Governor Northam has announced a new $3 million investment to pilot the Return to Earn Grant Program, which will match payments from eligible small businesses to provide new hires with up to $1,000 to support their transition back into the workforce. While many companies are offering hiring bonuses, the Return to Earn Grant Program will serve businesses with less than 100 employees that may not have the resources to provide this financial support. The initial launch of this program will be funded through Virginia's federal Workforce Innovation and Opportunity Act (WIOA) set aside and additional recovery funds may be allocated based on demand. The Bay Consortium Workforce Development Board (LWDA 13) received $171,156.00 based on our Labor Force.
This initiative will match up to $500 that a qualifying small business pays directly to a new employee hired after May 31, 2021, either as a lump sum or in installments to offset the ongoing costs of child care, transportation, or other barriers to re-employment. Funds will only be reimbursed to businesses for new hires in positions that pay at least $15 per hour and that qualify as W-2 employment, either full-or part-time. To help address workforce shortages in child care, qualifying child care businesses may qualify for up to $500 per new hire without the match requirement.
This funding would be on a reimbursement basis to businesses and the business must enter into a contract with the Bay Consortium Workforce Development Board outlining the hiring bonus and the manner it will be paid along with a reimbursement request.