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Posts Tagged ‘American Recovery and Reinvestment Act’

Wage Reimbursement Available to Employers

Thursday, April 21st, 2011

Small business owners looking to hire new trainees can receive up to 90% reimbursement of wages for up to six months with a program being offered by the New Hampshire Division of Economic Development’s Office of Workforce Opportunity.

The special program has been well-received by employers since it was introduced last fall and some funds remain for businesses getting ready to hire new workers, according to George Bald, Commissioner of the Department of Resources and Economic Development.

“We’re seeing an increased hiring by employers as New Hampshire recovers from the recent economic downturn, so this special On-the-Job (OJT) training program is timely and provides real financial incentives to hire people who are looking to rejoin the workforce,” said Bald.

The OJT program offers up to 90% wage reimbursement for businesses with up to 50 employees, and companies with up to 250 workers can receive 75% wage reimbursement when they hire a dislocated worker who has been unemployed for 18 weeks or longer, and who undergo a company-designed training program.

Southern New Hampshire Services (SNHS) administers the U.S. Dept. of Labor-funded program for the state and has job placement specialists who will work with the employer in the design of the training program. There is even one-time support payment for tools and other work-related necessities not generally provided by the employer, said Bald.

Maggie Hinkle, the OJT Job Placement Coordinator at SNHS, said 34 employers throughout the state have utilized the program, funded by the American Recovery and Reinvestment Act (ARRA). “The companies represent a cross-section of our diverse economic base, from manufacturing to information technology, construction and service companies,” said Hinkle.

The average age of trainees in the program is 46, and many of them started with the participating companies under the state’s Return to Work program, which also helps employers with trainee wages.

“There are many out-of-work people who can become great employees, and the OJT program will match employers with those prospective employees, with minimal paperwork and a maximum return for the participating company.”

For information on the program, contact Maggie Hinkle, Job Placement Coordinator at mhinkle@snhs.org or 603-477-4913.

Over $3M Available Through New Energy Reduction Fund

Wednesday, December 9th, 2009

Great news from the good folks over at the Community Development Finance Authority!


New Hampshire businesses and non-profit organizations can access new funds for energy efficiency improvements and renewable energy projects. The Community Development Finance Authority (CDFA) was recently awarded $3.5 million by the Office of Energy and Planning‘s State Energy Program, from the American Recovery and Reinvestment Act, to develop and implement a low-interest loan and grant program to help finance energy improvements in buildings owned by small, medium, and large businesses and non-profit organizations statewide.  

Low-interest loans will be available for comprehensive energy improvements, which could include air sealing, insulation, replacing heating and cooling systems, renewable energy alternatives, and heat recovery systems. Grant funds are available for fuel blind energy audits and some other purposes.

“Our goal is to provide affordable financing to help businesses and non-profit organizations reduce their operating costs with the energy efficiency improvements,” said Kathy Bogle Shields, Executive Director of CDFA. “We look forward to working with our partners including the New Hampshire Community Loan Fund, Jordan Institute, Regional Development Corporations, Business Finance Authority, and Retail Merchants Association in order to create a program that will meet the needs of the businesses that are driving our economy and strengthening our communities.”

Of the $3.5 million in funds, $2.5 million will be for large commercial and industrial businesses and non-profit organizations. The remaining $1 million will be administered by the Community Loan Fund and for micro- and small commercial and industrial businesses and non-profit organizations. All businesses, large or small, seeking energy-reduction financing will apply through CDFA’s on-line system.

energy-savings“Our goal is to provide opportunities for employers to use capital to strengthen their organizations, the communities in which they operate, and the families they serve,” said Community Loan Fund President Juliana Eades. “These funds will allow even small businesses and nonprofits to explore energy improvements that will reduce their operating expenses for many years to come.”

The Energy Reduction Fund is currently being developed. It is anticipated that the application for funds will be available on CDFA’s website, www.nhcdfa.org, early in 2010. All funds need to be awarded by April 2012.

CDFA, created by legislation in 1983, is a nonprofit public instrumentality of the State of New Hampshire.  CDFA administers nearly $40 million in funding resources, which includes a combination of state tax credits and federal Community Development Block Grant, Neighborhood Stabilization, and Energy Reduction Funds.   CDFA supports the development of vibrant and resilient communities by providing resources for community development efforts. For more information about CDFA and its programs, visit www.nhcdfa.org or call 603.226.2170.

The Community Loan Fund turns investments into loans and education to create opportunity and transform lives across New Hampshire. It collaborates with a wide range of donors and lenders, and with business, nonprofit and government partners, to provide the financing and support people need to own homes, have quality jobs and child care, and become financially independent.  Established in 1983, the Community Loan Fund was one of the first Community Development Financial Institutions in the nation, and has received industry awards and recognition for social impact, financial strength and performance. For more information, visit www.communityloanfund.org or call 800.432.4110.