Bloomberg Pledges Funding for Community Colleges

Michael Bloomberg, the billionaire former New York City mayor and candidate for the Democratic presidential nomination, pledged in unveiling his economic plan Wednesday to make “major new investments” in community and technical colleges aimed at preparing workers for higher-paying jobs in new industries.

Bloomberg hasn’t yet released his full education proposal, and his All-In Economic Agenda was silent on high-profile issues like forgiving student loans.

However, Bloomberg said in the plan he’d make “education and training a national priority.” While some fast-growing industries are creating new jobs, “today’s workforce training approach is fundamentally ill-equipped to meet rapidly changing workforce and employee needs. That’s especially true given rising and changing requirements for new and changing jobs and careers.”

His proposal also did not give specifics or explain how he’d pay for it. But he pledged to spend billions in local communities for research and development in industries like agriculture, manufacturing and medicine.

The plan would invest in states, community and technical colleges, and others to work with employers to improve training for the skills employers say are needed. Additionally, the plan sets a goal to enroll one million students annually in apprenticeship programs, while making it easier for adults to get additional training, including creating a pilot program making Pell Grants available for short-term programs.