hello

February 12, 2008 - Bob Caron, Director of Business Development at WALLACE Training and Recovery Company, was guest speaker at the February meeting of the Union and Towns Employer Committee. He gave an informative presentation about how businesses can benefit from Georgia’s retraining tax credit.

In 1994, in an effort to improve competitiveness of Georgia’s existing businesses, the State of Georgia introduced a tax incentive to encourage workforce development by helping companies offset the cost of training employees.

Qualified training includes newly implemented technology, newly installed equipment, software implementation and upgrades, total quality management, ISO 9000 standards, and self-directed work teams. Companies can receive up to 50% of direct training costs, up to a maximum of 50% of their total Georgia income tax liability, and up to $500 per approved training program per employee per year. Credits are retroactive and unused credit can be carried forward for up to 10 years.

Eligible employees must be Georgia residents, continuously employed with the company for a minimum of 16 weeks, work a minimum of 25 hours per week, and be in the group of first-line employees and immediate supervisors (executives are not eligible).

Retraining may be provided by any qualified source, including in-house company training, training vendors, e-learning, technical colleges, and universities.