The first national Request for Proposals (RFP) from BlackRock Future Builders has closed after drawing more than 1,000 applications from organizations across the country, highlighting the growing demand for resources that help connect more Americans to skilled trades careers.
Over the six-week application period from June 1 through July 10, organizations across all 50 states, Washington D.C., and U.S. territories submitted applications, collectively seeking over $900 million in funding. The volume and reach of the applications – spanning occupations including HVAC technicians, electricians, plumbers, welders, pipefitters, ironworkers and more – underscore both the scale of need and the opportunity to expand pathways into skilled trades careers.
The RFP is part of BlackRock Future Builders, a $100 million philanthropic initiative funded by The BlackRock Foundation to strengthen America's skilled trades workforce and expand economic opportunity. The Foundation has committed $25 million over two funding cycles through the RFP to support nonprofit organizations that are helping workers access high-quality skilled trades training and career pathways. This is the first cycle.
"The response to this RFP speaks to the incredible work happening in communities across the country," said John Kelly, Global Head of Corporate Affairs at BlackRock and Executive Lead for BlackRock Future Builders. "We heard from organizations in every state that are helping people gain skills, build careers, and create brighter financial futures. The level of interest underscores a clear challenge: demand for skilled trades workers is growing faster than the training capacity available to prepare them. That's the gap BlackRock Future Builders is working to help close."
The U.S. faces an unprecedented opportunity to build the next generation of critical infrastructure, with up to $2 trillion needed to modernize aging assets1. Delivering on that opportunity requires a workforce with the skills to design, construct, operate, and maintain the infrastructure underpinning America’s economic growth. However, even as demand for workers accelerates, an estimated 2.1 million skilled trades positions could go unfilled by 20302.
The scale of response to the RFP also highlights the need for action across sectors. To help accelerate progress, BlackRock recently joined Carhartt, Ford, and Google to launch the Alliance for America's Skilled Trades, which aims to expand access to training and strengthen the pipeline of skilled workers nationwide.
The RFP review process, which is being administered by Jobs for the Future, is now underway.
“The applications we received far exceeded our expectations and reflect the unprecedented demand for additional investment in skilled trades training,” said Maria Flynn, President and CEO of Jobs for the Future. “They represent an impressive range of organizations, communities, and approaches working to expand access to training, strengthen the skilled trades workforce, and connect more people to quality jobs that are vital to our economy and our country’s future.”
The BlackRock Foundation expects to announce the first round of grant recipients in October.
1 American Society of Civil Engineers (ASCE), 2021 Report Card For America’s Infrastructure, (2021), p. 5
2 Steele, Kimberly. "Critical skilled trades shortage threatens $1T in economic losses." JLL, https://www.jll.com/en-us/newsroom/critical-skilled-trades-shortage-threatens-economic-losses
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