Are You Eligible For The Ohio Incumbent Workforce Training Voucher Program?
The Ohio Incumbent Workforce Training Voucher Program provides needed training dollars to help businesses across the state. This public-private partnership seeks to fill a gap in current workforce development programs in order to improve the competitiveness of Ohio’s employers as a well-trained workforce is essential in the expansion of all Ohio businesses.
Companies must continually keep their workforce current and educated through training and education. The program aims to help Ohio employers retain and grow their workforce and develop a workforce that can meet present and future demands.
This is a first-come, first-served reimbursement program that will run until all of the available funds are exhausted. The program reimburses up to 33 percent of eligible employer’s costs for training employees. The employer’s contribution must come from private sources (no public funds).
Mark the date!
Applicant companies may apply for fiscal year 2019 between 10 a.m. – 5 p.m. on Thursday, October 11.
Changes For 2019
Program updates for this upcoming year include:
- Applicants are eligible for reimbursement up to $2,000 for each eligible incumbent employee per fiscal year (up to $25,000 total).
- Companies that received voucher program assistance in FY’17 (based upon FEIN) that utilized 33 percent or less of their award amount will not be eligible for assistance in FY’19.
- Any company that received voucher program assistance in FY’18 (based upon FEIN) is not eligible for assistance in FY’19.
- FY’19 (Round 7) awards will reimburse training that begins and is completed between Jan. 1, 2019, and Dec. 31, 2019.
Who Is Eligible?
Eligible employers must be for-profit entities is targeted industries with a facility located in Ohio that has been in continuous operation for 12 months prior to the application. These industries, determined by NAICS code, include advanced manufacturing, aerospace and aviation, automotive (technicians and manufacturing), biohealth, corporate headquarters*, energy, financial services, food processing, information technology and services, polymers and chemicals, logistics or research and development.
The incumbent employee cannot be an owner of the company and must be a resident of Ohio and be currently employed directly by an eligible employer. Only one application per company is allowed per program year.
* Eligible training for corporate headquarters is for the corporate headquarters staff only (employees that support the operation by providing IT, HR or accounting services).
What Types Of Training Are Covered?
Training must be required by the company, be technical in nature, help enhance the skills of the workforce and improve a company’s processes and competitiveness. Certain training, such as Microsoft Office and tuition reimbursement, are excluded.
Training can be at the employer’s facility, at a training provider’s facility or other third-party site or online. Included activities include training for:
- Improved process efficiency (e.g., ISO-9000, Six Sigma or Lean Manufacturing)
- National, regional or state trade association training that offers an independently certified training curriculum and testing
- Obtaining or maintaining an industry-recognized certificate/credential
- The purchase of a new equipment
This is a great opportunity to help businesses supplement their training dollars. Don’t waste any time. The professionals at Rea & Associates can help you with the application process as well as organizing the information necessary to complete the registration on October 11. Don’t wait, contact your advisor today.
By Brian Kempf, CPA (Millersburg office)