Fourth Round of Funding for Ohio Incumbent Workforce Program– October 06, 2015 by Hannah Prengler

Applications accepted beginning October 14th

Posted by Hannah Prengler, CPA

The Ohio Incumbent Workforce Training Voucher Program is about to begin its fourth round of training grant funds for Ohio workers. Employers can apply online for reimbursement for various trainings. Completed applications will be accepted beginning October 14, 2015, at 10 a.m.Funds are awarded to companies on a first-come-first-served basis.

The program reimburses companies for up to 50% of employee training expenses, limited to $4,000 per employee and $100,000 per legal entity. Some of the training opportunities available include (among others) operational skills training, certification processes and equipment training.

To qualify, the training must be completed (and paid for by the employer) between January 1, 2016, and December 31, 2016. Training can occur at the employer's facility, at a provider's training facility or a third-party site. There are no hiring or capital investment requirements associated with the program. In addition, the program is offered to the following industries:

  • Advanced Manufacturing
  • Aerospace and Aviation
  • Automotive
  • Back Office
  • BioHealth
  • Corporate Headquarters
  • Energy
  • Financial Services
  • Food Processing
  • Information Technology and Services
  • Logistics
  • Polymers and Chemicals
  • Research and Development

While the Ohio Incumbent Workforce Training Voucher Program is a great effort to help expand the knowledge of Ohio’s workforce, applying is a very labor-intensive process. An overview of the process can be found at http://www.development.ohio.gov/bs/bs_wtvp.htm.

Working with a professional consultant to maximize the chance of receiving funds may be helpful. Additionally, the program is highly competitive; typically all funds are awarded on the first day they are made available. The best strategy is to have your application ready to go before October 14th.

We want to hear from you! We encourage you to comment below on this blog post, share it on social media or contact Hannah Prengler at hprengler@cohencpa.comof Cohen & Company’s state and local tax team.