Opportunities & Incentives:

Work Opportunity Tax Credit & Fidelity Bonding Program

The Work Opportunity Tax Credit is a federal tax credit available to employers in Madera County who hire individuals from certain targeted groups that have consistently faced significant barriers to employment. This incentive benefits both the employer and the community by encouraging workforce diversity and facilitating access to jobs for American workers.

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Employers can claim about $2,400 to $9,600 per eligible employee, depending on the target group from which the individual is hired. This credit not only supports Madera County’s businesses in reducing their tax liability but also reinforces the commitment to social responsibility and economic inclusion.

Fidelity Bonding Program

The Fidelity Bonding Program serves as a unique tool for Madera County employers, offering insurance protection against employee dishonesty. This program provides fidelity bonding for the first six months of employment for at-risk job applicants, including those with criminal records or other employment barriers.

The bond coverage, offered at no cost to the employer or the employee, can range from $5,000 to $25,000. By mitigating risks, the Fidelity Bonding Program encourages the hiring of job seekers who are eager to prove themselves as reliable and valuable employees.

Leveraging Both Programs for Your Business

Utilizing both programs can maximize hiring incentives, providing substantial tax benefits for participating businesses while also protecting against potential risks associated with expanding your workforce.

Employers who hire from disadvantaged groups can gain financial advantages and contribute to the community’s growth. The bonding program offers a safety net, ensuring peace of mind when bringing on new team members. Together, these programs form a powerful duo that supports business expansion and inclusive hiring practices in Madera County.

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