In terms of economy, some regions of the United States are not doing as well as the rest of the country. The government is trying to bring these areas at par with the regions that are better off. For this purpose, a project by the name of Workforce Innovation in Regional Economic Development, or WIRED, has been started. WIRED helps areas with struggling economies improve, by providing training to the workers.
In a recent speech, Assistant U.S. Secretary of Labor for Employment and Training Emily DeRocco said, “Strong regional economies that are built on maximizing talent and innovation will be crucial to the nation’s success in the global economy.” This principle is the driving force behind WIRED.
WIRED plans to spend up to 5 million dollars on Arkansas Unemployment Grant. Arkansas is one of the regions that are not doing too well economically, and have a high rate of Unemployment. Initially, Arkansas will be given a gift of 500,000 dollars, to be spent on training of workers. The rest will be given them after a regional implementation plan has been made.
When announcing this grant for Arkansas, U. S. Secretary of Labor Elaine Chao said, “Investing in area workforces through this collaborative approach will boost entire regions’ economic vitality. This regional economic development strategy transcends political boundaries to better leverage a region’s assets to help workers succeed in the 21st century worldwide economy.”
WIRED is focusing on economically under-developed regions in Puerto Rico, Northern Alabama, Northern Indiana, the Arkansas Valley Tri-State Area, Southeastern Michigan, Appalachian Ohio, the Rio Grande Valley in Texas Southern Tennessee, Southwestern Connecticut, Southwestern Arkansas, Southeastern Wisconsin, the Wasatch Range in Utah, Northern California and the Arkansas/Mississippi Delta.
In the first phase of WIRED, $195 million has been distributed in thirteen regions throughout America. In the second phase, another $65 million will be distributed, based on a competition involving state governors.
Did you receive Arkansas unemployment benefits last year?
Anyone in the state who received unemployment benefits in 2006 was mailed an Arkansas 1099 statement from the state unemployment office this January. This is because the unemployment benefit payments are subject to tax.
Since the forms have been mailed, you should have gotten your form. Even if you didn’t get benefits for very long, you were still supposed to receive a 1099. Contact the Arkansas Department of Labor if you did not get it. It is an important form for you to have because any deductions from this income are listed and the total amount paid to you is recorded. Use this form as a guide when you file your taxes.
Other people who may receive 1099 forms are freelance workers or independent contractors. If taxes are not withheld when payment is issued, records of the amount paid should be kept. Work performed for a company that is compensated is all taxable, and therefore must be reported. The W-2 is used for regular employees that have taxes withheld from their paychecks throughout the year. Even if you worked for part of 2006 and received a W-2, you will still need a 1099 if you were paid unemployment benefits. Independent contractors need to report income profits regardless of whether or not 1099 statements are issued.
Many states offer the option of having taxes withheld from their unemployment benefits. While this is true, more often than not people choose not to have taxes withheld. It can be easy to forget that this income is taxable, and so the Arkansas Department of labor was sure to send 1099 statements to all individuals who claimed benefits.
With the new swell of support for Democrats in the nation’s capitol, the U.S. Department of Labor is working to improve the economy in troubled regions, including the Arkansas Delta regions of Arkansas and Mississippi.
Part of that effort includes a recent Arkansas unemployment grant of up to $5 million to train workers in the Arkansas Delta region. According to U. S. Secretary of Labor Elaine Chao, “Investing in area workforces through this collaborative approach will boost entire regions’ economic vitality.” Secretary of Labor Chao adds, “This regional economic development strategy transcends political boundaries to better leverage a region’s assets to help workers succeed in the 21st century worldwide economy.”
The grant includes an initial award of $500,000. After a regional implementation plan is completed, the region will then have access to an additional $4.5 million grant.
The Arkansas unemployment grant, aimed at easing Arkansas unemployment in the troubled Arkansas Delta region, which includes areas in the states of Arkansas and Mississippi. The Workforce Innovation in Regional Economic Development program, or WIRED, is an effort by the U.S. Labor Department’s Employment and Training Administration to help struggling regional economies in several areas.
According to Assistant U.S. Secretary of Labor for Employment and Training Emily DeRocco, “Strong regional economies that are built on maximizing talent and innovation will be crucial to the nation’s success in the global economy.”
The U. S. Department of Labor recently announced that thousands of Arkansas workers would be among those to benefit from a grant of up to $65 million. Under the WIRED program, the region will use the grant to improve Arkansas unemployment and the area economy by training employees. WIRED works to integrate economic and workforce development activities and demonstrate that talent development can create economic transformation in regional economies across the United States. The first round of WIRED grants in 2005 awarded $195 million to 13 regions. The grants are awarded based on a competition involving the state governors. The WIRED initiative has already demonstrated its success.