The Ohio Development Services Agency has announced the Guidelines for the Ohio Incumbent Workforce Training Voucher Program for FY’16.
The Ohio Development Services Agency shares that The Ohio Incumbent Workforce Training Voucher Program is an employer-driven program designed to provide direct financial assistance to train workers and improve the economic competitiveness of Ohio’s employers. The Voucher Program is designed to offset a portion, via reimbursement, of the employer’s costs to upgrade the skills of its incumbent workforce. The Voucher Program will provide reimbursement to eligible employers for specific training costs accrued during the course of training. Eligible employers must demonstrate that by receiving funding assistance through the Voucher Program their business will not only obtain a skilled workforce, but will also improve their company processes and competitiveness.
An eligible employer must operate 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.
Training in the following high-demand fields is eligible: Advanced Manufacturing, Aerospace and Aviation, Automotive, Back Office, BioHealth, Corporate Headquarters, Energy, Financial Services, Food Processing, Information Technology and Services, Logistics, Polymers and Chemicals, and Research and Development. Training opportunities include, but are not limited to, operational skills training, certification processes and equipment training. Training can occur at the employer’s facility, at provider’s training facility or at a third-party site.
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 $100,000. The company must be in operation for at least 12 months in Ohio to participate.
Businesses can begin the online process on September 28, 2015 and will have more than two weeks to gather the necessary information to complete their application. The online applications will be accepted on a first-come, first-served basis and can be submitted beginning at 10:00 a.m. on October 14, 2015.
For more information about the Ohio Incumbent Workforce Training Voucher Program visit http://development.ohio.gov/bs/bs_wtvp.htm.
Contact Holbrook & Manter today for more information regarding this program. We would be happy to assist you.