Governor Andrew Cuomo recently signed a bill creating “NY Youth Works,” an inner- city youth employment program. The new law includes $25 million in tax credits for businesses that hire unemployed, disadvantaged youth over the first 6 months of 2012 plus $62 million to support job training programs.

“With 4 out of every 10 inner-city young adults looking for work, our state faces an unemployment crisis within an unemployment crisis that needs to be immediately addressed,” Governor Cuomo said. “Through the NY Youth Works program, we are putting our young people on a career path and preventing a cycle of poverty.” The ultimate goal of the program is to help participants secure permanent, unsubsidized employment, Cuomo said.

NY Youth Works will function in three phases:

• Phase 1: For up to 6 weeks before placement, eligible youth will receive training in work readiness, occupational skills, digital literacy, and other areas.
• Phase 2: Businesses will be offered a $3,000 wage subsidy via tax credits to hire disadvantaged youths for 6 months. Preference will be given to employers in demand industries such as clean energy, healthcare, advanced manufacturing, and conservation. Priority will be given to employers that provide on-site occupational skills training. During Phase 1 and Phase 2, participating youth will receive up to three monthly stipends of $300 to cover costs associated with transitioning into the workplace.
• Phase 3: An additional $1,000 tax credit will be available to employers that retain participating youths for an additional 6 months.

Eligible participants include unemployed, low-income youth aged 16 through 24 who are located in one of the following areas: Albany, Brookhaven, Buffalo, Hempstead, Mount Vernon, New Rochelle, New York City, Rochester, Schenectady, Syracuse, Utica, and Yonkers.