BlackRock (BLK) said Wednesday it has launched a $100 million initiative, called Future Builders, to support training and career pathways for US skilled trades workers.

In the first phase, the initiative, focusing on skilled trades including electricians, HVAC technicians, plumbers, and ironworkers, will deploy $100 million in grants over five years to nonprofit and workforce development partners across multiple states, reaching 50,000 workers, the company said.