Workforce Investment Act for ESOP Feasibility

The Department of Labor's Employment and Training Administration released Training and Employment Notice 09-12 on layoff aversion. It notes that Rapid Response funding under the Workforce Investment Act can be used for "Conducting prefeasibility or company valuation studies to determine the possibility for employee buyouts or Employee Stock Ownership Plans (ESOPs), or more commonly, the sustainability of the company with new products, retooled production processes, or new customers and markets." The DOL indicates that the Manufacturing Extension Partnership will support this effort.