Cha-ching! $30 Million in Grants Available to Train Ohio Workforce– September 08, 2014 by Tracy Monroe

In each of the last two years, the State of Ohio has made $30 million of training grant funds available to companies on a first-come-first-served basis via an online application process. The program, called the Ohio Incumbent Workforce Training Voucher Program, is returning again this fall for perhaps the final time.

The program is highly competitive; typically all the funds are awarded on the first day they are made available. The program reimburses companies for up to 50% of employee training expenses, limited to $4,000 per employee and $250,000 per legal entity. It is available to many industries with the exception of local service organizations such as retail, hospitality, restaurant, landscaping, auto repair, etc. There are no hiring or capital investment requirements associated with the program.

On a personal note, I worked directly with our controller to submit an application last year. I found it to be a convoluted and labor-intensive process and would strongly encourage anyone who is interested to work with a professional consultant to maximize the chance of receiving funds.

Silverlode Consulting, a local company that helps guide companies to secure and manage public-sector financing and economic incentives packages, shared the following tip with us.

The trick is to have an application completely prepared before the expected application date of September 30th, so it can simply be submitted on that morning.

If you are interested in learning more, we encourage you to take our short survey developed in conjunction with Silverlode Consulting to help identify if your company may be eligible.

We want to hear from you! We encourage you to comment below on this blog post, share it on social media or contact Tracy Monroe at of Cohen & Company’s state and local tax team. You can also visit Silverlode’s news feed for more on the program.

This communication is published by Cohen & Company for our clients and professional associates. Cohen & Company is not rendering legal, accounting or other professional advice. Any action taken based on information in this publication should be taken only after a detailed review of the specific facts and circumstances.