The Texas Association of Business (TAB) praised BlackRock for launching a $30 million workforce investment initiative aimed at expanding skilled trades training and strengthening Texas's electrical workforce pipeline.
The investment, made through BlackRock's "Future Builders" initiative, is expected to help train more than 12,000 Texans for electrical careers over the next three years.
State leaders and business executives gathered at Texas State Technical College in Waco for the announcement, including Gov. Greg Abbott, Texas Workforce Commission Chairman Joe Esparza, and BlackRock CEO Larry Fink.
TAB Interim President and CEO Megan Mauro said Texas's continued economic growth depends on expanding access to skilled labor and aligning training programs with employer demand.
"Texas' growth depends on our ability to build and sustain a skilled workforce at scale," said Mauro. "BlackRock's investment, in partnership with TSTC, strengthens the pipeline in a way that is measurable and employer aligned."
During the event, TAB also highlighted the importance of modernizing state licensing requirements to accelerate workforce entry into high-demand trades. The organization announced support for a proposed rule by the Texas Department of Licensing and Regulation that would allow intensive classroom instruction to count toward current on-the-job training requirements for journeyman electricians.
Mauro said aligning workforce training investments with updated licensing pathways could reduce labor shortages, speed up infrastructure projects, and stabilize costs across industries, including construction, energy, and digital infrastructure.
"Workforce is core economic infrastructure," Mauro added. "BlackRock's leadership through the Future Builders initiative aligns with Texas's forward-thinking approach toward ensuring our ever-growing business community continues to have access to the best talent in the nation."
Supporters say BlackRock's investment will help Texas meet growing demand for skilled workers as the state's energy, construction, and technology sectors continue expanding.
