Tax Credits and Training Grants
Work Opportunity Tax Credit (WOTC)
The Work Opportunity Tax Credit (WOTC) is a federal income tax credit that provides incentives to private, for-profit businesses to encourage the hiring of individuals from targeted groups of job seekers who traditionally have difficulty finding employment.
Businesses can reduce their federal income tax liability up to $9,600 during the first year of employment of a member of a targeted group, depending on the target group. There is no limit to the number of qualified employees for which a business may receive this tax credit.
The WOTC for all veteran target groups, including those authorized under the VOW to Hire Heroes Act, are available for hires made through Dec. 31, 2013. All other groups have been retroactively reauthorized for hires made from Dec. 31, 2011 to Dec. 31, 2013.
WOTC Qualified Targeted Groups:
- Temporary Assistance to Needy Families recipients
- Veterans/Disabled Veterans
- Unemployed Veterans
- Designated Community Residents (residing in an Empowerment Zone)
- Vocational Rehabilitation referrals
- Summer Youth (residing in an Empowerment Zone)
- Supplemental Nutrition Assistance Program (SNAP) participants
- Supplemental Security Income recipients
- Long-term Family Assistance recipients
- Disconnected Youth
On-the-Job Training (OJT)
Employers may be reimbursed from 50-90 percent of a qualified new employee’s wage while they are in on-the-job training. Training is tailored to meet the employer’s specific needs. Workforce Connection provides recruitment and referral of job applicants. The higher reimbursement rate for eligible employers has been extended through June 30, 2013.
Custom Business Training Program (CBT)
Designed to meet the special requirements of local employers, the Custom Business Training program can cover up to 100 percent of out-of-pocket costs associated with training, licensing and certification of existing employees. PLEASE NOTE: Workforce Connection is currently accepting applications for CBT program funding available beginning July 1, 2013.
Incumbent Worker Training (IWT) Program
Incumbent Worker Training (IWT) is a state program that provides training to currently employed workers to keep Florida's workforce competitive in a global economy and to retain existing businesses. The program is available to all Florida businesses that have been in operation for at least one year prior to application and require skills upgrade training for existing employees. Funding priorities apply.
Other Grant Programs
Workforce Connection has been a leader in acquiring state and federal grants. Over the last five years, Workforce has acquired over $5 million in grant funding to serve area workforce needs. Our team identifies gaps in the workforce pipeline and develops strategic grants to fill those current and projected needs. From grants to build our future energy workforce demands to a variety of industry strengthening grants in healthcare and manufacturing, we look at the macro needs of our targeted industries, as well as our individual employer needs. We are anticipating competitive grants targeting green jobs, healthcare and healthcare IT.
To learn about these incentive opportunities, please contact a member of our team at (352) 873-7939, ext. 5556 or 800-746-9950.
For information about additional financial incentives, please visit the Florida Department of Economic Opportunity, the Florida Department of Strategic Business Development and/or Services for Employers at the Employ Florida Marketplace.