Ford President and CEO Jim Farley, in collaboration with the Aspen Institute, is spearheading a national dialogue on revitalizing productivity in the Essential Economy — a sector encompassing 95 million workers and 3 million businesses in construction, manufacturing, energy, logistics, and service industries. Despite its foundational role in building and maintaining the nation’s infrastructure, this segment faces mounting challenges, including labor shortages and declining output. Research from the Aspen Economic Strategy Group reveals a stark contrast: while the information sector saw annual productivity growth of 5.3 percent between 2015 and 2024, construction lagged at –0.1 percent, manufacturing at –0.7 percent, and transportation at –1.8 percent. If productivity in these essential fields had matched earlier growth trends, U.S. GDP could be approximately 10 percent higher today. Farley is convening industry, government, and civic leaders at Ford Pro Accelerate in Detroit on September 30, hosted at the renovated Michigan Central Station, to explore innovative solutions. He emphasized the need to mobilize innovators to address long-overlooked inefficiencies. Dan Porterfield, president and CEO of the Aspen Institute, affirmed the partnership’s goal of fostering cross-sector collaboration to build a more resilient and inclusive economic framework. A key obstacle identified is not only technological but regulatory — complex permitting processes can delay critical infrastructure projects like energy transmission lines by over a decade, while rising costs further hinder development. Given that over 40 percent of U.S. fleet vehicles across all segments are Ford models, the company’s Ford Pro division plays a central role in supporting these industries through integrated vehicle, software, and service platforms designed to enhance operational efficiency. The upcoming working session aims to unite stakeholders in identifying actionable strategies to overcome shared productivity barriers and strengthen America’s economic backbone.
— news from Ford From the Road
— News Original —
A New Agenda to Power America’s Essential Economy
The Essential Economy is made up of 95 million workers across 3 million businesses in construction, manufacturing, service, energy, and logistics, and it is crucial for building, moving and maintaining our country. However, this sector faces a critical challenge: significant labor shortages and declining productivity. This threatens our economic resilience and growth.
Building on the conversation he started with Walter Isaacson at the Aspen Ideas Festival, Ford President and CEO Jim Farley is convening a group of leaders to discuss productivity solutions at Ford Pro Accelerate in Detroit on September 30 at the newly restored Michigan Central Station.
“We will need to summon all the best ideas and to convene the disrupters and innovators – and set them to work on solving problems too often overlooked but that persist right under our noses,” said Jim Farley. “Doing so isn’t just a smart investment for America’s future, it’s absolutely essential.”
Aspen Economic Strategy Group research underscores the urgency:
A Deepening Productivity Divide: From 2015 to 2024, productivity in the information sector grew by 5.3 percent annually. In contrast, essential industries saw different results, with construction productivity averaging -0.1 percent, manufacturing -0.7 percent, and transportation -1.8 percent.
A Pathway to Greater Prosperity: If productivity in the Essential Economy had kept pace with its growth over 20 years prior, US GDP would be estimated 10 percent higher today.
A Growing Workforce Gap: Many of our nation ‘s most foundational industries are being hampered by a generational decline in available skilled labor, creating downstream challenges for everyone.
Productivity Lost to Process: This decline is not just about technology, but also policy. Complex regulations mean it can take a decade or more to build a new energy transmission line, while skyrocketing costs hamper our ability to build critical infrastructure.
“The Aspen Institute is proud to partner with Ford on Accelerate. This important series of conversations on the Essential Economy will convene leaders from business, government, and civil society, responding to the call to action issued by Jim Farley at the Aspen Ideas Festival this summer,” said Dan Porterfield, president and CEO of the Aspen Institute. “Through our programming, we share Ford’s commitment to bringing people together across generations, geographies, and viewpoints to explore what it takes to build an economy that embraces innovation and where essential industries can thrive.”
A common thread among many of these industries is their dependence on vehicles to do the critical jobs we all rely on. With over 40% share across all fleet – size segments in the U.S., Ford owns work – and Ford Pro customers are the beating heart of the Essential Economy. Ford Pro’s mission is to accelerate their productivity with an integrated platform of vehicles, software, and services, helping them navigate the diverse and demanding challenges they face today.
The working session will bring a powerful coalition of leaders from the heart of these essential industries to identify solutions to shared productivity barriers.