Employer News

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Call us at 413-532-4900 and ask for a Business Account Representative who can help coordinate your next successful job fair with us and get qualified people working for your company!

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TAKE A LOOK at THREE funding opportunities offered by the U.S. Small Business Administration (SBA).

One is focused on exports, another is about capital formation, and the third is a loan program for distressed communities. These opportunities are available to states and territories, investment fund managers, and community-based non-profit lenders, respectively. These may offer opportunities for you to engage your business customers and connect them with SBA.

Our partners at SBA provide more information on these and other business funding programs on their website. Links to each of the specific funding opportunities are also included below.

1. State STEP Grants for Exporting
SBA is inviting states and U.S. territories to apply for $30 million in grants that can be used in a variety of ways to help increase exporting by small businesses. SBA began accepting applications on March 27. The State Trade and Export Promotion (STEP) grant initiative, launched under the Small Business Jobs Act of 2010, is a pilot grant program authorizing up to $90 million in grants to the states and U.S. territories over three years to help them increase the number of businesses that export, and increase the value of small businesses exports as well. In fiscal year 2011, the STEP program awarded 52 grants totaling $30 million. The average grant was for $577,000. More information can be found on SBA’s website: click here.

2. Early Stage Innovation Funds
SBA is inviting experienced early stage investment fund managers to apply for licensing as Early Stage Innovation Funds as part of its Small Business Investment Company capital investment program. Licensed Early Stage Innovation Funds can receive SBA-guaranteed funding to match their privately raised capital up to a maximum of $50 million.  Early Stage Innovation Funds must invest at least 50 percent of their investment dollars in early stage small businesses. A fact sheet on this program can be found on SBA’s website: click here.

3. Intermediary Lending Pilot Program
The Intermediary Lending Pilot Program (ILP) provides long-term loans to eligible non-profit intermediary lenders to finance their lending to small businesses. Small businesses, especially those in underserved markets looking for loans up to $200,000, will soon have access to twice as many community-based funding sources under the SBA program. Launched last year under the Small Business Jobs Act of 2010, the Intermediary Lending Pilot Program is designed to expand access to capital to small businesses and drive economic growth and job creation.  Under the program, SBA makes loans of up to $1 million to participating lenders, which use the funds to make smaller loans to startup, newly established and growing small businesses. SBA anticipates that an ILP Intermediary will relend its ILP Loan funds approximately 2.5 times over the 20-year term. The program funded 20 ILP Intermediaries in 2011, and hopes to identify another 20 this year in the second round. More information can be found on SBA’s website: click here.

Do You Know About the Grants Available to Help Train Your Workers?

The Workforce Training Fund has undergone some changes to make it more employer-friendly! Click here to find out more details on how you can utilize this money for your company!

Executive Office of Labor and Workforce Development Increases Flexibility of Workforce Training Fund

- Application Process Now Allows Rolling Deadlines and Features a Consortia Grant Option -

BOSTON – February 16, 2012 – The Executive Office of Labor and Workforce Development today announced increased flexibility of its Workforce Training Fund application process to respond to the evolving needs of businesses across the Commonwealth. The key new features are that businesses may now submit applications for training funds on a rolling basis as well as apply for a grant via consortia.

The fund is a great opportunity for organizations to build workers’ skills. Employers may apply for grants of up to $25,000 for technical assistance programs, or they may apply for grants of up to $250,000 for full training programs. Training programs may last up to two years.

Businesses are encouraged to apply for a grant via consortia. Third parties may apply on behalf of and manage grants for a business consortium and up to 10% of a grant may be used to cover associated administrative costs.

Third parties may include community colleges, workforce investment boards, community-based organizations, chambers of commerce, and career centers among others.

“Rolling deadlines offer companies the opportunity to seek grants in a time-frame that best suits their business needs,” said Joanne F. Goldstein, Secretary of Labor and Workforce Development. “We also encourage small businesses to take advantage of the consortia application to leverage the strengths of fellow collaborators to navigate today’s ever-changing marketplace.”

Under the Patrick-Murray Administration, over $58.8 million has been used to train over 79,605 Massachusetts workers since 2007. The Workforce Training Fund, which is financed entirely by Massachusetts employers, provides resources to Massachusetts businesses to train current and newly hired employees.

Potential applicants are encouraged to visit http://www.mass.gov/wtfp for additional information and requirements.

THE NEXT WORKFORCE TRAINING FUND INFO SESSION:
Bunker Hill Community College, Mar. 15, 10 a.m. – 12 p.m.
Call 1-800-252-1591 for more information on this session.

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May 12, 2011

FOR IMMEDIATE RELEASE

Contact:
Alison Harris, 617-626-7121
Bonnie McGilpin, 617-626-7176

YouthWorks Launches Website to Connect Employers with Teenage Job Seekers
Employers Encouraged to Explore Benefits of Hiring Young People

       
Boston – May 12, 2011 - On the heels of Governor Patrick announcing a $6 million commitment to youth summer jobs to create an estimated 3,000 jobs for at-risk youth in twenty-nine cities and towns across the Commonwealth, the Executive Office of Labor and Workforce Development's Commonwealth Corporation today announced the new YouthWorks website aimed at connecting employers with young people looking for work.

The brand new portal, http://massyouthemployment.org allows employers to explore how to hire young people, by registering as a worksite, posting jobs, and learning more about the benefits of hiring teens in today’s competitive economy. It will serve as a resource for teens looking for a summer job, as well as providing tips and information about getting ready for work and exploring careers.

The Patrick-Murray Administration is committed to funding jobs for the Commonwealth’s at-risk youth, as part of a multi-faceted strategy for eliminating youth violence in the Commonwealth. Summer jobs give students a safe and productive way to earn money while serving their community during their time away from school.

“These jobs are essential to providing our Commonwealth’s at-risk youth with a better opportunity for a brighter future, while reducing youth violence across the Commonwealth," said Governor Patrick. "I look forward to working with our partners to ensure that YouthWorks remains fully funded this summer, so we can continue our commitment to the next generation."

The Patrick-Murray Administration is also anticipating additional summer jobs funding from the current budget deliberations, with the potential to bring the total up to 4,000 jobs for youth this summer. 

Visit EOLWD at:www.mass.gov/eolwd on Twitter: www.twitter.com/MassLWD Jobs Blog at: www.jobs.blog.state.ma.us and JobQuest at www.mass.gov/jobquest

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