More than 80,000 Ohio employees have already been trained through the Ohio Incumbent Workforce Training Voucher Program and now the state is making a third round of funding available to businesses. This program will make $29.4 million available in Fiscal Year 2015 for employers to enhance the skills of their employees.
The Ohio Development Services Agency will reimburse the employer for up to 50 percent of the eligible training costs, up to $4,000 per employee, after 1) the employer pays the full cost of the training, and 2) the employee successfully completes the training. The maximum amount an employer may qualify for in a fiscal year is $250,000. The company must be in operation for at least 12 months in Ohio to participate.
A pre-application is now available beginning September 15, 2014 for businesses who want financial help to train their current workforce. Applications for the grant program will be accepted for review on September 30, 2014 beginning at 10:00 a.m.
An eligible employer is one who operates as a for-profit entity in a state-designated targeted industry, with a facility located in Ohio that has been in continuous operation for the 12 months immediately prior to the application submittal. Targeted industries are: Advanced Manufacturing, Aerospace and Aviation, Automotive, BioHealth, Corporate Headquarters, Energy, Financial Services, Food Processing, Information Technology and Services, Polymers and Chemicals, Back Office, Logistics, or Research and Development. The company’s NAICS code (http://www.naics.com/search.htm) will determine eligibility as to the targeted industry.
Please note the advantageous changes to this year’s application:
- Eligible NAICS codes are being provided for potential applicants to verify eligibility before applying. A listing of eligible NAICS codes is available at http://development.ohio.gov/bs/bs_wtvp.htm
- Names of individuals being trained along with the last four digits of their SSN, date of birth, and verification of wages are no longer being collected in the application. Rather, they are collected at the time of the reimbursement request. This will make the application process less tedious and reduce the number of amendments being requested.
- The Window of training has been extended from 11 months to 17 months (August 1, 2014 – December 31, 2015).
Vouchers will be awarded in the form of a Voucher Agreement between the Ohio Development Services Agency and the employer. The program will be administered on a first-come, first-served basis until all of the available funds are committed. After that time, applications will still be accepted and retained in a “queue” in the event that additional program funds become available.
If you have any questions please contact Holbrook & Manter. Our professionals are ready to assist you with any questions you may have.