Funds for Retraining Available Employee for Existing Industry

Funds for Retraining Available Employee for Existing Industry Eligible businesses engaged in manufacturing, processing or technology intensive industry or warehousing and distribution may be eligible for a refund of up to $1,000 per eligible full-time employees per year for retraining costs. The retraining must be necessary for the business to remain competitive or to introduce new technologies. An eligible employee is a production or technology first line employee or immediate supervisor who has been continuously employed by the company for at least one year. “Technology employee” includes an employee who is directly engaged in the design, development and introduction of new products or innovative manufacturing processes, or both, through the systematic application of scientific and technical knowledge at a technology intensive facility. Please note that companies will not be allowed to claim Job Development Credits and Retraining Credits on the same employee. The retraining must be approved and coordinated by the State Board for Technical and Comprehensive Education. A technical college may provide the retraining program delivery directly or contract with other training entities to accomplish the required training outcomes. Refunds per eligible employee for retraining may not exceed $1,000 in a year, or $5,000 over five years. The company must match $1.00 for each $1.00 of the employee’s withholding share used for training. The total amount is paid to the technical college providing the training. In order to collect funds for retraining, a company must pay an annual $250 renewal fee.

Eligible businesses engaged in manufacturing, processing or technology intensive industry or warehousing and distribution may be eligible for a refund of up to $1,000 per eligible full-time employees per year for retraining costs. The retraining must be necessary for the business to remain competitive or to introduce new technologies. An eligible employee is a production or technology first line employee or immediate supervisor who has been continuously employed by the company for at least one year. “Technology employee” includes an employee who is directly engaged in the design, development and introduction of new products or innovative ma