Michigan Economic Opportunity Fund 2024: GPTF Application For $50 Million Grants Now Open!

LANSING — Michigan Economic Opportunity Fund 2024 Applications For $50 Million in Going PRO Talent Fund Grants Now Open. The Michigan Department of Labor and Economic Opportunity announced that approximately $50 million in funding is available for cycle 1 of the Going PRO Talent Fund.

1. What is The Going PRO Talent Fund (GPTF)?

The Going PRO Talent Fund (GPTF) is a Michigan-based initiative designed to support employers in training, developing, and retaining both current and newly hired employees. Employers must work with local Michigan Works! Agencies (MWAs) to assess their training needs and submit applications through an online system.

2. Deadline to Apply for Michigan Economic Opportunity Fund GPTF 2024:

Applications are now open and Michigan businesses have until 5 p.m. EDT on Oct. 18, 2024, to apply for funding to help them train and upskill their workforce.

Moreover, since its launch, the program has provided training opportunities for more than 175,000 Michigan workers and supported the growth of over 7,100 businesses throughout the state.

3. Benefits of the Michigan Economic Opportunity Fund GPTF:

“The Going PRO Talent Fund gives workers the chance to learn new skills and earn certifications that can really make a difference in their careers, while also helping businesses build the skilled teams they need to grow and compete in today’s fast-changing economy,”

said Susan Corbin, director of LEO.

“By investing in our workforce, we’re not only opening doors for Michiganders but also making sure businesses have the support they need to succeed. It’s about creating a stronger Michigan where all people, businesses, and communities have the educational and economic means to reach their full potential.”

The Going PRO Talent Fund has yielded impressive results for Michigan businesses. For instance, many companies have significantly strengthened their operational capabilities, productivity, and employee retention rates by capitalizing on the fund’s support for skills development.

Moreover, Michigan workers have also reaped the benefits. On average, individuals who complete training programs funded by the Going PRO Talent Fund experience a 9% increase in their hourly wages within six months.

4. Michigan Going PRO Talent Fund Success Story:

“The training supported by the Going PRO Talent Fund was transformative, not just for my career but for my perspective on manufacturing’s potential impact on the world,”

said David Pridmore, Training and Development Specialist at RoMan Manufacturing.

“It’s more than mastering technical skills; it’s about being part of a bigger mission to innovate for a sustainable future. I feel empowered and valued, knowing that my work contributes to critical industries and helps set global standards in energy efficiency and productivity.”

5. Funding Priorities and Eligibility for Going PRO Talent Fund Cycle 1 Application:

Training Programs Supporting Affordable Housing Initiatives:

Projects that aim to develop skills for jobs in the affordable housing sector or that indirectly support affordable housing initiatives.

Increasing Household Access to High-Speed Internet:

Training programs focused on developing skills for jobs in the broadband internet industry or that support digital literacy and skills.

Industry-Recognized Certifications:

Training programs that lead to industry-recognized certifications, particularly those that are in high demand can lead to higher wages.

Prioritization of First-Time Applicants:

Employers who have not received funding in the past two fiscal years will be given priority.

Eligibility to Apply for Economic Opportunity Fund GPTF 2024:

To qualify, employers must:

Operate in Michigan and be current on all federal and state tax obligations.
Demonstrate a need for training that addresses specific skill deficits.
Ensure that training leads to full-time employment or continued employment.

6. Building a Stronger Workforce with GPTF Economic Opportunity Fund:

“The Going PRO Talent Fund is about closing the skills gap and ensuring that Michigan workers are equipped to meet the demands of today’s industries,”

said Stephanie Beckhorn, director of LEO’s Office of Employment and Training.

“By offering targeted training opportunities that lead to industry-recognized credentials, we’re helping people advance their careers and earn higher wages so they can support their families.”

7. Application Process for $50 Million Grants Going PRO Talent Fund:

Grants through the Going PRO Talent Fund are awarded in partnership with Michigan Works! agencies. Therefore, employers are encouraged to work closely with their local Michigan Works! Service Center to identify key training needs and develop customized plans to fill workforce gaps. Additionally, all training programs must result in industry-recognized credentials that enhance workforce mobility and flexibility.

“The Going PRO Talent Fund is a great tool to help businesses develop their existing and future talent in order to stay competitive,”

said Shelly Keene, Executive Director for Michigan Works! West Central.

“Our Businesses Services team works diligently with employers to file comprehensive applications each cycle to apply for these competitive and critical training funds. When employers invest in their teams through programs like this, it improves their skill sets, increases retention, and moves Michigan forward.”

Summing Up: Apply Now! Michigan Going PRO Talent Fund Grants Close Soon

The Michigan Economic Opportunity Fund 2024 is now accepting GPTF applications for up to $50 million in grants! The Going PRO Talent Fund is a key part of LEO’s broader All-Access Michigan approach, aimed at removing barriers and providing opportunities for businesses and workers alike.

Research shows that Michigan provides employment services to more participants than any other state in the Midwest and is #2 in the nation for helping adults get employed. Applications close at 5 p.m. EDT on Oct. 18, 2024.

Businesses interested in applying should contact their local Michigan Works! Service Center. Information can be found at Michigan.gov/MichiganWorks.

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FAQs:

1. What is the Michigan Economic Opportunity Fund?

This fund is designed to support small businesses and entrepreneurs in Michigan, particularly those who are socially and economically disadvantaged. To learn more about the Going PRO Talent Fund and its impact, visit Michigan.gov/TalentFund.