Ohio wants to give you money to help train your employees. As a result, the state will make $27 million available to Ohio businesses on September 30, 2013 at 10:00 a.m.
This is the second round of the Incumbent Training Grant Program and will reimburse Ohio companies 50 percent of eligible training costs incurred; up to $4,000 per employee and $250,000 per company.
You may remember the first round of grants that were made available in January. Ohio offered $20 million to help businesses offset training costs and the funds were spoken for the very first day the program opened.
Here is what you need to know to get your piece of the grant:
• Ohio is making $27 million available to businesses to help offset training costs
• Ohio will reimburse employee training that occurs between August 1, 2013 and June 30, 2014.
• The reimbursement amount will be 50% of eligible training costs up to $4,000 per employee and $250,000 per company
This application round will work in a similar manner – but there is a big difference between this round and the January round.
One key difference is Ohio’s pre-application process.
In January, companies completed the entire application process online once the application window opened. Ohio is making it easier this time by allowing companies to complete most of the application now so that when the program opens on September 30, completing and submitting the application will be much quicker. Therefore, it is critical that companies analyze upcoming training costs and complete the pre-application as soon as possible. Companies that wait will likely miss out on grant monies since funds are awarded on a first come – first served basis once Ohio begins accepting applications.
What training is eligible?
The good news is, the list is pretty broad. Eligible training includes:
• Classes at an accredited education institution
• Training that leads to an industry recognized certificate
• Training provided in conjunction with purchase of a new piece of equipment
• Upgrading of computer skills (e.g. Excel, Access)
• Training for the ICD-10-CM/PCS diagnostics classification system
• Training from a national, regional or state trade associations that offers certified training
• Training for improved process efficiency (e.g. ISO-9000, Six Sigma, or Lean Manufacturing)
What businesses are Eligible?
Eligible businesses include for-profit entities with an Ohio locations operating in one of the following industries:
• Advanced Manufacturing
• Aerospace and Aviation
• Financial Services
• Food Processing
• Information Technology and Services
• Polymers and Chemical
• Companies with a Corporate Headquarters in Ohio
What can you do?
A number of our clients obtained grants in January, but they were ready when the application process opened. We can help you get ready too.
The key will be completing the pre-application process prior to September 30. To do so, you will need specific information about training already done after August 1, 2013 or planned upcoming training to be completed before June 30, 2014.
We can help you assemble the required information so that on September 30 you are ready to claim the maximum amount of training grant possible.
If you are interested in having Ohio cover some of your training costs, reach out to your CSH advisor today.
If you have any questions about this program, contact Bill Hallmark at [email protected].