3M plans on investing $50 million to bolster racial equity over the next five years, including through scholarships and donations to community groups.
Also, Maplewood-based 3M on Tuesday announced that its sales rose 2% in August, buoyed by a strong performance in its health care sector. The worldwide economic slowdown, though, continued to affect its stalwart safety and industrial business.
3M's racial equity initiative entails $10 million in spending over each of the next five years.
"We plan to invest locally in the Twin Cities because we believe we have responsibility as a corporate leader," said Garfield Bowen, 3M's director of social justice strategy and initiatives, a position created in August.
3M's initiative, like those at some other big Minnesota companies, comes after a nationwide racial justice protests spurred initially by George Floyd's death at the hands of Minneapolis police.
Bowen noted one expected outcome of 3M programs would be to boost equity in society and directly at the company. Some students would receive science scholarships, and then be mentored by 3M employees while in school and get internships at the company, all with the idea of eventually working at 3M.
3M's first investments will include $5 million toward the United Negro College Fund's scholarship and student support program for students in St. Paul — specifically for science, technology, engineering and math education.
The company also will expand its 3M Manufacturing & Academic Partnerships program in the St. Paul Public Schools.
