Caterpillar Building the Future Workforce Initiative

The Situation

The manufacturing sector is undergoing a profound transformation as new technologies are reshaping existing roles and creating new jobs — and the stakes are high.

In the United States, the Manufacturing Institute estimates that more than 2 million manufacturing jobs could go unfilled by 2030, resulting in a potential economic loss of $1 trillion alone that year. Globally, the emerging manufacturing skills gap is expected to cost over $8.5 trillion a year by 2030. This talent crisis threatens economic growth and opportunity worldwide and must be addressed with urgency.

Yet structural barriers to high-quality, affordable training persist. Training and education programs frequently lag employer needs, leaving graduates underprepared for the real-world demands of modern manufacturing. Financing models to support training, reskilling, apprenticeships, and workforce development remain fragmented, underutilized, or inaccessible, especially in underserved communities. Even when “best practice” models emerge, they often spread slowly, leaving many students and workers without the preparation the industry needs.

The Caterpillar Building the Future Workforce Initiative is our response to these challenges, ensuring humans and technology rise together.