Federal employees have been getting a boost in their job search after the president announced new incentives to help companies boost hiring.
The federal government said Friday that it would offer a $100,000 incentive to companies with more than 100 full-time jobs in manufacturing, technology and science.
Companies will get $500,000 to $1 million in government incentives if they add 15 or more full- and part-time workers in the next three years.
The $100-million stimulus grant would be available to any company that has 100 full and part time jobs in those industries.
It is not a new program, but the White House said it had expanded it.
The stimulus program has been a boon for companies that are eager to hire, said Paul Piff, director of the Washington-based Institute for Supply Management.
It’s more flexible than a payroll tax credit that is available to most employers, and it doesn’t impose a ceiling on a company’s payroll, which makes it a more attractive option for workers.
Piff said the new $100 million stimulus package is aimed at creating up to 50,000 jobs.
The program will cost an average of $1.3 billion over a three-year period.
The jobs program is one of the Obama administration’s biggest achievements.
It was a cornerstone of President George W. Bush’s economic stimulus, and Republicans have long decried it as a tax break for corporations and big corporations.
The stimulus has been criticized for being too generous to companies that hire large numbers of temporary workers.
The new program was designed to help businesses hire workers, but it also will help create new jobs, said David Stockman, director general of the White the Council of Economic Advisers.
The $100 billion stimulus will go to companies hiring and training workers, he said.
The administration said it expects to offer another $1 billion in stimulus incentives next year, starting next month.
The federal government has also pledged to give $10 billion in grants to the states and to companies, including to the auto industry, to help them recruit and retain more people.
President Obama’s plan to help workers was a major part of his reelection campaign, and many Democrats said it was a victory for the middle class.
Republican lawmakers have complained that the stimulus plan is too generous.
The government has said it will give companies the incentive if they hire at least 25 people in those manufacturing and technology sectors.
The White House, however, said that it will not be giving money directly to companies because it does not expect them to use the money to hire full-timers.