Businesses across Tees Valley are to benefit from the launch of a
new programme set to super-charge apprenticeships across the
region.
Tees Valley's Apprenticeship Levy Matching Service will use
unspent apprenticeship levy funding from major employers to
create more apprenticeship opportunities and develop the region's
talent pipeline.
Under the service, Tees Valley Combined Authority will match
companies with unspent funds to local businesses to cover
apprenticeship training and assessment costs.
Major global names including the BBC, Amazon and bp are in the
first wave of organisations to sign up to provide financial
support to firms in Tees Valley.
SMEs are now being encouraged to apply for
the funds so they can recruit and create apprenticeships
for their businesses.
Tees Valley Mayor Ben Houchen said: "We've spent the last seven
years attracting big investors like BP and Amazon to our region
and separately, worked with the BBC to encourage businesses to
apply for its levy fund so they can recruit apprentices and
create apprenticeships for their businesses.
“This apprenticeship funding is yet another benefit of getting
big-ticket investors in - supporting our fantastic local
businesses and our local workers.
“The jobs are coming and we are now putting in the work to make
sure local people get the skills to access them. Local businesses
are the lifeblood of our economy and it is fantastic to see this
new investment helping them grow.
Sarah Moors, BBC Head of Apprenticeships said: “The BBC is
delighted to be in a position to transfer our unspent levy to
support SMEs across England and create apprenticeship
opportunities. Using our levy in this way is enabling us to
support the development of new talent for the creative, cultural
and digital sectors, and to help businesses upskill existing
employees.
“Taking on an apprentice creates a positive impact on any
business. It's a fantastic way to grow skills, develop careers
and support your local community. We are proud to support SMEs
with this endeavour.”
Launched in 2017 by the Government, the Apprenticeship Levy is
tax on employers which is used to fund apprenticeship training.
It is payable by all employers with an annual pay bill of more
than £3million at a rate of 0.5% of their total pay bill.
It allows organisations to pay an amount each year towards the
costs of enabling new apprenticeships and upskilling existing
employees.
Organisations generally use their levy to support those that take
up apprenticeships in their own workplaces.
But when that money is not spent, it can be transferred to
businesses who do not have a levy fund themselves to cover the
costs for apprenticeship learning and development.
The launch of Tees Valley's Apprenticeship Levy Matching Service
also follows a recent announcement that Tees Valley will be a
location for a Youth Guarantee Trailblazer.
The programme will provide up to £5million to provide innovative
ways to support people aged 18–21 who are Not in Employment,
Education, or Training (NEET).
Tania Cooper, Tees Valley Business Board Strategic Lead for
Education, Employment and Skills, said: “We warmly welcome this
funding from key organisations, which will provide essential
support in developing apprenticeships across Tees Valley.
“This will not only bring benefits to individuals as they build
their career but also support local businesses in developing a
pipeline for the next generation of talent.”
To find out more and how to apply for funding go here
