Workforce Incentives: The Overlooked Advantage in Location Decisions
A skilled workforce remains one of the most important drivers of site selection. Yet too often, companies underestimate the value of workforce incentives. These programs not only support hiring but also reduce training costs and improve retention.
Types of Workforce Incentives
- Customized Training Grants: Funding for job-specific skills programs.
- On-the-Job Training Subsidies: Wage reimbursements for new hires in training.
- Partnerships with Technical Schools: Programs that align curricula with employer needs.
Why They Matter
A community’s ability to deliver skilled workers quickly can shorten ramp-up times for new facilities. For companies expanding in competitive industries, workforce incentives may be as valuable as tax savings.
A Case in Point
One manufacturer we supported received more than $1 million in workforce training funds. The result was a well-trained team in place on day one, allowing the facility to meet production targets without delay.
The Bottom Line
Incentives tied to workforce development are not secondary. They are central to the long-term success of a new facility.
