Snap-on

The U.S. economy faces a massive shortage of skilled technical talent across 10 critical sectors, draining an estimated $7.42 billion in wage-based economic output annually. While employers like Ford and Carrier have begun investing in workforce training, the availability of technicians—who perform roles from HVAC to aviation mechanics—is not currently reflected accurately in standard labor statistics.

Snap-on, a Wisconsin company making tools for professional mechanics over a century, is experiencing strong business growth. The head of the Chicago Federal Reserve Bank recently conducted a fact-finding visit to examine its success.