Iowa New Jobs Training 260E
The Iowa New Jobs Training Program (260E) supports businesses adding employees through expansion in, or relocation to, Iowa. The flexible funding of the 260E program allows your company, in consultation with SCC experts, to implement an effective training plan for your new employees. The plan is designed to build the skills needed by your new employees to become productive.
The 260E program is of no cost to your business.
Training is funded bySCC through the sale of certificates for the amount of anticipated tax revenue generated from new employee salaries. The revenue generated from the certificate sales is used to establish a training fund for your company. Your company can then use the funds to pay for new employee training. The certificates are repaid by your business over a ten-year period by diverting a portion of your payroll taxes from the State of Iowa to SCC. The amount diverted is based on the wages of new jobs your company has added.
To be eligible a business must be located in or relocate to Iowa, must be engaged in interstate or intrastate commerce for the purpose of manufacturing, processing, assembling products, warehousing, wholesaling, or conducting research and development and cannot have closed or substantially reduced its employement base at any of its other business sites in Iowa in order to relocate substantially the same operation to another area of the state.
Other funding benefits that can supplement the Iowa New Jobs Training program include the corporate income tax credit and the Iowa New Jobs and Income Program. Our Staff Economic Developer can provide you with additional information regarding these programs.
For further information contact:
610 North 4th Street, Suite 220
Burlington, Iowa 52601