This incentive is available to both new and expanding industry and begins with a company developing a training plan including the number of people to be hired, types of skills required and types of training needed. The plan is developed in conjunction with the FastTrack staff and is designed to be customizable and flexible. Companies will track costs associated with implementation of the training program, then submit to the state for reimbursement.
Job training assistance can include either traditional or job based training reimbursement.
Traditional training and reimbursement may include:
A potentially faster method for reimbursement of training costs, companies may seek reimbursement from the state of Tennessee once a job creation commitment and cost-per-job is established. JBT is available in FJTAP as well as Tennessee Job Skills (TJS) as a possible reimbursement method.
In order to qualify, companies must work with ECD to reach a contractual agreement that determines:
More information about FJTAP can be obtained by calling (615) 741-6201.
Similar to FJTAP, but with a focus on employers and industries that create high-skill, high-wage jobs in emerging, high-demand and technology focused sectors of the economy. Training staff will work with companies to develop a unique, flexible, comprehensive training plan that meets the company's initial training needs and will then follow up to insure each phase of the program meets the company's needs. Companies track costs and apply to the State for reimbursement. Reimbursement rates depend on the level of training and the types of instructors utilized.
More information about TJS can be obtained by calling (615) 741-6201.
Utilizing the company's job specifications, the Tennessee Department of Labor and Workforce Development will recruit and screen job applicants through the department's Job Service Division. Those applicants meeting the company's criteria will be forwarded to the company for hiring consideration. The Tennessee Department of Labor and Workforce Development also provides:
For more information on the Tennessee Department of Labor and Workforce Development, please visit http://www.tn.gov/labor-wfd/.
FastTrack Infrastructure Development Program (FIDP) Local communities that apply to ECD with a goal of improving public infrastructure in order to create new jobs and business investment may be eligible to receive FastTrack Infrastructure Development Program (FIDP) funds. With some exceptions, applications must be for specific projects and must be tied to a company commitment to create or retain a defined number of jobs. Qualifying projects must involve companies engaging in manufacturing or other economic activities beneficial to the state of Tennessee. Companies for whom more than 50% of the product or service is involved in the manufacture of products for export are also eligible. FIDP grants require local community matching funds calculated along a varying scale based on a community’s ability to pay. See the Program Guidelines for more information.
FastTrack Economic Development Program (FEDP) grants or loans may be used to facilitate economic development activities that are not eligible for FastTrack Infrastructure Development Program (FIDP) or FastTrack Job Training Assistance Program (FJTAP) funds.
These activities include, but are not limited to, grants or loans for retrofitting, relocating equipment, purchasing equipment, building repairs and improvements, temporary office space or other temporary equipment related to relocation or expansion.
It is the intent of the General Assembly that these economic development funds be used in exceptional circumstances when the funds will make a proportionally significant economic impact on the affected community.
FastTrack Economic Development Program grants or loans to assist eligible businesses may be made only to local governments or to their economic development organizations or other political subdivisions of the state.