Washington Customized Training Program
The Washington Customized Training Program (CTP) was created by the State Legislature in 2006 to provide training assistance to businesses locating new jobs or expanding jobs in the state.
Under the CTP, the State Board for Community and Technical Colleges (SBCTC) pays the costs up front for customized training. After training is completed, the business repays the cost to the SBCTC interest free. Upon completion of training, 25 percent of the full amount is due, and the remaining 75 percent due is spread over 18 months.
After a business makes the initial payment of 25 percent to the SBCTC, they may take a state B&O tax credit equal to half of the amount. As the business pays off the remainder over the 18 month period, the business may continue to take tax credits equal to 50 percent of each repayment amount. Thus, the total tax credit is equal to 50 percent of the cost of the training program.