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. The following is a breakdown of the bill’s program spending:
- TechCred Program – $15 million per year ($14.7 million for employer assistance and $300,000 for administrative costs) to reimburse employers for costs of training current of prospective employees in receiving a microcredential;
- Individual Micro-Credential Assistance Program – $15 million per year ($14.7 million for employer assistance and $300,000 for administrative costs) to provide grants to individuals to pay for the costs of training to earn a microcredential; and
- Industry Sector Partnerships Program – $2.5 million per year to support regional partnerships across the state, including a grant program to develop the partnerships and promote their mission.
For more information on House Bill 2, view the Ohio Legislative Service Commission’s Bill Analysis here.
For more information on Ohio manufacturing workforce services, including a directory of industry sector partnerships, visit the Ohio Manufacturers’ Association website here.
Credits and Incentives Experience You can Trust
The Barnes Dennig Tax Team has experience and existing relationships with various government and economic development agencies that can lead to promising opportunities and carry negotiations to successful conclusions. We stay on top of new programs available as well as those that have been retired, so you can take advantage of everything that applies to your business. We have saved our clients millions of dollars.
Before you make your next new hire, change locations or invest in a capital project, be sure to contact us to see what credits and incentives may be available to you.