Last year, when Wells Fargo offered to support mikeroweWORKS in a meaningful way, I realized that something fundamental had changed. This was the first time a big company that didn’t directly employ skilled workers had offered to help us train the next generation of skilled workers. When I publicly thanked Wells Fargo for their generous support, I also expressed my hope that other banks and financial institutions might follow their example. Well, last week in DC, at the largest Infrastructure Summit ever convened, BlackRock pledged to invest $100 million to help close America’s widening skills gap – and mikeroweWORKS received a modest chunk of that investment.
It was a pretty big deal. I was invited along with dozens of CEOs, lots of press, several union leaders, God knows how many elected officials, three current cabinet members, and hundreds of other interested parties – all focused on the growing consensus that something must be done to reinvigorate the skilled trades on a national level. I was flattered to share my thoughts on stage with the CEO of Blackrock and gratified to see so much attention being focused on the same issue that led me to launch mikeroweWORKS eighteen years ago. This, from BlackRock’s press release.
“In the first phase, BlackRock will deploy $100 million in grant capital to nonprofit and workforce development partners across multiple states over the next five years, reaching 50,000 workers. BlackRock will work alongside federal, state, and local governments, labor organizations, companies, and nonprofits to strengthen effective skilled trades programs and deliver these opportunities at scale. The initiative will take a comprehensive approach — supporting pre-apprenticeship access, training completion and licensure — while embedding financial education and digital savings tools to help workers build durable economic security from their first paycheck through retirement. BlackRock will announce additional phases of Future Builders over the next 12 months.” https://bit.ly/4d4Cr5l
This is the way forward. More companies offering more support to more people and programs that are already working to close America’s skills gap. BlackRock predicts America’s new infrastructure – one based on AI, energy, connectivity, and yes, the construction of many data centers, will cost no less than $10 trillion to build – assuming we have the skilled labor to build it. At the moment, we do not. Not even close. The current shortage of electricians, plumbers, welders, and linemen, is already acute, and it’s about to become critical. Soon, it will become a matter of national security.
I understand there’s a lot of debate about whether or not we should even be going down this road, and a lot of fear and skepticism in the general public about pushing forward. Believe me, I get it. But if this summit was any indication, the AI genie is NOT going back into its bottle. No way. We’re in a race with China, like it or not, and the outcome of that race will impact every company, every corporation, and every citizen who relies on the American grid.
That’s why I’m glad to see companies like Wells Fargo and BlackRock crack open their checkbooks. Any big corporation that’s truly concerned about the widening skills gap should be supporting the people and programs that are already training and recruiting the next generation of skilled workers. Hundreds of excellent initiatives are underway all over the country, and many of them will become much more effective as a result of this investment. Good for BlackRock. Hopefully, other big companies will follow suit.
As for mikeroweWORKS, we’ll do what we always do with the money we receive from our supporters – we’ll expand our scholarship fund, but we’ll also allocate a portion to the severely undervalued pursuit of more and better storytelling in all media. At this point, it’s a very simple formula – the more money I spend telling the true stories of our scholarship recipients – real people who have prospered as the result of learning a skill that’s in demand – the more people enter the skilled trades. So far, we’ve assisted 3,500 people, and this year, we’re going to help a whole lot more.
PS. We’ve expanded our enrollment period for the next round of scholarships. Currently, we have $10 million set aside to help train the next generation of skilled workers. If you or someone you know is ready to enter the trades, the money is waiting. Go get some! Apply at mikeroweWORKS.org.
The Washington Reporter: EXCLUSIVE: Cabinet officials, GOP Senators chart path to AI, energy, and workforce dominance at BlackRock summit