NTMA
Published

Finding Funding to Develop Your Workforce

   Without the proper monetary resources it is impossible to develop your workforce.

Share

 
 
 
Without the proper monetary resources it is impossible to develop your workforce. U.S. mold manufacturers can receive financial assistance through the Trade Adjustment Assistance for Firms (TAA)—a federal program that is regionally managed by a network of 12 non-profit Trade Adjustment Assistance Centers and sponsored by the U.S. Department of Commerce. This cost-sharing federal assistance program pays for half the cost of consultants or industry-specific experts for endeavors that improve a manufacturer's competitiveness. Visit taacenters.org to find the center nearest you.

The Incumbent Worker Training Program is funded by the Workforce Investment Act and is offered in every state in the country. The purpose of the grant is to provide grants to eligible employers to assist with expenses associated with skills upgrade training for full time permanent employees. Every state has the power to set the guidelines of what is covered and not covered in the grant. Reimbursement amounts also vary state to state, however the minimum is typically a 50 percent reimbursement on the cost of training, according to a spokesperson from the National Skills Coalition—an organization that organizes broad-based coalitions seeking to raise the skills of America’s workers across a range of industries.

Related Content

  • Making Quick and Easy Kaizen Work for Your Shop

    Within each person is unlimited creative potential to improve shop operations.

  • MMT Chats: American Mold Builders Association on Best Practices for Employee Attraction and Hiring

    MoldMaking Technology Editorial Director Christina Fuges sits down with AMBA’s Managing Director Kym Conis and the Director of Strategic Execution Rachael Pfenninger to discuss its Employee Attraction and Hiring Playbook and the Workforce Development Task Force. This episode is brought to you by ISCAR with New Ideas for Machining Intelligently. 

  • MMT Chats: Giving Back by Answering the Moldmaking Education Need

    MoldMaking Technology Editorial Director Christina Fuges checks in with Bruce Cateon, an executive advisor at OASIC Consulting. Bruce started out in moldmaking, eventually becoming an industry consultant and taking time to work on his passion project the “Injection Mold Design Handbook” as a way of giving back to the industry that has given him so much.  This episode is brought to you by ISCAR with New Ideas for Machining Intelligently.

Become a NTMA member today!
NTMA
Gardner Business Media, Inc.
NTMA
Progressive Components
Techspex
KM CNC Machine Service
Maximum Mold Precision
NTMA