The city workforce recently received a big lift when the New York City Department of Small Business Services (SBS) announced over $900,000 in NYC Business Solutions Training Funds awarded to help eight local employers train their employees.
The actual value of this award can balloon to over $1.5 million if enough applications are submitted. Pre-applications are currently available for $1.5 million in NYC Business Solutions Training Funds for employers in the construction, financial services, food services-accommodations, healthcare, information-professional services, manufacturing, retail, and transportation sectors, and must be submitted by August 14, 2008.
NYC Business Solutions Training Funds provides up to $400,000 to cover up to 60-70 percent of the eligible costs of training employees.
The $920,000 of funds that were presented to these small businesses will be matched by employer contributions of $826,820 in order to train 563 New Yorkers, boosting the competitiveness of local businesses while resulting in 80 new hires and projected wage increases for 495 New Yorkers.
“The majority of the New Yorkers who will receive training as a result of training funds are currently making less than $15 per hour,” said Robert W. Walsh, Commissioner of the SBS. “In addition to raising the salaries and skill sets of these trainees, this funding will also boost the competitiveness of local businesses by increasing employee productivity, which can result in decreased costs, decreased waste and improved customer service.”
Among the eight local employers who were awarded, two of them are from Queens.
American Conveyor, a Ridgewood, Queens-based builder of conveyor systems, which will use a $43,123 Training Funds award, matched by a $40,670 employer contribution, to train 28 employees in manufacturing, repair and maintenance techniques. The program is projected to result in three new hires and average wage increases of four percent for 15 current employees.
Wei, Wei & Co., LLP, a Flushing, Queens-based accounting firm, which will use a $67,575 Training Funds award, was matched by a $39,062 employer contribution. This money will be translated into training 55 employees in accounting and QuickBooks.
This program is projected to result in average wage increase of eight percent for all trainees at Wei, Wei & Co.
Since 2005, New York City has awarded more than $5.6 million to 51 companies to train nearly 3,700 workers, matched by more than $7.3 million in employer contributions.
Information sessions about the application process will be held on August 5 from 9:30-11 a.m. and from 1:30-3 p.m. at 110 William Street, 7th floor, Manhattan. To register, email training@sbs.nyc.gov and specify the morning or afternoon session.
