Title
Joint Resolution to enter into an agreement with Horwitz & Associates, Inc. (Incumbent Worker Training Grant).
Staff Summary
• The Illinois Department of Commerce and Economic Opportunity received a waiver until June 30, 2009 from the Department of Labor to permit local workforce areas to designate a portion of their Workforce Investment Act (WIA) grant funds to conduct incumbent worker training programs to industries targeted to have the highest growth within a local area.
• The Lake County Workforce Investment Board modified the Lake County WIA grant to permit the use of local funds to train incumbent workers in the following industry sectors: manufacturing; health care; transportation, warehousing, & logistics; technology; finance & insurance; and construction.
• Incumbent workers are defined as an individual who has an employment relationship with an employer and who receives upgrade training to increase his/her skills in an occupation in which he/she is already employed or training to prepare the worker for entry into a new occupation for that employer.
• In response to a press release, Horwitz & Associates, Inc. expressed interest in the incumbent worker training program. Horwitz & Associates, Inc. located in Riverwoods, has been in business for 38 years and employs 40 full time employees in the retail Securities Broker/Dealer business which provides financial services to the general public.
• After consultation with Horwitz & Associates, Inc. a training curriculum was prepared to provide training to seven (7) employees for a total of ten (10) training hours per person to meet the annual compliance requirements of the Securities and Exchange Commission (SEC), regulated by the Financial Industry Regulatory Authority, Inc.(FINRA)
• The State’s policy requires that an employer with 50 or less employees provide10% of the cost of the training. The policy also states that employee wages & fringe benefits can be used to off-set the employer match without the employer having to pay additional funds out of pocket. The total cost of training is $2,100. Lake County Workforce Development will reimburse $2,100 and the company will provide employee hourly wages of an additional $210 to show for their portion of the match. Cost per is employee $300.00 for 10 hours of training for each employee.
Body
RESOULTION
WHEREAS, in accordance with the Illinois Department of Commerce and Economic Opportunity Policy Letter #05-11 Incumbent Worker Training, the state has received a waiver until June 30, 2009 from the Department of Labor to allow local Workforce Investment Act grant funds to be used to conduct incumbent worker training; and
WHEREAS, the Lake County Workforce Investment Board has modified Lake County’s Workforce Investment Act grant to permit incumbent worker training; and
WHEREAS, the Lake County Workforce Development Department wishes to enter into an agreement with Horwitz & Associates, Inc. for the purpose of conducting incumbent worker training for 7 Horwitz & Associates, Inc. workers; and
NOW, THEREFORE, BE IT RESOLVED, by this County Board of Lake County, Illinois, that the Lake County Workforce Development Department is hereby authorized to enter into an Agreement with Horwitz & Associates, Inc. in the amount of $2,100 for the purpose of training 7 incumbent workers charging the costs thereof to account #750-4042030-72680-000-000-000-Y2008.
DATED at Waukegan, Illinois, on this 14th day of October A.D., 2008.