Vermont Training Program Vermont Department of Economic Development

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1 Vermont Training Program Vermont Department of Economic Development 1

2 What We Will Cover About the Vermont Training Program (VTP) About the VTP Vision& Goals Eligibility Application Process & Focus 2

3 About the VTP The Vermont Training Program has been statutorily defined to administer performance-based, workforce training grants by The Vermont State Legislature for over 30 years Over the years the program has evolved in order to better reflect the current economic climate of Vermont 3

4 About the VTP On June 24, 2014 Governor Shumlinsigned S.220 (Act 199). Included in this legislation are key changes to the Vermont Training Program: Eligibility Reporting Collaboration with VDOL & WIB 4

5 About the VTP At the same time, the Department of Economic Development was finalizing the Comprehensive Economic Development Strategy (CEDS) The Department took the time to evaluate the entire VTP program in order to align with: S.220, CEDS, and key stakeholder feedback 5

6 About VTP Vision & Goals 6

7 About VTP Vision Vision: The Vermont Training Program will be a flexible, nimble, and strategic workforce development program to enhance the skills of the Vermont workforce and increase productivity of Vermont employers 7

8 About VTP -Goals Goals: The Vermont Training Program (VTP) aims to: Assist in the funding of employee training projects that are related to the development and/or production of new and innovative: products, equipment, technologies, market opportunities, or processes that will lead to significant advances in innovation and/or productivity 8

9 About VTP Goals Have its funds supplement, not replace, the existing training efforts of employers Assist with training new employees and training that would be critical to the retention of employees Assist with training in skills that are transferable 9

10 About VTP Goals Encourage wage increases for employees Collaboratewith other state Agencies and Departments in order to align efforts and leverage funding Alignits training resources to the Vermont Statewide Comprehensive Economic Development Strategy (CEDS) Vermont

11 VTP -Eligibility 11

12 VTP Eligibility VTP is now open to all sectors of the economy The employee training is for full time permanent positions: Pre-employment (with guaranteed hire post training) New Employees Incumbent Employees Employee training can be either on-site or through a training provider/vendor 12

13 VTP -Eligibility Employers and Training Providers must show that the use of VTP funds supplement training efforts not replace or supplant training efforts Training shall be directly related to the employment responsibilities of the employee VTP funds shall not duplicate other state and/or federal funds for employee training 13

14 VTP -Eligibility Employee compensation (hourly wage), at completion of training, must equal or exceed the livable wage as defined by the Vermont Legislative Joint Fiscal Office (JFO). Currently, this is: $12.48/hour Calculations are made every two years with the next expected in Jan

15 VTP -Eligibility Employees must be offered a minimum of three of the following employee benefits: Health Insurance (w/ 50% or more of the premium paid by the employer) Paid Vacation Child Care Other Paid Time Off,Including Paid Sick Days Dental Assistance Paid Holidays Retirement Benefits Other Extraordinary Employee Benefits 15

16 VTP Application Process 16

17 VTP Application Process Two types of grants: business & training provider One-on-one technical assistance will continue to be a hallmark of the VTP Applicants will fill out an application and matrixes about the proposed training and its value to employees 17

18 VTP Application Process Applications will be accepted and reviewed on a rolling schedule Applications will be reviewed by the VTP Review Team (VTP, DED, VDOL, WIB, AED, and CWS). DED Commissioner has final say Applications will be reviewed and the grant finalized within 18 business days depending on how complex and complete the application is 18

19 VTP Application Process 19

20 VTP Application Process VTP may fund up to 50% of wages for each employee in training (on site training) OR Up to 50% of trainer expenses (classroom/vendor training) Costs associated with travel, materials, consulting, and/or course development will not be considered 20

21 VTP Application Focus 21

22 VTP -Application Focus Applications to the VTP should focus on a newspecific and strategic/innovative employee training project that falls within eligibility guidelines. The VTP is looking to assist with training that will bring the employees and the company to the next level. 22

23 VTP Application Focus Training projects can relate to new and/or innovative: Products Equipment Technology Processes Market Opportunity Significant Productivity Gain 23

24 VTP Application Focus The VTP is open to all sectors. The VTP is placing first priority on the following CEDS Target Sectors & related skills: 24

25 VTP Application Focus Secondary priority will be placed on the following CEDS Target Sectors & related skills: Arts & Culture Education 25

26 VTP Application Focus Additional priority will be placed on applications that show: New Hires Retained Employees Wage Increases for Employees Significant Investment in the Long Term Success of the Company in Vermont 26

27 VTP Application Focus Training Provider applications will follow the same new/innovative training project approach Training Provider applications should be developed in partnership with multiple employers 27

28 VTP Application Focus Additionally, priority will be placed on training provider applications that show: Focus on CEDS Target Sectors and/or Related Skills New Hires Retained Employees Wage Increases for Employees Stackable Credentials, Industry Recognized Certification and/or Career Pathway Participation Partnership with Career/Tech Center, Industry Association or a Labor Union 28

29 Vermont Training Program 29

30 Vermont Training Program The VTP is excited to roll out this improved version of the program: Access for a wider range of VT employees Alignment with CEDS Specific goals to improve the VT workforce in a strategic and collaborative manner 30

31 Vermont Training Program Our website has the most up to date information and applications : Feel free to be in touch with questions: Beth Demers