BlackRock Commits $13M to Skilled Trades Training Across 26 States…

Event summary

BlackRock awarded $13M in grants to 15 organizations to train over 5,400 workers in skilled trades across 26 states.
The initiative aims to support 50,000 American workers over the next 5 years with a $100M philanthropic commitment.
Grants target high-demand trades including electrical, construction, HVAC, welding, and plumbing.
Over 1,000 applications were received for the $25M national RFP, highlighting strong demand for skilled trades training.
BlackRock partnered with Jobs for the Future (JFF) to review applications and select grantees.

The big picture

BlackRock’s expansion of its Future Builders initiative underscores the growing need for skilled trades workers in the U.S. The $13M in grants reflects a strategic shift towards addressing labor shortages in critical infrastructure sectors. With over 1,000 applications for the RFP, the initiative highlights both the demand for such programs and the potential for BlackRock to influence workforce development on a national scale.

What we're watching

Scalability Challenges: Whether BlackRock can sustain the pace of training 50,000 workers nationwide within the next 5 years.
Impact Measurement: How effectively the grantees can translate training into long-term career pathways for participants.
Industry Demand: The pace at which the skilled trades labor market absorbs newly trained workers.