Recently, Ford brought together more than 300 national leaders to talk about the workforce. The group comprised industry and government officials from around the world. At a summit held in September, they examined the challenges facing the "Essential Economy," which encompasses key sectors such as construction, energy, manufacturing, and transportation.
About Ford Pro Accelerate
The global leaders met in Detroit, Michigan, to discuss the obstacles confronting the "Essential Economy" and potential ways forward. Many participants noted that this sector faces several barriers to productivity — from complex regulations and worker shortages to inadequate innovation. In recent years, output in these essential industries has slipped while the "knowledge economy," which covers tech and software development, has continued to grow more efficiently.
To address these issues, Ford unveiled a series of initiatives. First, the company will invest more than $5 million to support workforce programs through 2025 and 2026, an effort Ford says will reach over 100,000 educators and students. Ford will also launch a new K-12 program called "Ford Future Builders Labs." Working with SkillsUSA, Ford plans to expand its advanced manufacturing programs, which are already active in the U.S.
In addition to building education programs, Ford intends to provide scholarships to help students pursuing careers in the "Essential Economy." In partnership with the TechForce Foundation, the automaker will expand its Auto Tech Scholarship to provide financial support to students pursuing careers in automotive technology. Ford will also introduce the "Ford Philanthropy Advanced Manufacturing & Trades Scholarship," which helps cover the costs of tools, training, and education for students entering skilled trades.
As Ford's president and CEO, Jim Farley notes, the summit's mission was to fix a growing productivity divide between the knowledge economy and "Essential Economy." Farley said businesses, the tech sector, and governments must now confront underinvestment and bureaucratic hurdles that have slowed progress in these industries. Other leaders agreed, emphasizing that skilled-trade roles are often undervalued despite being crucial, and that more than one million skilled-trade positions remain unfilled in the U.S. That figure could climb without meaningful steps to strengthen the "Essential Economy."
To learn more about Ford's work to mitigate problems with the "Essential Economy," contact Frontier Ford today.
