Caterpillar Donates $500,000 to Address Equipment Industry Skills Gap

Caterpillar Inc. (NYSE: CAT) has pledged $500,000 to the Associated Equipment Distributors Foundation (AEDF) in support of its Vision 2025 Campaign, which aims to tackle the technician shortage in the equipment distribution industry.

AEDF's Vision 2025 Campaign seeks to close the skills gap by enhancing technical programs in underserved U.S. high schools and technical schools. A recent AEDF assessment indicates a need for 73,500 heavy equipment technicians in North America over the next five years.

“Caterpillar understands the importance of closing the skills gap in today's labor market and is focused on helping build solutions,” said Asha Varghese, Caterpillar Inc. corporate social responsibility leader. “We believe in supporting AEDF in its Vision 2025 Campaign to make a difference in addressing the critical skills gap and supporting solutions for greater workforce readiness.”

The Vision 2025 Campaign has positively impacted thousands of students in the U.S. and Canada, aiming to recognize 200 high school programs and accredit 120 college programs by 2027. Expected outcomes include 10,000 new skilled technicians, 5,000 AEDF certified technicians, and 500 AEDF certified managers.

“The AED Foundation is grateful for Caterpillar’s leadership and investment in our Vision 2025 campaign,” said AED Foundation President Emeritus Bob Henderson. “Caterpillar’s support, in conjunction with nearly 75 other investors, brings our Vision 2025 campaign to over $7 million. These investments provide the Foundation the sustainability needed to continue to be the heavy equipment industry’s leader in workforce development.”