Iowa New Jobs Training Program (260E)
The Industrial New Jobs Training Program provides businesses that are new or are expanding to the state with new employee training. The program is financed through bonds sold by Southeastern Community College Center for Business. Depending on wages paid, the business then diverts 1.5 or 3 percent of the Iowa state withholding taxes generated by the new positions to the community college to retire the bonds. Because of this structure, the training is available at what is essentially no cost since the bonds are retired with dollars that otherwise would have been paid to the state as withholding taxes. In addition to increasing worker productivity and company profitability, businesses participating in the Iowa Industrial New Jobs Training Program may also be eligible for a corporate tax credit if Iowa employment is increased by at least 10 percent.
Eligibility (for businesses):
- Must be located in, or relocating to Iowa.
- Must be engaged in interstate or intrastate commerce for the purpose of manufacturing, processing, assembling products, warehousing, wholesaling, or conducting research and development.
- Service-providing businesses must have customers outside of Iowa.
- Cannot have closed or substantially reduced its employment base at any of its other business sites in Iowa in order to relocate substantially the same operation to another area of the state.
What training costs are eligible?
- Company and workforce assessment services and testing
- Adult basic education and workplace literacy
- Reimbursement of training travel costs
- Credit instructional courses
- Job-related instruction, including moderately or highly specialized
- On-the-job training
- Contracted or professional services
Contact the Clinton Regional Development Corporation to secure an application and determine a training plan that will be most effective for your business.