State of Kentucky Providing Sizeable Job Training Grants!

Introduction 

Many employers do not realize the power of grants, often because they think securing one requires too much effort. However, the state of Kentucky's training grant program is a game changer that Kentucky employers should consider.

The Kentucky Grant-In-Aid (GIA) Program can significantly reduce business labor costs by providing financial support for employee training. Here's how:

Direct Financial Support

The GIA grant offers cash reimbursements. The state will cover 50% of labor costs while employees are in training. This direct financial support helps businesses offset the costs associated with training employees. Other items that the state will cover include materials and supplies used for training and the cost of outside vendor training.

Long-Term Cost Savings

While the initial investment in training might seem substantial, the long-term benefits often outweigh the costs. A more competent and efficient workforce can lead to sustained cost savings.

The Skills Training Investment Tax Credit

The state of Kentucky has a sister program to the Grant in Aid (GIA): the Skills Training Investment Tax Credit (STIC). This program covers the same items, including wages paid to employees while they are in training. However, the difference is that the state awards the benefit in the form of a state income tax credit, which, for many companies, is just as valuable as a grant.

Greater Participation by Kentucky Employers

Our firm, EIAG, aims to simplify access to government financial programs like the Kentucky GIA and STIC grants. Capturing these state funds & tax credits will help improve your company's profitability while building a better-trained workforce.

If you have any more questions or need further details, feel free to ask!

Contact EIAG at (602) 687.7000 or click Contact Us to get started.