260E/260F Funding
SCC CBIZ is your partner in helping your business achieve it's goals.
Our number one job is to help you be successful through investing in your workforce. Let SCC help you connect with funding to assist you with your training initiatives.
260F
The Iowa Jobs Training Program (260F) provides job training services to current employees
of eligible
businesses that are located in Iowa. Job training services are defined, as any training
needed to enhance
the performance of a business' employees.
The 260F Program is administered by Iowa Workforce Development and services are provided
by Iowa’s
15 Community Colleges. Each community college works with eligible businesses to assess
training
needs, determine funds availability and provide training.
The 260F program provides state-funded forgivable loans or grants to Iowa businesses
needing to train
their existing employees. A loan is forgivable if a business completes its training
program and trains a
specified number of employees.
- Must be located in, or relocating to Iowa.
- Must be engaged in interstate or intrastate commerce for the purpose of manufacturing, processing, assembling products, warehousing, wholesaling, or conducting research and development.
- A business cannot have closed or reduced its employment base by more than 20 percent
at any
of its other business sites in Iowa in order to relocate substantially the same operation to
another are of the states. - Employees who will receive training must be currently employed by the business and
the
business must pay Iowa withholding tax for them.
260E
The Industrial New Jobs Training Program provides businesses that are new or are
expanding to the state with new employee training. The program is financed through
bonds sold by Southeastern Community College's Center for Business.
Depending on wages paid, the business then diverts 1.5 or 3 percent of the Iowa state
withholding taxes
generated by the new positions to the community college to retire the bonds. This
structure then allows the training to be available at essentially no cost since the
bonds are
retired with dollars that otherwise would have been paid to the state as withholding
taxes.
In addition to increasing worker productivity and company profitability,
businesses participating in the Iowa Industrial New Jobs Training Program may also
be
eligible a corporate tax credit if Iowa employment is increased by at least 10 percent.
- Must be located in, or relocating to Iowa.
- Must be engaged in interstate or intrastate commerce for the purpose of manufacturing, processing, assembling products, warehousing, wholesaling, or conducting research and development.
- Service-providing businesses must have customers outside of Iowa.
- Cannot have closed or substantially reduced its employment base at any of its other business sites in Iowa in order to relocate substantially the same operation to another area of the state.
Contact Us
Center for Business (CBIZ)
610 North Fourth Street
River Park Place, Suite 220
Burlington, Iowa 52601
Phone: (319) 208-5375
Email: cbiz@scciowa.edu