New Capital One Impact partnership sparks university return to Wilmington

August 6, 2021

Partnership highlighted with a $ 4.7 million donation from the bank’s Riverfront Facility The bank and the university will also deepen recruiting relationships, broaden career paths for students.

After nearly a decade of activity in northern Delaware alone through its satellite campus on Kirkwood Highway, Delaware State University is partnering with Capital One to return to the city of Wilmington and significantly expand its offerings to the heart of the One Core. metropolitan state.

Capital One’s historic donation of its $ 4.7 million Wilmington Riverfront facility to the University will be associated with significant enhancements to its recruiting partnership with the school to create more opportunities for Delaware state students to pursue careers with Capital One in areas such as business analysis, technology and product development.

“This greatly expanded footprint within Wilmington and Capital One’s commitment to long-term engagement with the youth of the region is exactly what the university needs to harness our special strengths. on the issues facing the city, ”said Tony Allen, president of Delaware State University. “Together, we will be able to reach young people in the city more directly to create an innovative pipeline to college and career; offer both graduate courses and workforce development training in an accessible location; and better support our Research Center on neighborhood revitalization [] to address the structural and economic challenges facing Wilmington.

“At Capital One, we know that HBCUs are engines of economic mobility,” said Joe Westcott, president of the bank’s Delaware market, “and we are proud to invest in Delaware State University’s proven ability to advocate for educational equity, academic excellence and the creation of innovative career paths for computer science students. This partnership invests in the talent and promise of these students and is an important step in reaffirming Capital One’s long-standing commitment to Wilmington and the entire state of Delaware.

The anchor of the new partnership is the donation by the bank of its One South Orange building to the University. The property, built in 1885, renovated in 2001, was occupied by part of Delaware’s Capital One company until the end of 2018 before consolidating offices in downtown Wilmington. The facility contains 35,000 square feet with six floors, an open floor plan, and personalized meeting space.

“The partnership between Capital One and Delaware State University will help strengthen our world-class workforce and make Delaware the best place to live, work and raise a family,” said Governor John Carney (D- OF). “Today’s announcement shows what we can do when we work together. Delaware State University is a mainstay in our state, educating many Delaware people who eventually become leaders in our economy. We look forward to seeing many more leaders in the future benefit from this partnership. “

The new space will initially be the headquarters of the university school for graduate studies, adults and continuing education, a new partnership with the Teen Warehouse and its Workforce Development Center, and an incubation center for micro and small businesses with a particular focus on minorities and women businesses.

Capital One and Delaware State will also deepen their recruiting relationship to expand opportunities for students to pursue careers within the company, with an emphasis on roles in business analysis, technology development and product development. The bank will assign a dedicated recruiter to work with the University to increase the hiring of its graduates by Capital One. It will also look to seed the first talent pool by expanding access to Capital One’s development programs for first-year and sophomore students, such as First Gen Focus (for first-generation students) and HBCU Tech. Mini-Masters, a two-week coding skills program to prepare students for STEM-focused internships.

“I am so proud of Delaware State University which has become the first-class research HBCU and economic engine for the region it is today,” said US Senator Tom Carper (D- OF). “Now, DSU will breathe new life into downtown Wilmington when it moves into the Capital One building. I applaud Capital One and DSU for taking this opportunity to reach more students in our state. It’s a win-win for Delaware! The hornets get up! “

Capital One’s Westcott highlighted that the partnership marks an important milestone in Capital One’s HBCU recruitment and advocacy strategy and a broader commitment to advancing racial equity through the Capital One Impact initiative. [], a five-year, $ 200 million commitment launched in 2020 to support growth in underserved communities and advance socio-economic mobility by closing gaps in equity and opportunity. Capital One Also Provides $ 1 Million Champions for Change [] grant to Thurgood Marshall College Fund and United Negro College Fund to help strengthen HBCUs.

Capital One and Delaware State University are strong supporters of the passage of the IGNITE HBCU Excellence Act. [], bipartite legislation co-sponsored by US Senator Chris Coons (D-DE), making historic federal investments in HBCUs and strengthening public-private partnerships to improve and develop these world-renowned institutions.

“This generous donation from Capital One to Delaware State University will invest in student prosperity and elevate the stature of one of the first public HBCUs in the United States,” said Senator Coons. “Right now, I am working hard in the Senate to pass the IGNITE HBCU Excellence Act, a landmark bipartisan bill that would repair and modernize the HBCU campuses that serve as gateways to success for thousands of students. As we work to provide this transformational support for campus infrastructure, I am delighted to see Capital One and the State of Delaware team up to pave the way for future generations of Hornets to learn and grow along the way. Wilmington River.

Meaning. Coons and Carper were joined in their enthusiasm for the donation and the expanded partnership by their fellow member of the Delaware congressional delegation, Representative Lisa Blunt Rochester (D-DE).

“Today’s announcement from Capital One and Delaware State University represents another exciting and innovative development for DSU under the leadership of Dr. Tony Allen. This donation is also a remarkable reflection of Capital One’s generosity and commitment to both Delaware’s only HBCU and our state’s largest city, ”said Representative Blunt Rochester. “The return of DSU to the City of Wilmington will be a huge boost to economic development, help the State of Delaware build relationships with alumni within the city and allow DSU to engage earlier with students, giving them access to an incredible talent pool from which to recruit. This donation will also allow Delaware’s adult education efforts to reach the city of Wilmington – an issue that excites me as the founder and co-chair of the Congressional Future of Work Caucus. This partnership, made possible by the generosity of Capital One and the creativity of the State of Delaware, will create a better and brighter future for the Hornets, for the city of Wilmington and for our entire state. “

The University will not abandon its facility in Kirkwood. Last November, New Castle County Director Matt Meyer awarded $ 5.5 million from the Federal Cares Act to help the university build its own molecular diagnostic laboratory at the Kirkwood site, a former site. Army Reserve assigned to the university in 2013. America and County, in just six months, the University reduced the cost of COVID-19 testing from $ 50 per test to just under $ 8. He will now expand the facility to test and analyze other infectious diseases.

Delaware State Graduate School Dean Patrice Gilliam-Johnson noted that the University would also take the opportunity to focus on completing the necessary renovations to its Kirkwood Highway facility, which now includes the only laboratory in Delaware COVID-19 test. [] “Once we have completed the transition period,” she said, “the University will have a presence in northern Delaware that will exceed 100,000 square feet and will be able to have a major impact on the greater metropolitan area. “

“Welcome home DSU and thank you Capital One!” Wilmington Mayor Mike Purzycki (D-DE) said. “Wilmington will soon have an even better chance of helping its residents achieve prosperity, as a core university partner will be part of the effort. And Capital One has once again mobilized to help the people of Wilmington and this region. Thanks to DSU and Capital One’s commitment to education and community, Wilmington’s efforts to change lives forever have become much more energized. DSU’s HBCU roots are important to Wilmington as many of our residents are graduates of Delaware State University and have contributed significantly to the success of our city. So the city where HBCU week was born and nurtured couldn’t be happier with this announcement.

About Capital One: Capital One, headquartered in McLean, Va., Provides a wide variety of financial products and services to consumers, small businesses and commercial clients through a variety of channels. A Fortune 500 company, Capital One is listed on the New York Stock Exchange under the symbol “COF” and is part of the S&P 100 Index. Capital One was founded on the premise that great talent, great analysis and big technology could revolutionize financial services and democratize credit. We believe that attracting, hiring and empowering great people can change banking for good.

About Delaware State University: Delaware State University is the third historically black university / public university in the country (US News & World Report) and an R2 doctoral research institution, with a 130-year history of providing high-quality, low-cost education. cost to all. The University is the No. 1 supplier of professional pilots of color in the country; Delaware’s # 1 supplier of nurses, teachers, social workers, and accountants of color. By expanding its footprint statewide, the University recently completed the historic acquisition of Wesley College in downtown Dover. For more information visit DESU [] []in line.


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