US Labor Department Announces Approximately $98.5 Million In Grants Through Workforce Innovation Fund
The US Department of Labor just announced the availability of $98.5 million in funds for the Workforce Innovation Fund. Lead applicants - state workforce agencies, local Workforce Investment Boards, and federally recognized tribes and tribal organizations - are invited to submit applications by March 22, 2012. The Notice of Funding Availability and Solicitation for Grant Applications states that partnerships are extremely encouraged and required (pg. 6) and, at the advice of valuable input, grants will be accepted in three categories: 1) new and untested ideas, 2) promising ideas, and 3) adapting proven ideas (pg. 7).
Those interested in the ongoing conversation about Pay for Success, the Administration’s proposal for piloting social impact bonds in the US, will note that the Department of Labor anticipates $20 million in additional funds through a separate solicitation for Pay for Success projects, an experiment with performance-based program models (pg. 5).
Below please find the official news release from the Department of Labor.