Undoubtedly, businesses have experienced a plethora of major disruptions over the past few years, including accelerated labor market challenges. The shortage of skilled workers coupled with ongoing inflation is forcing employers to do more with less.
One way to combat the problem is to upskill employees you already have. Ohio’s TechCred program can offer eligible employers funding to do just that. Recognizing that businesses across all industries regularly make sizeable investments in technology, the Buckeye state offers the TechCred program to help employers stay competitive and support the upskilling initiative. Since its launch in 2019, the program has helped numerous industries and has recently announced new application windows for its 2024 program. The first of six windows in 2024 ends Jan. 31.
What Is the Ohio TechCred Program?
Ohio’s TechCred program offers credential reimbursement to eligible Ohio employers aiming to develop, train or upskill current or future employees via technology related, industry recognized certifications and credentials. The program reimburses employers up to $2,000 per credential earned and allows for up to $30,000 per employer, per funding round. If you are a registered business in Ohio and employ Ohio resident W-2 employees, your company is eligible for the program.
While the financial incentive of the program is clear, it also could help employers add a tool to their hiring and retention toolbox — incentivizing new hires with “paid” opportunities to advance their careers and maximizing the skills of current employees. Additionally, TechCred can be combined with other federal and state funding opportunities to cover costs that go beyond the TechCred limitations.
Since the program began, Ohio has awarded over $64 million across various industries, which ultimately supported workers across the Buckeye state earning over 57,000 industry recognized credentials (per data from the program’s website). The manufacturing industry has proven to be the largest sector taking advantage of the program to date. Below gives an industry comparison based on data from the data.ohio.gov website:
