H.R. 5296: Building U.S. Infrastructure by Leveraging Demands for Skills

The bill, titled the Building U.S. Infrastructure by Leveraging Demands for Skills Act (BUILDS Act), aims to encourage growth and competitiveness in targeted infrastructure industries by promoting partnerships among businesses, educational institutions, and workforce development entities. The focus is on improving worker training, retention, and career advancement within industries such as energy, construction, information technology, utilities, and transportation.

Key Provisions

• Grants for Partnerships: The bill authorizes the Secretary of Labor to award competitive grants to eligible partnerships. These grants will support planning and implementation efforts designed to align worker training with the needs of the targeted infrastructure industries.
• Types of Grants: There are two types of grants: implementation grants for new partnerships, and renewal grants for partnerships that have previously received funding. Implementation grants can be up to $2.5 million, while renewal grants can be up to $1.5 million.
• Geographic Diversity: Grant awards will consider geographic diversity to ensure that funding is spread across different regions.
• Application Process: Eligible partnerships must submit detailed applications outlining their objectives, the industries they serve, the barriers faced by targeted workers, and the strategies to support workforce development.
• Strategic Objectives: Grant-funded activities are designed to achieve strategic objectives, such as recruiting industry stakeholders, identifying training needs, and providing support services for individuals facing barriers to employment.
• Work-Based Learning Programs: The bill encourages the establishment of work-based learning programs, including registered apprenticeships, which provide workers with practical job experience complemented by classroom instruction.
• Support Services: Grants will also fund support services for individuals participating in work-based learning, such as job placement assistance and ongoing support during employment.
• Monitoring and Reporting: Recipients of grants will need to submit annual reports to evaluate their progress towards achieving the strategic objectives set forth in their applications.

Funding Authorization

The bill authorizes appropriations of $500 million per fiscal year for a total of five years to support these initiatives.

Relevant Companies

• CSX Corporation (CSX): As a major player in the transportation sector, CSX may benefit from workforce development initiatives aimed at improving skills and training for transportation-related jobs.
• Fluor Corporation (FLR): This construction and engineering firm could see increased opportunities for skilled workers trained under the bill's initiatives.
• NextEra Energy, Inc. (NEE): As a leading energy provider, NextEra may be impacted through improved workforce training in renewable energy sectors.