Demand for electricians, HVAC technicians, plumbers, and ironworkers is rising faster than supply, while many workers in those fields are nearing retirement. It’s also a problem top of mind for BlackRock, the world’s largest asset manager.
On Wednesday, the firm announced it would invest $100 million in skilled trade training programs, deploying funds through nonprofits and workforce development partners across multiple states. The initiative aims to reach 50,000 workers over the next five years.
“Throughout our history, tradespeople have built our country,” BlackRock CEO Larry Fink said in conjunction with the announcement. “America needs an estimated $10 trillion in infrastructure investment by 2033 to modernize aging systems and build new energy, digital, and AI infrastructure. Capital alone is not enough—people are central to building our nation’s future.”
For BlackRock, the buildout of AI is more than just a workforce issue—it’s closely tied to the firm’s investment strategy. The company is among the biggest investors backing Meta’s massive Hyperion data center, which is expected to sprawl to four times the size of Manhattan’s Central Park. In October, it was reported that BlackRock purchased more than $3 billion in bonds tied to financing the project.
