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Posts Tagged ‘NH Job Training Fund’

The NH Job Training Fund is a Many Spendored Thing

Tuesday, September 1st, 2015

September is the month when the kids go back to school, the calendar kicks over to fall and no matter how old you are, the conditioning of our minds over all the years of grammar, middle and high school and college puts us in learning mode.

So it may be a good time for your employees to go back to the classroom and learn about latest processes and technology that will keep your business competitive. The New Hampshire Job Training Fund is open to businesses located in New Hampshire and businesses intending to locate here, and who pay quarterly taxes into the state’s Unemployment Trust Fund.

Businesses large and small have received grants and yours can, too.

It’s worth a few moments to see how it helped Destefano Architects of Portsmouth and then give us a call today.

Lorna Colquhoun
Communications Director
Division of Economic Development

 

NH Job Training Fund: Win-Win for Employees, Companies

Thursday, July 23rd, 2015

Every month, we hop on the airwaves at WTPL-FM here in Concord and talk about business, programs and anything relating to the state’s economy.

This month, Michael Power of the New Hampshire Job Training Fund was the guest and if you’re connected to a business in the state, this is worth a listen, as Michael talks about the fund, how companies use it and how it helps our businesses stay competitive.

Tune us in at 3 pm on the third Wednesday of every month at 107.7FM in the greater Concord area.

Lorna Colquhoun
Communications Director
Division of Economic Development

 

Ask CJ: Retaining Great Employees

Wednesday, October 26th, 2011

Q: “I have been struggling to keep my employees but I can’t offer the highest wages in town.  Any suggestions for retaining good people?”

A. Finding good employees is a challenge.  Keeping them can be just as big a challenge.  Loyalty between employees and employers isn’t what it used to be as it has become accepted and expected that an employee will move on as new and better opportunities arise.  Understanding the talents and needs of your staff will go a long way in keeping them happy and engaged.  In order to do that, you need to communicate often and as openly as possible.  The instability of the economy makes the communication piece that much more important.

New Hampshire Division of Economic Development Seacoast Business Services Specialist Christine J. Davis

Most employees have taken on more responsibilities as companies have had to cut staff and that stress is starting to show.  People who are unhappy at their place of work will eventually leave and that will cost you time and money.  An article I read a few months back surveyed employees about their dedication to their current position.  The results showed that a sizeable percentage of employees will be looking for something else once they feel the economy has turned around.  Surprisingly money isn’t as much of a driver as one might think.  Employees want to feel valued and appreciated in other ways too.

I spoke with several businesses that have retained some employees for 10, 15, and 20 + years and none of them saw wages as the major factor in keeping their employees.  Both Skip Healy of Northeast Lantern and Joe Torrisi of Jackson Lumber felt that having an open-door policy where employees have access to leadership makes a difference in employee morale and dedication.  Being approachable and flexible can go a long way in creating employee loyalty.  These business owners seek input from their staff and work to create a comfortable work environment.  Skip sits down with each employee during their yearly review and shows them the costs that the business incurs to provide him or her with the various benefits they receive.  The employees have a better understanding of their true compensation and might reconsider leaving for a position that paid a bit more but lacked benefits.  Over at Nantucket Beadboard in Rochester, lunch is prepared for the staff every day and the owner takes pride in preparing meals on their grill.  It is a nice perk that also creates a sense of community.  I was there at the lunch hour the day I visited and the smell was enough to make me want to send over my resume.

Employees who are taught new skills, given more responsibility and shown opportunities for advancement are more likely to stick around.  Understanding what motivates each person and putting him or her in a position that utilizes his or her strengths can help with retention.  The NH Job Training Fund grant, www.nhjobtrainingfund.org, is a great opportunity for businesses to offer skills enhancement training for their employees without bearing the full cost of the training.  Our office oversees this matching grant program which meets monthly to review and grant funds to eligible NH businesses. 

I also spoke with a couple of businesses that are experiencing high turnover.  The reasons vary but included such issues as the quality of the candidate, demands of the job, hard-charging leadership and insufficient compensation.  Maybe it just is the nature of the beast with some industries.  Maybe employee turnover will inevitably be higher for some industries more so than others.  I certainly don’t have all the answers but I do believe that efforts made to create a positive work environment won’t be wasted.

Not every business is going to be able to create the perfect environment, but if you want to avoid a constant search for new talent, take the time to find the right people and do what you can to create an environment that keeps good employees.  It may not cost you as much as you think and it could save you immensely in time and money.

Christine J. Davis works for the NH Division of Economic Development as a resource specialist serving businesses in Rockingham and Strafford counties. Her role is to provide the support needed for businesses so that they may remain viable and growing entities in the community. Ms. Davis lives in Exeter with her two daughters.  When not performing her work or parenting duties she likes spending time outdoors, volunteering in her community and discovering news places with her girls.  She can be reached at Christine.davis@dred.state.nh.us.

Ask CJ: Laying Out the NH Advantage

Thursday, August 25th, 2011

“I have heard that there are grants available to business owners in NH.  Is that true?  What other economic incentives are available to a NH business owner?”

I get this question pretty frequently from businesses of all sizes and industries.  What is that “NH Advantage” that we keep hearing about? 

NH Division of Economic Development Seacoast Business Services Specialist Christine Davis

Unlike some other states, New Hampshire isn’t known to dangle hefty incentive packages to lure new business into the state.  We don’t offer short term special deals to a prospective company from out of state that isn’t available to our current business owners.  What NH does offer, the NH Advantage, includes such things as our lack of an income tax and sales tax.  Also part of the Advantage is our high standard of living, quality of education, and geographic location.  We also have government agencies such as ours, the Division of Economic Development, that are reachable and responsive. 

Besides the above-mentioned incentives for locating your business in the Granite State, there are a number of other potential NH-based financial incentives.  Large energy consumers may be eligible for a grant that covers the cost of an energy audit.  Our division, www.nheconomy.com, offers free technical assistance, which could include an energy audit (valued at $10,000) to businesses that are spending $100,000 or more on their combined utilities.  The business can take this audit and work with a number of financial institutions, including the NH Community Development Finance Authority (which also has some grant funds for energy audits) to assist them with a cost effective plan to implement these recommended efficiencies.  These funds are limited so you will need to check first on availability. 

The Business Finance Authority (BFA) offers the Business Energy Conservation Loan Fund: http://www.nhbfa.com/BFA_LoanPlans_BizEnergy.html which is financing assistance for energy efficiency improvements.  The USDA Rural Development program, www.rurdev.usda.gov/vt, offers both grant and loan programs for a variety of projects and programs.  You will need to visit their website to see if your business falls within the geographic and industry parameters for the projects they support.  The NH Community Development Finance Authority, www.nhcdfa.org, also offers a tax credit program that provides, “New Hampshire businesses the unique opportunity to invest and target their tax dollars to community development projects throughout the state in exchange for a 75% State Tax Credit through the Tax Credit Program. This program enables businesses to invest cash, securities, or property to fund economic or community development projects in exchange for this 75% tax credit which can be applied against any or all three of the business profits, business enterprise, or insurance premium taxes. The donation also may be eligible for treatment as a state and federal charitable contribution.”

Businesses that are located within an Economic Revitalization Zone may qualify for a tax credit if they are making improvements to the facility and creating new jobs.  You will first need to check with your town or our office, www.nheconomy.com, to see if you are located in an ER Zone.  If so, you may be eligible to receive up to $40,000 in tax credits per year for up to 5 years to be used against your business profits tax and or your business enterprise tax.  It is a complicated formula but our staff will help with the heavy lifting.  This program also has limited credits available but that ceiling was not reached last year.

Non-profits are quite familiar with grants, as many of them need this support in order to function.  Grants are almost always restricted to non-profit entities and when I hear someone tell me they received a call about grant opportunities for businesses (of course in exchange for a fee) I cringe.  There is one grant in NH for businesses and it is the real deal.  The NH Job Training Fund is a matching grant program available to both for-profit and non-profit entities.  Companies can be awarded a cash match that ranges from $750 up to $100,000 for skills enhancement training.  What does that include?  Just about any training that increases the skill set of your employees including computer training, technical training, leadership and management skills training and lean manufacturing to name a few.  Details on this fantastic program can be found at www.nhjobtrainingfund.org

Through the University of NH the Green Launching Pad, www.greenlaunchingpad.org, “is a public and private sector initiative that enables local start-ups to bring green solutions to market.  We discover New Hampshire’s best and brightest, and then support them with the financial resources, business infrastructure, and academic expertise to succeed.”  Companies apply and compete to be selected as a GLP recipient.  Winners not only receive some funding and technical assistance but they also get some great press which has a lot of value. 

Also through UNH is the New Hampshire Innovation Research Center.  Created by the Legislature in 1991, these grant funds are meant, “To increase collaboration, technology development and innovation between New Hampshire businesses and universities.  New Hampshire businesses propose projects in collaboration with researchers, typically at Dartmouth Medical or the University of New Hampshire. Companies then match their project awards to fund the research which often leads to new production methods, new products and sometimes new companies.”  You can visit their website, www.nhirc.unh.edu, to learn more about this program.

Each city, town or county may have its own incentive program for business development.  You would want to reach out to your town manager, mayor or economic development director to see what is available.  You never know until you ask.

Christine J. Davis works for the N.H. Division of Economic Development as a resource specialist serving businesses in Rockingham and Strafford counties. Her role is to provide the support needed for businesses so that they may remain viable and growing entities in the community. Ms. Davis lives in Exeter with her two daughters.  When not performing her work or parenting duties she likes to spend time at the beach and discovering news places and activities in the community with her girls.  She can be reached at Christine.davis@dred.state.nh.us.

Five NH Companies to Receive Grants to Train 230 Workers

Tuesday, March 1st, 2011

Governor John Lynch has announced that five New Hampshire companies were awarded Job Training grants in February, which will help to train 230 New Hampshire workers in the new skills that workers and businesses need to compete. The grants, which are matched by the companies, total more than $130,000.

nh-job-training-fundJob Training grants are aimed at keeping good jobs in New Hampshire by helping companies train their workers with new skills to compete in a changing economy. Governor Lynch made it a priority to reinstate the Job Training Fund, which distributes up to $2 million annually in matching grants to allow companies to train new workers or retrain longtime employees.

Since the Job Training Fund was reinstated in late 2007, more than 8,900 workers from across New Hampshire have received training and enhanced skills through the matching grant program.

“With New Hampshire positioned as a national leader in economic recovery, it’s clear our economic strategy is making a difference. That strategy includes ensuring we continue to have a highly skilled, educated workforce in New Hampshire,” Governor Lynch said. “By making wise investments in our workers, companies have the workforce needed to compete, to grow and to locate here in New Hampshire.”

The February 2011 recipients of the Job Training grants are General Electric in Hooksett; Rapid Sheet Metal of Nashua; Sky-Scan, Inc., in Nashua; Altronics Manufacturing of Hudson; and Wiggins Airways in Manchester.

Since the Job Training Fund was re-established, companies from across New Hampshire have received state grants totaling more than $3 million. Companies receiving grants have contributed more than $5.4 million, bringing the total amount invested in new training for workers to over $8.6 million.

For more information about the Job Training Fund, go to www.nhjobtrainingfund.org.

Five Companies Receive Job Training Grants This Month

Wednesday, August 25th, 2010

Gov. John Lynch today announced that five more New Hampshire companies have received Job Training grants in the month of August. 

nh-job-training-fundJob Training grants are aimed at keeping good jobs in New Hampshire by helping companies train their workers with new skills to compete in a changing economy. Gov. Lynch made it a priority to reinstate the Job Training Fund, which distributes up to $1 million annually in matching grants to allow companies to train new workers or retrain longtime employees.

Since the Job Training Fund was reinstated in late 2007 ago, nearly 7,500 workers from across New Hampshire have received training and enhanced skills through the matching grant program.

“New Hampshire is leading the region in economic activity, it is important that we continue to invest in New Hampshire workers and New Hampshire companies if we are to continue leading the way,” Gov. Lynch said. “Job training grants are helping our companies compete and grow, and meet the demands of a changing marketplace.”

The August 2010 recipients of the Job Training grants are: NH Ball Bearings in Laconia; Kheops International of Colebrook; Southeastern Container, Hudson; Airmar Technology Corp. in Milford; and Families in Transition in Manchester.

“The connection between business growth and an investment in professional development is undeniable,” said Department of Resources & Economic Development Commissioner George Bald. “I commend these exemplary companies for making a commitment to improving the skills of their workers and for adding to the economic vitality of the state.”

Since the Job Training Fund was re-established, companies from across New Hampshire have received state grants totaling more than $2.6 million. Companies receiving grants have contributed nearly $5 million, bringing the total amount invested in new training for workers to nearly $7.5 million.

For more information about the Job Training Fund, go to www.nhjobtrainingfund.org.