BlackRock Launches Signature Philanthropic Initiative in Texas with $30M Commitment to Grow Electrical Workforce

The BlackRock Foundation's $100 million Future Builders Initiative Awards First Grants to Texas-Based Organizations

Partnerships with Workforce Leaders and Educational Institutions will Expand Access to Skilled Trades Jobs

BlackRock today announced a $30 million philanthropic investment in Texas through BlackRock Future Builders, a national initiative funded by The BlackRock Foundation to strengthen skilled trades pipelines across the United States. Over three years, funding from the grants will be used to help train more than 12,000 Texans for electrical careers, strengthening the workforce needed to support Texas' rapid growth. The launch will be highlighted on National Skilled Trades Day at an event hosted by Texas State Technical College (TSTC) in Waco.

Texas sits at the center of America's infrastructure and energy buildout, driven by the nation's fastest population growth, rising electricity demand, and the rapid expansion of AI‑enabled industries. Federal data shows Texas accounts for the largest share of U.S. electricity generation and is experiencing the fastest growth in power demand, making it an early indicator of national infrastructure and workforce pressures. Meeting these needs will require thousands of additional licensed electricians in the years ahead. Through Future Builders, BlackRock is supporting proven training pathways and local partners to help expand the state's electrical workforce.

"The scale of growth underway in Texas demands a workforce ready to build it," said Larry Fink, Chairman and CEO of BlackRock. "By working alongside trusted Texas training institutions and workforce leaders, Future Builders is expanding access to skilled trades jobs that are essential to the state's economy—helping more Texans access good-paying careers and build long-term security."

Future Builders will partner with leading union and independent training providers and educational institutions, including the IBEW-NECA electrical training ALLIANCE (etA), Independent Electrical Contractors (IEC) of Dallas, and Texas State Technical College (TSTC). Together, these partners will expand access to training, help more people complete their training programs and get licensed, and put people on the path to long-term careers.

With funding from The BlackRock Foundation, etA will launch The ProTech Skills Institute BlackRock Foundation Electrical College, a first-of-its-kind, statewide pre-apprenticeship program, which will include a 14-day immersive bootcamp to provide thousands of Texans with jobsite readiness preparation and industry-recognized safety credentials. The program will not only help more participants transition into union registered apprenticeship programs, but it will also support contractors to access workers from a statewide talent pool, addressing supply and demand challenges.

"We're thrilled to partner with BlackRock through Future Builders to meet Texas' surging demand for skilled electrical workers, opening doors to long-term, family-sustaining careers in one of the nation's most essential trades," said Todd Stafford, Executive Director at electrical training ALLIANCE.

IEC of Dallas will receive funding from The BlackRock Foundation to expand the independent electrical workforce pipeline in North Texas—one of the country's fastest growing regions for commercial construction. This partnership will introduce a BlackRock SafeSTART pre-apprenticeship program for thousands of local workers, providing 80-hours of safety training and hands-on lab experience as well as a direct on-ramp to IEC's registered apprenticeship program. IEC of Dallas will also use the funding to offer a journeyman exam prep course, helping eligible apprentices unlock higher earning potential and increasing the number of journeymen statewide.

"IEC Dallas is excited to partner with BlackRock through the Future Builders program to strengthen Texas' electrical workforce. The results are showing successful outcomes. These programs are increasing licensed Journeyman electricians while our SafeSTART Pre-Apprenticeship Program is training and equipping individuals with industry recognized safety certifications," said Erin Stewart, Executive Director and CEO of Independent Electrical Contractors of Dallas. "We are delivering job-ready apprentice electricians, resulting in a real impact for contractors and the future of our industry."

The BlackRock Foundation's grant to TSTC will support the establishment, development and implementation of a new Associate of Applied Science in Electrical Technology program, creating a college-based pathway that prepares students to test for their journeyman license. TSTC's new Construction Technologies Center in Waco positions it to expand training capacity beyond traditional apprenticeship routes—and this additional funding will help TSTC students prepare for licensure through advanced simulation labs, expanded instructor capacity, and targeted financial support.

"TSTC is proud to join forces with BlackRock to address the critical skilled trades workforce gap in Texas. This partnership will enable us to expand hands-on training and provide more Texans with the tools and opportunities they need to succeed in high-demand careers," said Mike Reeser, Chancellor & CEO of Texas State Technical College. "Together, we are investing in the future of our students, our communities, and the economic vitality of our state."

In addition to technical training, Future Builders will integrate financial education and digital tools into apprenticeship programs to help workers translate rising earnings into lasting financial stability. Through a grant to Dallas College, a new financial education course tailored specifically to electricians will be developed with input from industry and piloted with apprentices across Texas. This builds on work that BlackRock has done for more than 30 years, helping millions of Texans save and invest for retirement. Launching Future Builders in Texas deepens that commitment by pairing strong career pathways with financial education tools that support economic mobility and long-term financial wellbeing.

"Dallas College and Dallas College Foundation are proud to partner with BlackRock through Future Builders to ensure Texans entering the skilled trades are prepared not only for great careers, but for long‑term financial success," said Dr. Justin Lonon, Chancellor of Dallas College. "By embedding financial education directly into apprenticeship pathways for electricians, we are helping workers turn increased earning power into lasting economic mobility, strengthening families, communities, and the future of Texas' workforce."

About BlackRock

BlackRock's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate.

About The BlackRock Foundation

Guided by BlackRock's purpose to help more and more people experience financial well-being, The BlackRock Foundation funds and partners with organizations that strengthen financial security by helping people earn, save and invest – earlier, more often and for their futures.

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