Funding update for Innovative Workforce Incentive Program
As the State of Ohio responds to budget shortfalls resulting from the coronavirus (COVID-19) pandemic, funding for the Innovative Workforce Incentive Program (IWIP) has been eliminated. The state has, however, maintained $4 million to reimburse schools for the cost of industry-recognized credentials for all students.
The Ohio Department of Education, along with other state agencies, had to reduce expenditures through the remaining two months of the fiscal year. The General Revenue Fund spending authority for the Department of Education was reduced by $355.5 million.
Although budget reductions will eliminate the Innovative Workforce Incentive Program payments and start-up grants, schools still may receive a share of the $4 million in reimbursement funds for industry-recognized credentials earned by students.