620.474. Basic industry retraining program, purpose, funding--qualified industries--rules and regulations, factors to be considered. - Missouri Statutes

Basic industry retraining program, purpose, funding--qualifiedindustries--rules and regulations, factors to be considered.

620.474. 1. The department shall establish a basic industryretraining program, the purpose of which is to provide assistance forindustries in Missouri for the retraining and upgrading of employees'skills which are required to support new investment. Such program shall beoperated with appropriations made by the general assembly from the fund.

2. Assistance under the basic industry retraining program may be madeavailable for industries in Missouri which make new investments without thecreation of new employment.

3. The department shall issue rules and regulations governing theawarding of funds administered through the basic industry retraining fund.When promulgating these rules and regulations, the department shallconsider such factors as the number of jobs in jeopardy of being lost ifretraining does not occur, the amount of private sector investment in newfacilities and equipment, the ratio of jobs retained versus investment, thecost of normal, ongoing training required for the industry, the economicneed of the affected community, and the importance of the industry to theeconomic development of Missouri.

(L. 1986 S.B. 628 § 3, A.L. 2001 S.B. 500)