BETHESDA, Md., Jan. 15, 2020 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) is launching a groundbreaking vocational scholarship for high school seniors and college students pursuing vocational and trade degrees.

This effort is the first of its kind within the domestic aerospace and defense industry.

The program will award up to $6,600 each to 150 recipients this year. The scholarship will fund degrees at accredited vocational-technical schools to prepare students for careers in technology and advanced manufacturing that do not require a bachelor's or advanced degree.

"As a global leader in innovation, we recognize the urgent need to address our nation's skills gap by encouraging, attracting, and developing the next generation of workers in science, technology, engineering, and math," said Lockheed Martin Chairman, President, and CEO Marillyn Hewson.

"Lockheed Martin's new vocational scholarships will develop the skills of workers who want to work in advanced manufacturing, but do not choose to go to a four-year college. This program shows that our company is fully committed to preparing workers at every level for the competitive challenges of the modern global economy," Hewson added.

For the second year in a row, Lockheed Martin will also offer its four-year STEM Scholarship program.

This program is open to high school seniors and undergraduate students who plan to pursue a major in engineering or computer science, demonstrate financial need and come from underrepresented or underserved communities. In 2020, the program will award an additional 200 scholarships worth $10,000 in renewable funds per student.

Both these programs are being funded by proceeds from corporate tax reform and are part of a larger investment of $460 million by Lockheed Martin in education and innovation over a period of five years. The scholarships are one piece of Lockheed Martin's 2018 pledge to create 8,000 new workforce development programs and invest $50 million in educational enrichment programs.

The goal of these educational investments is to encourage students to consider a rewarding career in the technology and advanced manufacturing industry. 

The application is open from January 15, 2020, until March 12, 2020, and is being administered by Scholarship America, an organization with more than 60 years of experience designing and managing scholarship programs.

Visit the Vocational Scholarship page at https://www.lockheedmartin.com/vocational and the STEM Scholarship page at https://www.lockheedmartin.com/scholarship to learn more about eligibility requirements and to apply. 

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 105,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

SOURCE Lockheed Martin