Founded in 1988, the global asset management firm BlackRock set out to build a better way to invest—by putting clients first and helping more people benefit from investing so they can live better. Over time, that founding missing expanded into The BlackRock Foundation—the firm’s philanthropic arm. This year, it went one step further, announcing BlackRock Future Builders TM, a $100-million philanthropic initiative funded by The BlackRock Foundation, which aims to provide training and support to 50,000 American workers pursuing careers in the skilled trades over five years.
The more than 200,000 service members who transition to civilian life each year, according to the U.S. Department of Labor, don’t do so on their own. That support, whether it comes in the form of friends, family or organizations like BlackRock, is crucial to veteran wellbeing and a smooth transition. What is often seen to help with a smooth transition, as well, is pursuing a career in the skilled trades—both the hard and soft skills learned in the military are often readily transferable to something like construction. Currently, America’s construction industry is witnessing both an infrastructure boom—which is projected to create hundreds of thousands of new roles for electricians, HVAC technicians, plumbers and other skilled trades workers over the next decade—and a workforce crisis—which will only be exacerbated by the infrastructure boom. This gap lends a clear path to military veterans interested in pursuing a career in the skilled trades, as long as they have the right support to guide them down the path.
“From serving our country to building its future, veterans bring skills, leadership and experience that can strengthen America’s workforce,” says John Kelly, global head of corporate affairs at BlackRock. “As demand for skilled trades workers grows, we’re proud to support organizations helping veterans translate their experience into civilian careers and greater financial security for their families.”
In the first of two funding rounds, The foundation awarded more than $13 million to 15 organizations. (The BlackRock Foundation opened a national request for proposals through BlackRock Future Builders TM, inviting U.S.-based nonprofits recognized as 501(c)(3) public charities or their equivalent to apply for funding for specific projects that address local barriers to skilled trades training and infrastructure-related careers. More information about the RFP is available in the Future Builders RFP announcement and the eligibility guide.) The grants are expected to help more than 5,400 people across 26 states prepare for careers in the skilled trades.
This Veterans Day, The BlackRock Foundation is highlighting two of those grantees:
Helmets to Hardhats received approximately $1 million to support three dedicated case managers connecting transitioning service members and veterans with registered apprenticeships and construction careers in 16 states.
National Veterans Transition Services Inc. received approximately $1 million to launch Operation Future Builders in San Diego, helping participants translate military experience into trades-readiness profiles and connect with apprenticeships, training programs and employers.
CE sat down with BlackRock to discuss these funding efforts further:
How do veterans get paired with a program, case manager, apprenticeship, etc.?
This work is just getting underway, but here is what we can share right now.
Veterans often bring technical skills and leadership experience that translate well to the trades but need local connections and support to navigate civilian apprenticeships and jobs. Military candidates may struggle to translate their experience into civilian credentials, identify the right trade or navigate local apprenticeship applications.
The grant will help Helmets to Hardhats connect more transitioning service members, veterans, National Guard members and Reservists with registered apprenticeships and employment in the construction trades. Funding will support three dedicated case managers serving 16 states across the Midwest and Ohio Valley, providing individualized career guidance and connecting participants with opportunities through a network of more than 500 affiliated training centers in 15 union building trades. The expansion will help meet the growing demand for skilled trades workers driven by infrastructure investment while supporting participants as they translate their military experience into civilian careers.
How does the data center boom (and the consequential increase of job opportunities and labor demand for skilled trades) play into BlackRock’s efforts?
The United States is making enormous investments in infrastructure, energy, advanced manufacturing, transportation and technology, but those investments only become real if we have people prepared to build and maintain them.
The BlackRock Foundation launched Future Builders to help fill this gap. Through BlackRock Future Builders, The BlackRock Foundation is funding organizations that expand training capacity and connect more workers with registered apprenticeships. These programs help employers meet growing demand while giving workers a chance to earn while they learn and build careers with family-sustaining wages and benefits.
SEE ALSO: TRUE GRIT: A HISTORY OF DELMARVA VETERAN BUILDERS
