
Click here to check out their stories.
The Support Doesn't Stop
The Target Scholars program is one of the many ways the retailer is dedicated to specifically providing support to Black communities as a part of their Racial Equity Action and Change (REACH) commitment to invest more than $2 billion with Black-owned businesses by the end of 2025.