New Jersey Businesses Eligible for $40,000 to Train New HiresAnchin AlertOctober 11, 2021
New Jersey Governor Phil Murphy recently announced that the state will be launching the Return and Earn program, an initiative that will provide wage reimbursements to New Jersey employers who hire applicants with identifiable skill gaps. Eligible businesses will be reimbursed for 50% of the wages paid to these New Jersey residents during the employer-provided training period. Employers can receive up to $40,000 ($10,000 for each of four potential employees) over a 6-month period.
While the state is still working on the execution of this program, the eligibility criteria are as follows:
- Businesses must have 100 or fewer full-time employees;
- New hires must be New Jersey residents working a minimum of 32 hours per week;
- The positions to be filled must pay at least $15 per hour;
- Employers must provide substantive on-site training, or in certain instances virtual training, that results in skill badges or industry-recognized credentials; and
- Part-time, seasonal, commission-based or independent contractor positions are not eligible for the program.
Workers hired through the program will also receive a $500 bonus and be eligible for supportive services, such as childcare and transportation reimbursement.
Designed to help small businesses struggling with labor shortages grow and recover from the COVID-19 pandemic, the Return and Earn program could be a great opportunity to fill open positions within your company. Employers interested in participating in this program are encouraged to complete this form to receive application information as it becomes available.
For details about how this program may be beneficial to your business, please contact Alan Goldenberg, Principal and Leader of the State and Local Taxation and Tax Controversy Groups, or your Anchin Relationship Partner.