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Mississippi State Workforce Investment Board

Mississippi State Workforce Investment Board. Eric Clark, Ph.D. Executive Director Mississippi Community College Board December 11, 2013. Importance of WF-CTE.

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Mississippi State Workforce Investment Board

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  1. Mississippi State Workforce Investment Board Eric Clark, Ph.D. Executive Director Mississippi Community College Board December 11, 2013

  2. Importance of WF-CTE • Workforce, Career, and Technical Education is absolutely essential in addressing the critical need for skilled workers in the 21st century economy. • A trained workforce is the key to attracting new industries to Mississippi, as well as to retaining and growing our existing industries.

  3. Wet Funds • 2010-2013: .15 % of 1 % of the taxable wages (the first $14,000) are deducted for Workforce Education from the Unemployment Insurance Trust Fund (UI). • 2013-2014: ($8,000,000 Governor’s one-time transfer) .22% of 1% of the taxable wages on the first $14,000 • Funds are collected by the Mississippi Department of Employment Security. • Legislatively required to carry over $2 million each year.

  4. Wet Fund Transfers

  5. Total Project dollars spent

  6. fy 2013 accomplishments • 862Total Training Projects Completed • 26,403Total Classes • 489,658Total Hours of Workforce Instruction • 261,712Training Units (Duplicated Trainees) • 561 Companies/Businesses Served • Average Cost Per Project: $16,678 • Average Cost Per (duplicated) Trainee: $54.94

  7. FY13 Trainees by Location

  8. top 5 fy13 training categories (BY TRAINING)

  9. top 5 fy13 training categories (BY TRAINEES)

  10. RETURN ON INVESTMENT • Average ROI is 4.5: That is, for every dollar of WET Fund investment there is a return of $3.50 • 60 % of those receiving training are expected to stay employed in Mississippi • $1,300 net average wage increase • 60 % of income available for income and sales tax • 60 % expected to stay employed, they are expected to work an average of 20 addition years • ROI is based on sales and income tax, for an approximate rate of 9% • Annual estimated income and sales tax on net wage increase: $3,556,689 • 20 year estimated income and sales tax on net wage increase: $71,133,784 Analyses provided by nSPARC

  11. $8 Million One-time Governor Transferthree Priorities

  12. 1. COLLABORATIVE CONSORTIA GRANTS • The fundamental priorities for the award of the grant funds are to expand use of multi-college consortia so that all community and junior colleges participate in a consortium. Consortia proposals are evaluated to determine funding. • Mississippi Corridor Consortium • Expand the Mississippi Corridor Consortium to include Coahoma, East Mississippi, Itawamba, Northeast Mississippi, and Northwest Mississippi Community Colleges; • Crossroads Consortium • Develop a consortium including East Central, Hinds, Holmes, Meridian, and Mississippi Delta Community Colleges; • South Mississippi Alliance for Workforce Solutions • Develop a southern consortium including Jones County Junior College, Copiah-Lincoln, Mississippi Gulf Coast, Pearl River, and Southwest Mississippi Community Colleges.

  13. 2. Equipment • Colleges have not received equipment funding since 2008. • Equipment request will be closely evaluated and approvals to purchases must align with programs and training delivered at each college. • The one-time $8,000,000 “Governor’s Transfer” into the WET Fund has allowed us some unique opportunities to strengthen programs and training delivery.  • The MCCB strongly encourages colleges to partner with business and industry on the use and purchase of equipment, and with the local secondary or post-secondary vocational centers for the use of equipment and classrooms. • Each college has up to a total of $289,298.00 to purchase equipment.

  14. 3. Yokohama Tire Corporation • At the request of MDA, MCCB committed $1,950,000 of the one-time transfer funding to the Yokohama Tire Corporation over a 5 year period. • These funds will be used for the screenings and assessments, pre-employment training, and post-employment training needed to meet the need for qualified workers for Yokohama. • MCCB continues to support projects serving new businesses locating within the state as identified by the Mississippi Development Authority.

  15. QUESTIONS?

  16. CONTACT Eric Clark, Ph.D. Executive Director Mississippi Community College Board 3825 Ridgewood Road Jackson, Mississippi 39205 Phone: (601) 432-6684 eclark@mccb.edu

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