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State moves some unemployment trust investments to boost training funds; 'Why Relocate' gets recurring funding
Summary
Department of Workforce Services officials said recent legislation shifted state unemployment trust investments into a higher‑yield pool to increase training and apprenticeship funds. Staff also described the Why Relocate recruitment initiative, which received roughly $1.7 million per biennium to target health care and construction recruitment.
Workforce program administrator Holly M. Simon told the Council that recent legislation changed where part of the state unemployment investments are held, moving a portion into “pool A” to seek higher investment income that will feed training grants, internships and apprenticeship funding. “That legislation did pass; that money has been moved into pool A and... it may take a little bit of time for us to see the return on those investments,” Simon said.
Simon said reallocations follow federally required formulas for the unemployment compensation trust fund and are intended to increase funds available to employers and the department’s Business Training and Support Unit. The department emphasized the change is administrative and that earned returns will be used to support employer‑facing training programs.
Simon also updated the Council on Why Relocate, an initiative that now incorporates Wyoming Grown. She said the Legislature approved roughly $1.7 million every two years to scale recruitment and retention work focused first on health care and construction occupations. “Our new funding is coming July 1 and so we’ve got a framework to really launch something in healthcare and construction first,” Simon said.
Council members discussed recruitment targets and timing; staff said occupation projections and measurable targets are still being finalized as part of an ongoing workstream.
