Businesses in Albany and other cities can now become eligible for $4,000 in tax credits for hiring local youth.
The Youth Works Program, a new program created by Governor Andrew Cuomo to hire unemployed, disadvantaged youth, will provide tax credits to businesses that hire local high school students to work in their businesses.
"With unemployment at over 40 percent among youth in our inner cities, New York must stand up and make sure our young people are a central part of our state's economic recovery," Governor Cuomo said. "To rebuild New York, we must invest in the next generation of New Yorkers and give our young people opportunities to grow and succeed. This program will bring together government and the private sector to join forces and make a lasting impact on families, communities, and our state’s economy."
This employment program can subsidize employment costs for small businesses, making it possible for them to afford to hire staff that they might not otherwise be able to afford or offset their overall business expenses.
Students who participate in the program will also be motivated to keep their jobs; students who receive training and take positions with local businesses will get money to go toward college educations as long as they stay employed.
To be eligible for tax credits you must get certified by the NYS Department of Labor by June 1, 2012. It's quick and easy to apply for certification. Simply access the online application by clicking the link here. Once you enroll, eligible youths will be referred to you for hire.
The Central Avenue Business Improvement District will also host a training session in late February with NYS Department of Labor reps to discuss how to take advantage of this program. Interested in hearing more information: Call Molly at 462-4300 or email her at molly@centralbid.com for more information about how to participate.
