Attorneys & Professionals
On December 28, 2012, Governor Kasich announced the establishment of the new Ohio Incumbent Workforce Training Voucher Program (the Program), which is designed to offset a portion of a company’s costs to upgrade the skills of its incumbent workforce, and will provide reimbursement to eligible companies for specific training costs. In order to be eligible for the Program, companies must have a facility in Ohio that has been in continuous operation for the 12 months immediately prior to the submission of the Program application, and must operate in one of the following targeted industries:
- Advanced Manufacturing
- Aerospace and Aviation
- Corporate Headquarters
- Financial Services
- Food Processing
- Information Technology and Services
- Polymers and Chemicals
Companies can receive reimbursement from the Program of 50% of the eligible cost to train each employee, up to $4,000 per employee for each state fiscal year. In addition, total company funding from the Program is limited to $500,000 for each state fiscal year. Eligible costs include tuition, instructor or trainer fees and instruction materials, including manuals, textbooks and handouts.
Funding for the Program is very limited, and will be provided on a first come, first served basis. The application for funding is available on January 7, 2013, and all training must be completed between February 4, 2013 and June 30, 2013. Once funding for the current state fiscal year is completely committed, the state will hold subsequent applications in a queue in the event that additional Program funds become available. Please note, however, that no additional funds are currently encumbered, and there is no guarantee that additional funds will become available. Thus, it is critical that an application be completed and submitted quickly to receive Program funding.
If you think that your company or a company in your community could benefit from the Program, please contact Scott J. Ziance – (614) 464-8287; firstname.lastname@example.org; or Chris L. Connelly – (614) 464-8244; email@example.com.
This client alert is for general information purposes and should not be regarded as legal advice.
IRS CIRCULAR 230 DISCLOSURE: In order to ensure compliance with requirements imposed by the U.S. Internal Revenue Service, we inform you that any federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and it cannot be used, by any taxpayer for the purpose of (i) avoiding penalties that may be imposed under the U.S. Internal Revenue Code or (ii) promoting, marketing, or recommending to another person, any transaction or other matter addressed herein.