BlackRock, the world's largest asset manager, has launched a $100 million initiative to train and place 50,000 skilled trades workers over the next five years. The program, named Future Builders, is designed to address shortages in professions critical to building and maintaining the infrastructure required for the United States' technological advancement and energy resilience.
The initiative, spearheaded by BlackRock's philanthropic arm, targets electricians, welders, plumbers, HVAC technicians, and wiremen. These roles are essential for constructing the energy infrastructure needed to power an anticipated artificial intelligence boom. BlackRock co-founder and CEO Larry Fink has estimated that the U.S. will need to spend $10 trillion on data centers and related energy infrastructure in the coming years.
"In order for the infrastructure that the United States needs to be built for to become energy resilient, we need these skilled trades," said John Kelly, BlackRock's Global Head of Corporate Affairs. "We're investing in both the projects but also the people." He added that the demand for these workers is growing due to the nation's race to scale energy infrastructure.
Future Builders aims to create a narrative that future American growth will still rely on workers with practical skills, countering anxieties about job displacement due to AI. BlackRock is partnering with existing organizations that have established track records in training and placing workers, rather than developing programs in-house.
"We're not experts on training people. We're experts in investing," Kelly stated. "We are partnering with organizations that are currently already doing this right." The initiative also seeks to help these workers build long-term financial security.
This effort is part of a broader push to engage corporate America in supporting skilled trades. BlackRock is collaborating with major companies including Walmart, Home Depot, Carhartt, Google, and Meta. Kelly highlighted that BlackRock's own success story, founded by eight partners, informs its optimism about American potential and the importance of supporting its workforce.
"This is BlackRock’s role and purpose, which is to help … 35 million American men and women working hard to help them invest better to live better and to retire with dignity," Kelly said. "And we’ve done that with police officers, with firefighters, nurses and teachers now doing that with skilled trades."
Kelly emphasized the urgency of the situation, framing it as a geopolitical race. "We have to move quickly as a country," he said, while maintaining an optimistic outlook based on America's history of overcoming challenges. "America has always risen to the occasion. We know how to mobilize and we know how to work hard."