The State of Ohio announced that it will launch its third round of the Incumbent Workforce Training Voucher Program. As in previous years, the state has upped the ante.
This time around businesses will have a chance to claim a piece of $29.4 million, which will allow Ohio’s employers to enhance the skills of their workforce. 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. We expect all of the training dollars to be claimed within hours of the application going live at 10 a.m. 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 percent of eligible training costs – which could mean the business could be reimbursed up to $4,000 per employee. Training performed between Aug. 1, 2014, and Dec. 31, 2015, qualifies for the third round of the Incumbent Workforce Training Voucher Program – meaning that employers have the option to apply vouchers to training that has already taken place.
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. Pre-application allows employers to enter as much information and specific details as possible. Then, the minute the application goes live; all you need to do is log on to your account and submit it. Because 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
- Bio Health
- 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)
The Importance Of Pre-Application:
If your business wants to have a chance at claiming any of these dollars, it is imperative that you complete the pre-application. Your objective should be to simply log on to the page on Sept. 30 to formally submit your application. It is so important to carefully and completely fill out the pre-application form with as many specific details about the proposed training as possible. If you will apply, or think you may qualify and would like to apply, do your homework now.
If you would like help determining if your business is eligible for the program or if you want more information, email Rea & Associates.
Author: Joe Popp (Dublin office)