Iowa New Jobs Training Program
The purpose is to provide customized classroom instruction, on-the-job training and other training activities for employees in newly created jobs.
Companies creating new jobs which are engaged in manufacturing, assembling products, conducting research and development, or providing interstate services are eligible. Retail, health and professional service business are excluded.
Terms and Conditions:
An employer may be reimbursed up to 50 percent of new employees' wages for on-the-job training. All training is customized to the company's special needs. Community colleges finance the program by the sale of tax-exempt bonds which are repaid by the tax revenue generated by the salaries and capital invested to support the new jobs. As a result, the company profits are not used to repay the bonds. (see example here)
For additional information, please e-mail OED@dmgov.org or call (515) 283-4004.
Example of New Job Training Assistance
Supplemental New Jobs Credit from Withholding:
This program is designed to creat high-quality jobs by doubling the withholding credit for companies participating in the Iowa New Jobs Training Program. Starting wages must be at least the county average or regional average wage, whichever is lower. Eligibility for the credit is based on a one-time determination by the community college of the starting wage.
New Jobs Tax Credit:
Businesses entering into an agreement under the state's training program, and which increase workforce by at least 10 percent, may qualify for this credit to their Iowa corporate income tax. This credit is equal to 6 percent of the state unemployment insurance taxable wage base. The credit can be carried forward up to 10 years.
Workforce Development Fund:
Programs under this fund provide training for new and existing employees and include:
* Iowa Jobs Training
* Business Network Training
* Targeted Industries Training
* Innovative Skills Development
For more information on these training programs, eligibility requirements and application procedures, contact the Iowa Department of Economic Development (515-242-4700 or email@example.com) or Des Moines Area Community College (515-964-6397 or firstname.lastname@example.org)