BlackRock Commits CAD$15 Million to Support Skilled Trades Workers

BlackRock, a global investment management firm, has committed CAD$15 million over three years to support the next generation of Canada's skilled trades workers. This initiative, named BlackRock Future Builders, aims to connect more Canadians to in-demand careers and help workers build long-term financial security.

The first phase of the commitment will focus on supporting the Iron Workers District Council of Western Canada, a regional non-profit organization. The CAD$15 million will be used to support the Iron Workers International Canadian Office’s direct entry pre-apprenticeship training program, expand its advanced welding training and certification program, and help establish national training capacity in mass timber. This initial grant is expected to support nearly 3,000 participants across Ontario, Alberta, Quebec, and Atlantic Canada.

According to the Government of Canada, around 100,000 new skilled trades workers will be needed over the next five years to support the development of key infrastructure projects in the country. BlackRock's commitment comes at a time when Canada is already facing significant shortages in the skilled trades. The company sees this as an opportunity to help more Canadians build meaningful careers and share in the economic growth taking place across the country.

Larry Fink, Chairman and CEO of BlackRock, stated, "Canada has an enormous opportunity to invest, build, and grow in the years ahead. Through BlackRock Future Builders, we're investing in the skilled tradespeople who will help make that growth possible. Good careers are the foundation of economic opportunity and long-term financial security. By investing in people, we can strengthen communities and help more Canadians grow with their country."

Katherine Tweedie, Country Head of Canada for BlackRock, added, "BlackRock has been proud to serve Canada for more than 30 years, and today we're proud to support the people who will help build its future. By expanding pathways into the skilled trades, we can empower more Canadians to build rewarding careers and lasting financial security that can help them support their families, save for the future, and retire with confidence."

The initiative is part of The BlackRock Foundation's mission to expand economic opportunity by powering the next generation of skilled trades workers and helping more and more people experience financial well-being. Over the next three years, additional organizations will be identified and selected to receive the remaining philanthropic commitment, guided by local community partners.

BlackRock's commitment to the skilled trades is part of its broader mission to help more and more people experience financial well-being. The company manages over CAD$500 billion in assets on behalf of its Canadian clients and works alongside more than 220 pension plans to help support retirement outcomes for over 25 million Canadians.