Cumberland Salem Cape May Workforce Development Board & Business Services announce various business incentive programs in New Jersey aimed at supporting employers through training and hiring initiatives.
On-the-Job Training (OJT) Program
- Employers hiring full-time, eligible New Jersey residents can receive a wage reimbursement of 50% for up to 26 weeks.
- New hires must be unemployed or facing layoffs, and positions must pay at least $15.49 per hour in the county or $16.50 statewide.
- Employers are responsible for providing substantial on-the-job training tailored to the employee's skills gap.
Incumbent Worker Training (IWT)
- IWT aims to enhance employee skills to retain a skilled workforce and prevent layoffs.
- Eligibility criteria include the employer's commitment to training, the quality of training, and the demand for the occupation.
- Costs covered include tuition, training materials, and instructor wages, while wages during training are ineligible.
Tax Credits
- Employers can access federal tax credits ranging from $2,400 to $9,600 for hiring veterans and individuals facing employment barriers.
- The application must be submitted within 28 days of hire to qualify for these credits.
Federal Bonding Program
- This program offers a no-cost, six-month bond of $25,000 to protect employers against theft or dishonesty when hiring high-risk candidates.
- The bond is available for individuals with poor credit histories, ex-offenders, and others considered risky hires.
For further information, employers can contact the Cumberland Salem Cape May County Workforce Development Board.