| Volume II | Issue 1 |
| February 2007 | |
A Fresh Look at PEOs
ETP has a Redesigned Website
Projects approved at the December and January Meetings
Contact Us
Kim Smith
1100 J Street, 4th Floor
Sacramento, CA 95814
916.327.5330
www.etp.ca.gov
Annual Report
At its December 2006 meeting, the Panel released it's 2005/06 Annual Report, which outlined its performance during that fiscal year -- a milestone year for ETP. Not only was 2005/06 the 24th anniversary of the program, it was also the year ETP surpassed the $1 billion mark in job training funds that have assisted over 65,000 California employers in successfully training over 660,000 workers for good paying jobs.
Fiscal year 2005-06 yielded 224 new training contracts, totaling over $86 million earmarked to train over 79,000 California workers -- an average of a $1,089 investment per trainee. Over $23 million went to economic development projects that resulted in California business retention, expansion and job creation.
The manufacturing industry received almost 70 percent of the training funds in 2005/06, and small businesses continued to receive their fair share of contracts - 73 percent of all companies participating were small, with 55 percent employing100 or fewer workers. Also, the average hourly wage of trainees continued to grow, with unemployed workers trained and placed into jobs earning an average of $11.11 per hour, and incumbent workers/retrainees earning an average of $32.68 per hour.
ETP's success over the years can be attributed to labor and management's joint collaboration to support the creation and retention of high-wage, high-skilled jobs in California industries that have the greatest economic impact and return on investment to the State. ETP looks forward to the future and the opportunity to provide training funds to industries that are economic drivers for California - e.g., manufacturing, aerospace and defense, advanced technology, construction, biotechnology, multimedia/entertainment, healthcare, agriculture and small business.
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