Stanley Black & Decker has committed $1 billion to a series of initiatives in the U.S. to improve research and development and invest in its manufacturing capacity.
The New Britain-based toolmaker says that half the investment will go toward innovation to accelerate the creation of next-generation tools for trades professionals. The other 50% will support capital expenditures and long-term investments to strengthen the company’s U.S. manufacturing footprint and support new product development.
The money will be deployed through the end of 2028.
“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,” said CEO Chris Nelson.
The company says that the initiative also comes in response to challenges facing the construction sector, one of Stanley’s key markets. According to the company, construction companies need to boost productivity while closing a widening skilled trades gap, with nearly half-a-million new workers needed by 2027.
Stanley says the new investment comes in addition to its previously launched $60 million DEWALT Grow the Trades initiative, which runs through 2030. Some $27 million has already been deployed in the project, which aims expand training programs and open career pathways in the skilled trades.
Earlier this year, Stanley Black & Decker closed its one remaining manufacturing plant in Connecticut, a facility in New Britain that made tape measures. Its U.S. manufacturing plants encompass some 18 other states. The company has not yet given details of where it will deploy the newly announced investment, or whether it will include any initiatives in Connecticut.
