Financial Incentives

Incentives Available to Business

Subsidized employment programs and tax credits are available to your business when you hire eligible applicants from targeted populations.

Work Opportunity Tax Credit (WOTC)

Work Opportunity Tax Credit is a federal income tax credit that provides an incentive for private for profit employers to hire individuals of certain target groups, which have traditionally faced significant barriers to employment. These credits reduce an employer’s cost of doing business and require little paperwork. Employers can save up to $2400 per new hire.

On-The-Job Training (OJT)

With On-The-Job Training (PDF), employers may be eligible to receive 50% to 90% reimbursement of an eligible person’s wages if the employer hires and trains someone who lacks the skills necessary to perform the job.

Non-Traditional Occupation (NTO)

Non-Traditional Occupation is a program available to assist employers who wish to hire individuals in non-traditional occupations.

DVR Consultations

DVR Consultations provide technical assistance and consultation to restructure jobs and job sites to accommodate individuals with disabilities, including a company’s own injured workers.

The Federal Bonding Program

The Federal Bonding Program is a unique tool to help a job applicant get and keep a job. The program issues Fidelity Bonds, and is sponsored by the US Department of Labor free of charge to the employer.

Note

All financial incentive programs are subject to available funding and legislative requirements or changes.

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