CAWD has enhanced business programs to better serve small, minority, and woman-owned companies (SMWBs), especially those with 100 or fewer employees. These businesses are significant in number and over time can play an increased role in job creation. Yet many don’t receive incentives and resources offered to big business to help them grow and add more jobs.
Two changes have been implemented. First, Catalyst 2020 was developed to fund in-house training for a company’s current employees. To give small businesses a boost in the application process, fields have been added to identify SMWBs. If checked, additional points are awarded in the scoring system, increasing the likelihood of further review.
Second, on-the-job training historically reimburses companies 50% of wages paid during training for new hires. We have increased it to 75% for SMWBs. By increasing financial support, these companies can hold on to existing working capital necessary to fulfill their growth ambitions.
If you know of small businesses who might benefit from Catalyst 2020 or OJT, refer them to Kimberly.Wheeler@wakegov.com.