State and TVA Incentives
FastTrack Job Training Assistance Program (FJTAP)
This incentive is available to both new and expanding industry and begins with a company developing a training plan including the number of people to be hired, types of skills required and types of training needed. The plan is developed in conjunction with the FastTrack staff and is designed to be customizable and flexible. Companies will track costs associated with implementation of the training program, then submit to the state for reimbursement.
Traditional training and reimbursement may include:
- Classroom instruction.
- On-the-job training.
- Vendor training from the actual manufacturer of a piece of industrial equipment.
- System support for certain types of plant-wide or company-wide applications.
- Development and coordination of instructional materials and training programs.
- Travel related to training.
Job Based Training Reimbursement (JBT)
A potentially faster program for reimbursement of training costs, companies may seek reimbursement from the state of Tennessee once a job creation commitment and cost per job is established. In order to qualify, companies must work with ECD to reach a contractual agreement which determines.
- The cost per job and the total commitment of jobs.
- Once agreed upon with ECD, companies can seek reimbursement of 50% of the cost per job within the first 90 days after the job is created and maintained. The remaining 50% can be claimed 180 days after the job is created and maintained.
- The company must agree to provide documentation, including the number of jobs created.
- Multi-year contracts between a company and ECD can be reached to accommodate multi-year job creation projects.
- If the total commitment of jobs is reached, companies may seek the entire training reimbursement allocation through JBT.
FastTrack Infrastructure Development Program
Local communities that apply to ECD with a goal of improving public infrastructure in order to create new jobs and business investment may be eligible to receive FastTrack Infrastructure Development Program (FIDP) funds. With some exceptions, applications must be for specific projects and must be tied to a company commitment to create or retain a defined number of jobs. Qualifying projects must involve companies engaging in manufacturing or other economic activities beneficial to the state of Tennessee. Companies for whom more than 50% of the product or service is involved in the manufacture of products for export are also eligible. FIDP grants require local community matching funds calculated along a varying scale based on a community’s ability to pay.