Ohio’s TechCred program Opens in October to Fund Training
The state of Ohio recently launched its new $30 Million “TechCred” Program, desiring to strengthen Ohio’s skilled workforce by reimbursing employers who help current or new employees earn industry-recognized, technology-focused credentials. Ohio will reimburse up to $2,000 per credential (capped at $30,000 per funding round) to those businesses whose
How The End of LIBOR Could Impact You
LIBOR is widely used in the U.S. to as a basis for variable-rate debt and interest rate swaps. However, because of recent LIBOR manipulation scandals and other factors, Andrew Bailey, Chief Executive for the Financial Conduct Authority of the United Kingdom has “made clear the need to transition away from
How Manufacturers Use Benefits to Spark Improvement
Barnes Dennig, North Side Bank, and USI Insurance recently revealed the results of their 2019 Manufacturing Compensation & Benefits Benchmarking Study that surveyed regional manufacturing companies in Ohio, Kentucky, and Indiana. Of the 97 companies that participated, 48 companies had over 100 employees (large companies) and 49 companies had under
How Manufacturers Can Benefit from the Fed’s Rate Cuts
Recent Interest Rate Cuts After much speculation, the Federal Reserve reduced the interest rate on July 31, 2019. This was the first cut in over a decade. The quarter-point reduction to 2% came as an effort to primarily do three things: Increase inflation to the preferred rate of 2% per
The Precarious State of U.S. Manufacturing
Impact of U.S. and China Trade Tensions The U.S. continues to impose tariffs on over $200 billion of imports from China. Trump and Xi Jinping have agreed to reinstate trade talks. As the talks continue to drag out, it is clear that U.S. manufacturing is being negatively impacted by the
Ohio Introduces New Workforce Development Bill
House Bill 2 was recently introduced in Ohio to establish and fund three new workforce development programs. Overseen by the Development Services Agency, this bill will support industry sector partnerships and industry-recognized credentials by providing $32.5 million in state funding in FY 2020 and FY 2021 for the three programs.