Sandra Lawson
Managing Director, Global Corporate Affairs
Key points
The infrastructure buildout is an opportunity for people
Modernizing old systems and building new AI and energy infrastructure will require not just trillions in capital but also skilled workers to build it.
Infrastructure improves economic growth and daily life
Infrastructure boosts productivity and growth and improves quality of life. Each dollar invested delivers outsized impact, including AI-enabling infrastructure.
Skilled trades can offer well-paid, resilient careers
Employment in skilled trades is projected to grow faster than the US workforce, creating hundreds of thousands of new jobs.
Coordinated action can strengthen the jobs pipeline
Coordination among employers, policymakers and educators is crucial to meeting the fast-changing needs of the labor market.
Setting the stage: the infrastructure opportunity
The world is entering what could be the largest construction period in human history. As much as $85 trillion in new infrastructure investment may be needed over the next 15 years to modernize aging systems and build new energy, digital and AI‑era infrastructure.1 With public balance sheets constrained, private capital will need to play a central role.
Across developed economies, roads, bridges, power grids and water systems built decades ago are reaching the end of their useful lives. At the same time, urbanization and population growth are driving demand for new infrastructure in emerging markets.
Additionally, shifts in global trade, including nearshoring and supply-chain diversification, are increasing the need for new manufacturing, logistics and energy capacity. AI will further amplify demand, particularly for data centers and electricity, with global power consumption set to rise sharply.
Infrastructure underpins economic growth and everyday life. Reliable transportation, energy, communications and water systems allow people and businesses to operate more efficiently, connect to markets and access opportunities.
Each dollar invested generates outsized economic impact and expands access to opportunity, especially in communities with limited connectivity to economic hubs. We believe AI will quickly become part of the world’s critical infrastructure, driving innovation that itself accelerates economic growth.
Infrastructure and the need for skilled trades
Infrastructure relies on electricians, plumbers, HVAC technicians, welders, carpenters and other trades to design, build, operate and maintain physical assets. The US Labor Department projects that employment in infrastructure-related skilled trades will grow by more than 5% between 2024 and 2034, considerably faster than the 3% national average, translating to hundreds of thousands of net new jobs in these trades.2 Similar dynamics can be seen in the UK and Europe, where demand is being driven by the energy transition and higher defense spending.
Demographics add urgency: nearly one-fifth of the US construction workforce is over 55,3 and 70% of supervisors in the electrical industry are baby boomers nearing retirement.4 Multi-year apprenticeships and licensing requirements further constrain a rapid increase in supply.
This underscores the importance of workforce development as a critical enabler of the next phase of global growth.
Skilled trades can put people on solid employment and financial footing
Skilled trades can provide a durable pathway to stable employment and financial security. Infrastructure-related trades often pay above-average wages in the US and in many developed economies.5
Most trades do not require a four-year college degree, relying instead on apprenticeships that allow workers to earn while they learn, lowering upfront costs and student debt. Structured training, mentorship and certification pathways support career progression. And hands-on skills are difficult to offshore or automate, offering resilience in an increasingly AI-driven economy.
How companies and governments can support skilled trades
Companies and governments need to collaborate to expand the skilled trades workforce needed for the global infrastructure buildout. They can strengthen the pipeline by expanding apprenticeships; collaborating with schools to promote vocational training; broadening recruitment; and tailoring training to match local businesses’ needs.
This coordination will be essential to ensure that training addresses the fast-changing needs of the labor market and supports the global infrastructure buildout.
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