Iowa Industrial New Jobs Training Program (260E)
The Iowa Industrial New Jobs Training (260E) program assists businesses creating new positions with new employee training. Eligible businesses may be new to Iowa, expanding the Iowa workforce or relocating to the state.
Administered by Iowa's 15 community colleges and financed through bonds sold by the colleges.
Depending upon the number of new jobs pledged and the starting wages for the new jobs, an award amount is calculated and a training plan developed.
The award amount is paid back and bonds retired by the business diverting 1.5% or 3% (dependent upon wage thresholds) of gross payroll, from the Iowa state withholding taxes generated by the new positions.
Training is available at essentially no cost since bonds are retired with dollars that otherwise would have been paid to the state as withholding taxes.
Participants may be eligible for reimbursement up to 50% of the approved award amount for on-the-job training.
Participants may also be eligible for a corporate new jobs tax credit if the company’s existing Iowa employee base is increased by at least 10%.