Across the United States, roads, bridges, water systems, and energy infrastructure are showing their age. Many of these systems were built decades ago and now face increasing strain from population growth, technological change, and rising energy demand. At the same time, the economy is rapidly evolving. Expanding data centers, new manufacturing investments, and the electrification of transportation are all increasing demand for reliable power and modern infrastructure.
This challenge was front and center at BlackRock’s Infrastructure Summit, where leaders from business, government, and labor gathered to discuss one of the country’s most pressing economic priorities, including rebuilding and modernizing critical infrastructure while preparing the workforce needed to deliver it. Throughout the day, discussions repeatedly emphasized that strong infrastructure depends not only on investment, but also on a skilled workforce capable of building and maintaining it.
Senator Steve Daines of Montana highlighted the scale of the coming demand, noting that the United States will need “50 to 80% more energy in the next five years.” Meeting that demand, he argued, will require major investment in infrastructure as well as a renewed focus on workforce development, particularly in the skilled trades that form the backbone of construction, energy, and transportation projects. Mike Rowe, founder of mikeroweWORKS, pointed to the growing shortage of skilled trade workers:
“The maritime industrial base needs 400,000 people to build our subs—welders, electricians and CNC operators—400,000. Where are they? We looked everywhere. I said, yeah, they’re in 8th grade.”
This workforce gap presents both a challenge and an opportunity. Expanding apprenticeships, career and technical education programs, and workforce training initiatives can help create pathways to stable, well-paying careers with strong promises for retirement. For many Americans, these jobs provide the opportunity to earn strong wages without the burden of a four-year college degree, while also often coming with the promise of a secure pension in their golden years. Against that backdrop, BlackRock’s announcement of a $100 million donation to fund and expand skilled trade training programs was particularly well received by the audience and generated optimism about the country’s economic future.
The initiative reinforced another key theme of the day: the importance of public–private partnerships in meeting the nation’s infrastructure needs. As Senator Dave McCormick explained, major infrastructure investments create ripple effects across local economies, supporting restaurants, truck drivers, and hotels, but realizing that growth requires accelerating the nation’s ability to train workers:
“And then there’s all the economic ecosystem around that, the restaurants, the truck drivers, the hotels to support this source of growth, but it’s going to require, I think, a different way of accelerating our capacity to train a workforce. And so that’s the examples in Pennsylvania, a great private, public partnership, natural gas industry that have built programs where people can do on the job training, that they can get their certification and go out into the workforce without debt and guarantee jobs.”
The scale of investment required to upgrade transportation networks, expand energy systems, and strengthen digital infrastructure is immense. Government resources alone are unlikely to meet this demand at the required speed. Public–private partnerships can help bridge that gap by bringing together government support and private-sector capital, technical expertise, and innovation. When structured properly, these partnerships can accelerate construction timelines, reduce costs, and deliver long-term value to communities while maintaining public oversight.
For organizations like 60 Plus Association, these conversations are especially relevant. Modern, reliable infrastructure underpins economic growth that helps safeguard Social Security and Medicare for current and future retirees. At the same time, expanding access to skilled trade careers – many of which offer stable wages and strong retirement benefits – creates pathways to long-term financial security for American workers, strengthening the tax base that supports critical senior programs.
It was exciting to see such strong excitement from everyone in the room on moving forward the country. By committing to these priorities today, policymakers can help move the country forward and ensure the next generation inherits an economy that is stronger, more resilient, and better prepared for the challenges ahead.
