20 Miss. Code. R. 201-2-2.8 - Allowable Use of Funds
MS Works Funds may only be used for immediate training needs for the net jobs created and retained. Requirements for Use of Funds:
A. Not more than five hundred thousand
dollars ($500,000) may be awarded annually for the training needs of any one
employer.
B. Project cycles run for
a maximum of 36 months, beginning with the date of the first hire or, in the
case of retention or reskilling projects, the application date. After 36
months, the project must be closed, unless an extension is granted.
AccelerateMS may recommend a longer performance period for a project at the
time AccelerateMS is making a commitment to a project.
C. MS Works Funds should be used as part of
an overall workforce training funding plan that maximizes the value of
workforce funds available from other sources, including but not limited to
local, state, or federal sources. Applicants must disclose state or federal
funds sought or awarded for workforce training.
D. Eligible projects must meet critical
training needs of the Benefitting Business to train new or existing employees
in skills necessary for the operation of the business.
1. MS Works Fund grants shall be available
for, but not limited to high growth industry sectors as designated by
MDA.
2. These funds shall place a
special emphasis and priority on skill enhancement and related assessments such
as nationally recognized credentials and certifications.
3. Subsidized On-the-Job training for new and
existing employees, hiring of instructors, apprenticeships, train-the-trainer
expenses, customized training, and similar expenses approved by AccelerateMS
are eligible for MS Works funding.
4. Priority for training shall be given to
improving the skills of unemployed and underemployed individuals.
5. Training in operational strategies to
improve efficiency of business operations connected to an expansion is
allowed.
6. MS Works grants may be
used for Lean Manufacturing training, only to match the contribution to the
cost of such training made by the company or group of companies.
7. Educational training including, but not
limited to: workplace literacy, basic skills, soft skills, and English as a
second language may be included as a portion of the training plan.
8. Local workforce delivery coordination and
outreach may only be initiated by AccelerateMS based on specific needs of the
office.
E. Training
Providers may request administrative cost recovery and AccelerateMS may approve
on a case-by-case basis. Administrative costs will be capped at two percent
(2%) but may be negotiated up to a maximum of five percent (5%) based on the
justifiable costs associated with each project.
F. AccelerateMS will take wage rates into
consideration when making a determination on the amount of grant funds made
available to the Benefitting Business. Higher wage rates are a factor in
Mississippi's recruitment of industries and as such will be a factor in the
determination of how MS Works Funds are allocated.
Notes
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