With the Iraq war’s final withdrawal of troops in December 2011, the timetable for combat ending in Afghanistan pushed up to 2013, and the recent Department of Defense announcement that it would downsize by about 50,000 Army soldiers and 20,000 Marines in the coming years, veterans’ unemployment, which already has been a problem, could see an increase. In fact, a recent Connecticut Post article cited a Congressional report that found the rate of Connecticut veterans’ unemployment was nearly twice that of non-veterans, around 15% compared to between 8-9% for non-veterans.
So, what programs exist in Connecticut to encourage businesses to hire veterans? In late 2011, both Congress and Connecticut’s legislature enacted laws to expand or create tax credits for businesses that hire veterans. The federal law provides a tax credit for businesses that hire veterans who have been unemployed for at least four weeks or who are receiving Supplemental Nutrition Assistance Program (SNAP) benefits. A larger credit is given to businesses that hire veterans who are unemployed for six months or longer or have a service-connected disability. The state law provides a tax credit (sections 19-22 of the new law) for businesses who hire an unemployed veteran.
Since 2005, the Connecticut Department of Labor’s (DOL’s) Office for Veterans Workforce Development has been responsible for assisting Connecticut veterans and businesses to connect on the job front, including administering grant programs for businesses that hire veterans (including grants covering 50% of training costs to businesses that hire veterans).
More information is available at DOL’s website or by visiting: http://www.ctvets.org/
