Don’t Miss Out on Ohio’s Workforce Training Voucher Program
Sep 26, 2014
The Ohio Workforce Training Voucher Program is now in its third year. This employer-driven program is targeted to provide direct financial assistance to train workers and improve the economic competitiveness of Ohio’s employers. The program is designed to offset a portion of the employer’s costs to upgrade the skills of its incumbent workforce and will provide reimbursement to eligible employers for specific training costs accrued during training.
This time around businesses will have a chance to claim a piece of $29.4 million. That’s the good news. The bad news however, is that you have to be quick if your business has a desire to claim any portion of these funds. Similar to round two of the program, a pre-application process is available. The period to complete this process began Sept. 15, and will continue until the application officially goes live on Sept. 30.
According to the state, the funds are to be made available on a first-come, first-served basis. Employers can apply for a credit that will reimburse them up to 50% of eligible training costs – which could mean the business could be reimbursed up to $4,000 per employee.
In order to qualify, training must have been performed between Aug. 1, 2014, and Dec. 31, 2015. Employers have the option to apply for vouchers for training that has already occurred.
Pre-application allows employers to enter as much information and specific details as possible. When the application goes live, all you need to do is log on to your account and submit it. We expect all funds to be accounted for within the first few hours of the application going live. We urge businesses to take time to complete the pre-application process as soon as possible.
What Is Considered Eligible Training? • Classes at an accredited education institution • Training that leads to an industry-recognized certificate • Training provided in conjunction with the purchase of a new piece of equipment • Upgrading computer skills (e.g. Excel, Access) • Training for the ICD-10-CM/PCS diagnostics classification system • Training from national, regional or state trade associations that offers certified training • Training for improved process efficiency (e.g. ISO-9000, Six Sigma, or Lean Manufacturing) • HR Certification – limited to HR staff only
What Companies Can Apply? For-profit entities located in Ohio and that operate in one of the following industries are eligible to apply for the Incumbent Workforce Training Voucher Program:
• Advanced Manufacturing • Aerospace and Aviation • Automotive • Bio Health • Energy • Financial Services • Food Processing • Information Technology and Services • Polymers and Chemical • Research and Development • Companies with a Corporate Headquarters in Ohio (with limited availability of funds)
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