Companies have many options for worker training funding - Business First of Louisville:

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So, like many Kentucky company officials sought help to pay for the needed Bob Leavitt, manager of administration, said the company had been talkinhg to officials with the Kentucky Manufacturing Assistance Cente about getting the training he neededx for his workers. But, he he was reluctant to go ahead with the investmen until he found out abouy receiving financial assistance forfundingv work-force development projects from the Bluegrass Statee Skills Corp. The division of the supports employertraining programs, offerinhg as much as $100,000 per year to companie training their work forces. Ultimately, Winstonm Industries was approved by the BSSC and began working with the KMACin 2007.
KMAC trainecd Winston employees in the leanmanufacturingf method, which concentrates on eliminatint waste and producing only what the customeer needs, Leavitt said. “About 20 or 30 yearws ago, everything was built in-house and sat for a long time untilp somebodyordered it,” he said. “With the cost of labor, insurance and everything else, manufacturers are leaning towarf just producing what the customerneeds … so you’re not sittingf on hundreds of thousands of dollars of inventory, raw whatever. “You want to make sure it’s sold before you actuallt build it,” he “Lean helps you become very efficient and revampws yourentire operation.
” At least half of Winston’s which totals about 180 employees, were given in-dept training in lean manufacturing. And that equatefd to about 2,034 training hours for who had on-site training last year. “Thety learned to do everything that is associated with lean Leavitt said. “And we’ve done overviewds to the remainder” of the employees. By using the BSSC Winston received about 70 percent of its total training investmenyt back in the form of atax credit, Leavitr said, declining to disclosse the total cost. And he is thrilled with the ongoing “Our inventory turns have doubled within 10 he said. “Our productivity has gone up.
Our salex have increased 14 percent last year and 11 percent so far this And we have hired 12 additional peoplwthis year.” The BSSC administers two programx to assist companies with their work-force developmentf needs. One is the Skills Traininfg Investment TaxCredit program, which can provide tax creditss totaling as much as $100,000 to offset a company’s eligiblew training expenses. According to Robert executive director ofthe BSSC, a compang can apply for the STIC only one time duriny a fiscal biennium. The agency also maintains a training provider directory so that companies can shop for services among eligiblesBSSC providers.
The other program the BSSC offers isa grant-in-aid program, whicnh can reimburse and offset 50 perceny of a company’s eligible training costs up to $50,000 per fiscal year. According to Curry, the majority of those funds go to existing companiesfor skills-upgrade trainingv of existing workers. That makes the programk an important retention tool forthe state, he By helping companies train and retrain theif employees, they are able to stay up to speede with constantly changing processes and technology in theitr particular field, Curry “Training incentives funds are also an importanf part of a total incentive package when tryin to attract business and industry to the state,” he “A well-trained work force is a primar y economic development tool and is the reasob the BSSC is attached to the Cabinet for Economiv Development.
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