Employee Training Incentive Program (ETIP), a refundable tax credit
A credit of 50% of eligible training costs, up to $10,000 per employee. Internship credit: 50% of the stipend, up to $3,000 per intern.
$10,000 per employee maximum. $3,000 per intern. ESD's overview says $5 million in credits are available per year, up to $1 million for internships.
The employer, as a refundable New York tax credit, issued only after approved training is done.
- Skills training: capital investment with a benefit-cost ratio of at least 10:1, and operate mainly in a strategic industry
- Internships: advanced technology, life sciences, software development or clean energy; fewer than 100 employees
- Not eligible: legally required training, licensing training, and several industries including accounting, law, finance, hospitality, restaurants, retail and wholesale