Work Opportunity Tax Credit
I was reminded today of the Work Opportunity Credit, a federal tax credit that provides a reward for employers that hire employees from targeted groups. Members of targeted groups include Hurricane Katrina employee, Long-term family assistance recipient hired after December 31, 2006, Qualified recipient of Temporary Assistance for Needy Families (TANF), Qualified veteran, Qualified ex-felon, Designated community resident, Vocational rehabilitation referral, Summer youth employee, SNAP recipient, SSI recipient, Unemployed veteran, or Disconnected youth.
It may be worth checking out as many employers have saved significantly by participating. For specific information on the targeted groups and more info on the credit, check out the IRS Work Opportunity Credit page.
About Daryl Phillips, CEcD
I am a professional economic developer. I presently work for communities and companies in developing and implementing workforce and economic development solutions as CEO of Phillips Economic Development Solutions (Phi EDS).
Prior to September 2017, I was the economic development professional who served a community team of elected officials, business people, community leaders and dedicated stakeholders for economic development in Cheatham County, Tennessee (pop. 39,880) and its four towns. During my five-year tenure, I served the team as Cheatham County grew over 1,700 jobs, turned around population declines at the start of this decade into healthy population growth, increased tourism expenditures 20.3% and local tax revenue from tourism 25.4%, grew sales tax revenue 36%, focused on developing the local workforce and was recognized by SmartAsset as having the 9th highest Incoming Investment Index of all the 95 counties in Tennessee.
I am a member of International Economic Development Council, Southern Economic Development Council, Tennessee Economic Development Council and International Council of Shopping Centers.
I have earned the designation of Certified Economic Developer (CEcD) from International Economic Development Council (IEDC), the Economic Development Finance Professional (EDFP) certification from National Development Council and hold a Master of Business Administration from Tennessee Technological University.