The AFL-CIO on Wednesday said it will work with pension funds and other investors and businesses to help funnel $10 billion during the next five years into construction work that will create jobs.
The labor federation will promote infrastructure development and pledged at least $20 million to retrofit buildings over the next 12 months, according to a union statement.
“We, at the AFL-CIO, believe that together, with our partners in business and government, we can profitably invest significant resources to make America more competitive and energy efficient,” President Richard Trumka said in the statement released at the Clinton Global Initiative in Chicago.
The AFL-CIO will seek to work with Deutsche Bank, Johnson Controls and financial institutions to provide millions of dollars for retrofitting buildings, and lure investment from entities such as union pension funds, according to AFL-CIO officials. The union also will seek money from Congress.
“The time is now to become intensely focused on the creation of jobs, and America’s building trades unions are ready, willing and able to work with any and all partners to map out a multiyear plan of infrastructure investment,” Mark Ayers, president of the Building and Construction Trades Department, AFL-CIO, which coordinates with national and international unions, said in the statement.
The AFL-CIO said the plan will promote infrastructure investment, make buildings more energy efficient and expand worker training related to construction.