Sunday, May 30, 2021

Workwise Gets $300,000,000 for Skilled Labor Training Including Modular Construction

Workrise, headquartered in Austin, Texas, started up its business as Rigup, a company dedicated to finding workforce management solutions for the skilled trades for the oil and gas industry is about to reach out beyond roots and begin skilled labor training for multiple industries including the modular industry.


New green developments and alternative construction solutions are hitting the market including modular homes and even concrete alternatives to help combat the high demand and lack of workforce and materials. 

However, alternative building materials will still require a skilled workforce to complete construction on or off-site. Hopefully, the efforts of Workrise along with various government-funded programs can help with training and hiring construction workers over the next few years. The company, now valued at an estimated $2.9 billion, currently serves 70 metro areas in the U.S., giving its endeavors a wide reach.

Providing the necessary training to increase the number of eligible and experienced workers in the construction industry would undoubtedly help reduce the workforce gap over the next several years. It should also help improve the economy at large, including benefiting everyday investors. Low supply and high demand equates to higher construction and labor costs, something many development and management companies are battling against in our current market.

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Gary Fleisher is the Managing Director and contributor to the Modcoach Network and its affiliated blogs.

Email at modcoach@gmail.com.

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