Time Warner Cable Inc. (NYSE: TWC) today pledged $100 million of cash and in-kind resources toward a five-year philanthropic plan to address America’s continuing decline in the areas of science, technology, engineering and math (STEM).
According to national experts, the next generation of youth in the United States is not prepared to take on the challenges of the 21st century. Eighty percent of jobs created in the next decade will require math and science skills. However, today’s students show declining interest in the subjects, with 84 percent of middle school students saying they would rather clean their room, eat their vegetables, go to the dentist or take out the garbage than learn math or science.*
“There clearly is an immediate need for youth to develop skills in science, technology, engineering and math,” said Ellen East, Executive Vice President and Chief Communications Officer. “A failure to do so puts our country, our communities and our children at risk of not competing successfully in a global economy. America is at risk of losing its leadership in technology and innovation as baby boomer retirements deplete the science and technology workforce by 50 percent over the next decade. We want to connect young people to hands-on learning opportunities in these areas, so they are prepared to solve the economic, environmental and community challenges of the future.”
Added East, "Technology and engineering are central to our company’s ability to connect millions of people to the entertainment they want, the information they depend on, and the people they care about most. As a result, Time Warner Cable’s new philanthropic focus creates a powerful link between the full strength of our company and the talents of our employees with the needs of students and, ultimately, our country.”
Research conducted in the communities served by Time Warner Cable indicated that this was an area of national and local importance. Time Warner Cable will focus on inspiring young people to build the STEM skills needed to become the problem solvers of tomorrow.
Bonnie Hathaway, Vice President of Public Affairs, added, “This is the next iteration of Time Warner Cable’s long-standing commitment to the young people in our communities. This new initiative will connect youth to after-school opportunities that can help instill a sense of wonder and discovery in young minds. We hope this will inspire a lifelong exploration of science and technology and believe this initiative will make a meaningful, measurable difference in our communities.”
Elements of the plan will include a national advisory board of experts from several related fields, best-in-class national partners, programs that use Time Warner Cable’s video, data and voice platforms to engage youth in grades K-12 in science and technology activities, and employee participation.
About Time Warner Cable:
Time Warner Cable is the second-largest cable operator in the U.S., with technologically advanced, well-clustered systems located mainly in five geographic areas — New York State (including New York City), the Carolinas, Ohio, southern California (including Los Angeles) and Texas. As of December 31, 2008, Time Warner Cable and Time Warner Cable Business Class together served more than 14 million residential and commercial customers who subscribed to one or more of its video, high-speed data and voice services. Time Warner Cable Media Sales, the advertising arm of Time Warner Cable, offers national, regional and local companies with innovative advertising solutions that are targeted and affordable. More information about the services of Time Warner Cable is available at www.timewarnercable.com, www.twcbc.com and www.twcmediasales.com.
*National Science Foundation and 2005 Raytheon Corporation Survey