A measure that will provide $8 million for Workforce Enhancement Training at community colleges received Gov. Phil Bryant’s signature Wednesday.
The colleges will use the WET fund money to provide training for jobs and skills that employers have identified as being in demand.
“For Mississippi to compete in a global marketplace, we must have a skilled workforce,” Bryant said. “This legislation helps maintain the integrity of the Workforce Enhancement Training Fund without increasing the burden on employers and will ensure that training is available for jobs that are in demand in our state.”
The measure will generate the additional job training money for one year by reducing the unemployment tax while increasing the WET Fund tax by an equivalent amount. The net effect on employers, who pay the taxes, will be zero. The decrease in unemployment taxes will be further offset by more than $14 million in fraudulently obtained unemployment benefits MDES has recovered.
“The $8 million dollars secured from the WET fund will have an immediate benefit for Mississippi employers who depend on community colleges for workforce training,” Dr. Clyde Muse, president of Hinds Community College said.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info