What is the Workforce Training Fund?
The Workforce Training Fund Program (WTFP) helps address business productivity and competitiveness by providing resources to Massachusetts businesses to fund training for current and newly hired employees. In order to qualify, businesses must pay into the Fund.
Built Environment Plus supports groups of companies, which operates as a consortium, to apply to the WTFP for a grant up to $250,000. The program is not designed to support courses that a company is legally mandated to provide (such as OSHA training) are not eligible for funding under this program. Training programs have up to two years to complete.
Companies in Massachusetts pay an employee unemployment tax as part of their payroll taxes. The unemployment tax fund can be proactively accessed to train your employees through this program. The state understands that by training your employees your company is less likely to experience layoffs, and has more skilled professionals in the workforce.
Why might the WTFP be right for you?
This program can help your organization with the goals of increasing productivity, addressing business challenges, increasing revenues, creating new jobs, and retaining staff.
The WTFP is available to help you achieve one or more of these goals by providing tax dollars to train your employees at no cost to you. Your firm decides which training would benefit your business, such as technical training and soft skills training.
Advantages of training your staff
- Increase their productivity and quality of work
- Increase overall profits
- Improve employee motivation
- Improve customer satisfaction
- Give you a competitive advantage
- Reduce staff turnover and absenteeism
- Help you adapt to change and prepare for growth
- Keep up with industry changes
- Stay ahead of competitors
- Advance employee skills
- Provide internal promotion opportunities
Workforce Training Fund Timeline