The state of Ohio launched a new voucher program that will reimburse employers for training their current workforce. Gov. John Kasich has trumpeted the program as a way for Ohio companies to compete in an evolving, high-tech economy, and it could be worth up to $500,000 for a qualifying company.
Ohio Incumbent Workforce Training Voucher Program
The Ohio Incumbent Workforce Training Voucher Program is available for companies in industries such as manufacturing, food processing, energy, financial services and information technology. It is intended to help those companies re-train existing employees to fill a need for skilled labor.
The employees must be Ohio residents earning an hourly wage of at least 150 percent of the federal minimum wage, and they must be involved in production, research and development, IT, logistics or back-office operations; employees in a retail or service position are not eligible. For more information on which employees and what types of training are eligible for the program, click here.
The application process will begin January 7, 2013, and the training must be completed by June 30, 2013. The state has earmarked $20 million for the program in 2013, and vouchers will be awarded on a first-come, first-served basis.
If approved, employers will receive a grant that covers 50 percent of eligible training costs, up to $4,000 per employee with a maximum of $500,000 for a company.
“We have so many people in Ohio who have been trained for an economy that is in some cases middle 20th-century,” Kasich said earlier this year. “We’re in a global economy with things changing at the speed of light, so you must start upgrading the skills of the folks.”
For more information, contact a member of the Barnes Dennig tax team at (513) 241-8313.