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Article | Manufacturing

Ohio TechCred Accepting Applications in July

2023-07-12T09:31:46-05:00 Ben WilcoxBen Wilcox

The labor market is still one of the main areas of concern among Ohio manufacturers, as it has been difficult to hire and retain qualified employees. It could be beneficial to upskill current employees to keep up with advances in technology and fill positions of need. Ohio TechCred allows employers to help their workforce learn new skills while being reimbursed up to $2,000 per credential earned, or $30,000 per funding round.

For this round of funding, the TechCred application is open from July 3, 2023, to July 31, 2023, at 3:00 PM. The application process is:

  • An eligible employer applies for funding. An eligible employer is any employer registered in Ohio that employs Ohio resident W-2 employees.
  • The Ohio Department of Development scores the applications and awards funding. This score is based on the level of economic distress in the employer’s region, the regional balance of awards, and the amount of employer contribution toward the cost of credentials.
  • Employees complete an eligible credential program.
  • The employer then submits the required documentation to show the credential was earned and paid for to receive reimbursement. Documentation is required to be submitted within 6 weeks of an employee completing the credential. Credentials must be completed within 12 months from the award date.

    • The credentials are required to be industry-recognized, technology-focused, and short-term (completed in less than 12 months and less than 30 credit hours or 900 clock hours). Many of these credentials can be completed online. There is a list of approved credentials at https://techcred.ohio.gov/about/credential-list. Employers can also request that additional credentials meeting eligibility requirements are added to the approved list.

    For additional information on Ohio TechCred, visit https://techcred.ohio.gov/about/overview. For any questions on this program or other support for manufacturers, contact a member of HBK Manufacturing Solutions by calling 330-758-8613 or emailing manufacturing@hbkcpa.com.

    About the Author(s)
    Ben Wilcox is an Associate in the Youngstown, Ohio office of HBK CPAs & Consultants. Ben is a member of HBK Manufacturing Solutions, a team of specialists focused on the manufacturing industry. Ben joined the firm in 2022 and has experience in the areas of audit, review, and tax preparation for closely held manufacturers and individuals.
    Hill, Barth & King LLC has prepared this material for informational purposes only. Any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or under any state or local tax law or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. Please do not hesitate to contact us if you have any questions regarding the matter.

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