Prologis Expands Logistics Training Program in Six Major US Cities
The REIT is preparing its labor workforce for continued industry growth nationwide.
With labor shortages popping up in so many industries, Prologis, a global provider of logistics real estate, is taking steps now to satisfy the forecasted booming logistics real estate market.
It will expand its Community Workforce Initiative (CWI) training program in six major markets in the US, creating more educational opportunities for people seeking careers in logistics.
In partnership with JFF, a national nonprofit driving transformation in the American workforce and educational systems, Prologis CWI will train 10,000 people for jobs in transportation, distribution and logistics over the next two years in Dallas; Tracy, Calif.; Long Beach; Chicago; Las Vegas; and Atlanta.
It also plans to establish new programs in nine additional key logistics markets in the U.S. by the end of 2021. This commitment is part of Prologis CWI’s goal to train 25,000 individuals by 2025. To date, the program has served 7,000 people.
Logistics Industry Forecast to Boom
According to the U.S. Bureau of Labor Statistics, employment in the distribution and logistics sectors will increase by 29 percent from 2019 (prior to the pandemic) to 1.62 million workers in 2022. Broader transportation, warehousing and related fields are projected to add close to 735,000 jobs by 2031.
Prologis fully expects logistics warehousing to be big business in the years ahead.
In a recent report, it wrote, “Limited availability, rising replacement costs, and extreme competition should drive up rents broadly through the remainder of the year. Prologis Research forecasts that full-year net effective market rent growth will set a record, exceeding 10 percent.”
Skilled Labor in High Demand
“Our customers’ needs for skilled and ready labor are greater than ever,” said Hamid R. Moghadam, chairman and CEO, Prologis, in prepared remarks. “Helping people acquire in-demand skills that can translate to fulfilling careers in logistics is a benefit to workers, employers and communities. Beyond creating new career opportunities, the program will strengthen the communities where we operate and contribute to a resilient and healthy logistics industry for years to come.”