"This initiative is about keeping doors open in the workforce, creating economic stability for small businesses and making sure the economy remains accessible to workers. To qualify, small- and medium-sized businesses with 500 or fewer employees must create new, full-time positions that pay at least $55,000 a year with benefits. Under the program, the county would subsidize half of a new hire's wages for the first three months, capped at the equivalent of a $65,000 annual salary."
"Employers could pay higher wages using their own funds and would be required to keep the newly created position for at least one year. There are no restrictions on job type. County staff estimates the program could spur the creation of up to 200 new positions. San Mateo County's unemployment rate is about 3.5% among the lowest in California but that still represents roughly 14,900 unemployed residents, according to the California Employment Development Department."
San Mateo County approved at least $2 million to launch the Workforce Entry & Economic Growth Initiative to link recent graduates and other job seekers with local businesses. The program will subsidize wages for new hires entering or reentering the workforce as a response to economic shifts, rising living costs, AI-driven hiring challenges, tariffs and inflation affecting small businesses. Eligible employers with 500 or fewer employees must create new full-time positions paying at least $55,000 with benefits. The county will cover half of wages for the first three months, capped at a $65,000 equivalent, with a one-year retention requirement and an estimated creation of up to 200 positions amid a 3.5% county unemployment rate.
Read at www.mercurynews.com
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