May 15, 2013
By Neal Tepel
New York, NY – New York City Regional Economic Development Council (REDC)partnering with the New York State Labor Department has developed a program titled 'Work For Success' that provides financial incentives to businesses that hire those formerly incarcerated.
“Each time an individual stays out of jail, it saves taxpayers between $17,000 and $25,000 per year,” said Governor Andrew M. Cuomo. “Businesses can benefit a great deal from hiring the formerly incarcerated with tax credits that help their bottom line and help boost competitiveness.”
Businesses who hire through the program are eligible for up to $2,400 in federal tax credits for each formerly incarcerated individual they hire. In addition, businesses are sent only trained, pre-screened individuals to consider for hire.
In addition to providing tax credits, Work For Success saves businesses the cost of Human Resource services and job skills training by referring only the most qualified and appropriately trained applicants for any open jobs at no cost to business owners.