With the start of a new funding cycle on July 1, 2011, the Denver Workforce Centers are seeking business partners to participate in the City’s Training Subsidy program. The program offers subsidies to qualified businesses to support new hires and training for current staff.
Funded by the federal Workforce Investment Act, the program offers a minimum of 50 percent of a new hire’s wages to subsidize training for a period of up to six months. Subsidies for individual positions cannot exceed $8,000. The Denver Workforce Centers provide qualified, pre-screened workers that closely match the requirements of available positions.
“This represents just one of the many ways we’re assisting businesses with staff recruitment, retention and training,” said Ledy Garcia-Eckstein, acting director of Workforce Development for the Denver Office of Economic Development. “Our workforce centers are looking forward to expanding partnerships throughout the business community and helping additional employers with their staffing needs.”
The Training Subsidy program also offers customized training subsidies to businesses needing to increase the skills of their existing employees. Businesses requiring staff training in order to remain competitive can apply for subsidies covering up to 50 percent of the training costs. Training must relate to the introduction of new technologies, the introduction of new production or service procedures, and/or additional skills required to upgrade to a new job/classification.
During the past program year, OED established subsidy contracts for over 150 job placements with businesses in several industries, including financial services, energy, construction/skilled trades, health care, retail and hospitality.
Participating employers include Allonhill, a mortgage due diligence and credit risk management firm that has hired new workers and developed training for its workforce through the program. Since launching in 2008, the firm has grown to more than 300 employees.
“Allonhill has benefited tremendously from its partnership with the Office of Economic Development,” said Sue Allon, CEO and founder of Allonhill. “The program has helped to facilitate our firm’s rapid growth.”
To be considered for the program, a business must be located in Colorado for at least 120 days, pay into workers’ compensation and unemployment insurance, and have not laid off employees within the past 90 days. Subsidies are only available for full-time positions that provide at least 32 hours of work per week.
To apply for the program, businesses must submit an interest questionnaire online at www.milehigh.com.