Stanley Black & Decker (NYSE:SWK) plans to invest $1 billion across its U.S. operations through 2028, with spending focused on research and development, manufacturing capabilities and workforce development.
The New Britain, Connecticut-based company said the programme is intended to support the development of new products while strengthening its domestic manufacturing infrastructure and preparing workers for skilled trades roles.
Half of investment targeted at research and development
Approximately 50% of the planned $1 billion investment will be directed towards research and development activities covering new tools and other products.
The remaining half will be allocated to capital expenditure and improvements to Stanley Black & Decker’s manufacturing infrastructure across the United States.
“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,” said Chris Nelson, President and Chief Executive Officer of Stanley Black & Decker.
The investment reflects the company’s strategy of combining product innovation with increased spending on its U.S. production capabilities.
Dewalt programme targets skilled trades workforce
Alongside the broader investment plan, Stanley Black & Decker has committed $60 million through 2030 to its Dewalt Grow the Trades initiative.
The programme is designed to expand training opportunities and help increase the number of workers entering skilled trades. Of the total commitment, $27 million has already been deployed.
The company cited an industry projection estimating that nearly 500,000 additional skilled trades workers will be required by 2027, highlighting the labour challenges facing U.S. manufacturing and related industries.
Manufacturing investment aims to strengthen U.S. operations
Jay Timmons, President and CEO of the National Association of Manufacturers, said the planned spending “reinforces our industrial foundation” and “opens doors to new economic opportunities.”
Stanley Black & Decker employs approximately 41,000 people and maintains a global network of manufacturing facilities.
Its portfolio includes several widely recognised tool and equipment brands, including Dewalt, Craftsman, Stanley, Black+Decker and Cub Cadet.
The $1 billion investment programme will give the company additional resources to expand product development, upgrade domestic manufacturing capabilities and support workforce training through 2028.
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