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 matc...
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