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Finding Funding to Develop Your Workforce

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

Sherry L. Baranek
Contributing Writer, MoldMaking Technology magazine

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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.

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