Cabinet for Economic Development
BLUEGRASS STATE SKILLS CORPORATION (“BSSC”) INCREASES AVAILABILITY OF FUNDS FOR BUSINESS AND INDUSTRY TRAINING

Press Release Date:  Friday, March 30, 2007  
Contact Information:  Janet Williamson, (502) 564-7670  


BLUEGRASS STATE SKILLS CORPORATION (“BSSC”) INCREASES AVAILABILITY OF FUNDS FOR BUSINESS AND INDUSTRY TRAINING

 

The Cabinet for Economic Development today announced that the Bluegrass State Skills Corporation (BSSC) approved revised grant-in-aid training guidelines in response to its increased capacity to fund training grants.  These changes, which are effective immediately, are in response to the recent passage of HB536, commonly referred to as the Jobs Retention Act.  HB536 provides BSSC with up to $8,000,000 in additional funds for the remainder of this biennium, which is through June 30, 2008, to be used to fund training grants for eligible companies.

 

Highlights of the guideline changes include:

  • Increased maximum grant size from a flat $25,000 to a range of $50,000 to $200,000, based on size of company;
  • Increased maximum grant amount for training consortia from $75,000 to $200,000;
  • Increased allowable per trainee costs for higher waged jobs; and
  • Simplified scoring criteria for determining eligibility. 

The increased funding will allow BSSC to be more responsive to business and industry training needs.  The Cabinet for Economic Development has scheduled eight workshops around the state, beginning in April, to educate businesses and industries about BSSC funding.  The programs are free and participation is encouraged. 

 

In additional actions at its March 30, 2007 meeting, the BSSC board of directors approved 43 grant-in-aid applications valued at over $1.1 million and gave final approval to three Skills Training Investment Credit requests.

 

The primary purpose of the BSSC is to improve and promote employment opportunities for the residents of the Commonwealth of Kentucky through agreements for skills training programs.  The BSSC funds workforce training programs for Kentucky’s businesses and industries through grants-in-aid and a tax credit program.  Eligible companies are reimbursed or receive tax credits for up to 50 percent of their eligible training costs.

 

For further information about BSSC, its programs, and the scheduled workshops, visit the Cabinet for Economic Development’s website at www.thinkkentucky.com/bssc or call Robert Curry, Executive Director, at 502-564-2021.

 

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The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2006 totaled more than $3.4 billion with the creation of over 18,200 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at www.thinkkentucky.com.