Virginia 2022 Regular Session

Virginia House Bill HB565

Introduced
1/11/22  
Refer
1/11/22  
Report Pass
2/9/22  
Engrossed
2/14/22  
Refer
2/16/22  
Report Pass
2/24/22  
Report Pass
3/2/22  
Engrossed
3/4/22  
Engrossed
3/12/22  
Engrossed
3/12/22  
Enrolled
3/21/22  
Chaptered
4/11/22  

Caption

Advanced Manufacturing Talent Investment Fund; created.

Impact

The introduction of this fund will likely have significant implications for state laws regarding education and workforce investment. By creating a dedicated fund for advanced manufacturing, HB 565 aims to streamline how resources are allocated for training and certification programs. This could lead to increased funding for community colleges and vocational institutions that provide relevant training, supporting both local job markets and the state's economic development strategies. Moreover, the bill sets a long-term goal of increasing the number of new eligible credentials, thereby potentially enhancing the competitiveness of Virginia's workforce.

Summary

House Bill 565 establishes the Advanced Manufacturing Talent Investment Fund, designed to support workforce development in advanced manufacturing sectors. The fund will be managed by the state treasurer, with funds appropriated for the initiative remaining non-reverting each year. The objective is to boost the readiness of graduates for employment in advanced manufacturing fields, which align with growth opportunities identified by the Virginia Economic Development Partnership. This initiative is a response to the increasing demand for skilled workers as technology and production processes evolve.

Sentiment

The sentiment surrounding HB 565 appears to be positive, particularly among stakeholders in the manufacturing and education sectors. Supporters argue that establishing the fund is a proactive step towards preparing future generations for high-demand careers, which is critical for sustaining economic growth in the state. However, there may be some skepticism regarding the fund's management and the accountability of its expenditures, with opponents calling for clearer metrics on its effectiveness and outcomes.

Contention

While generally well-received, notable points of contention regarding HB 565 revolve around the allocation of funds and the specific strategies implemented to improve workforce readiness. Critics have raised concerns about whether the fund will adequately address the diverse needs of industries beyond just advanced manufacturing. Additionally, questions have been raised about how success will be measured and the mechanisms in place to ensure that the fund is effectively utilized in alignment with its intended goals.

Companion Bills

VA SB685

Same As Advanced Manufacturing Talent Investment Fund; created.

Previously Filed As

VA SB685

Advanced Manufacturing Talent Investment Fund; created.

VA HB05041

An Act Concerning Investment In Connecticut's Advanced Manufacturing Businesses.

VA HB544

Workforce Development and Advancement, Department of; changes title of Director to Commissioner.

VA SB436

Workforce Development and Advancement, Department of; changes title of Director to Commissioner.

VA A5687

Establishes Next New Jersey Manufacturing Program to incentivize in-State manufacturing investments and job creation.

VA SB1134

Precision Plastic Manufacturing Grant Fund; created.

VA HB2238

Precision Plastic Manufacturing Grant Fund; created.

VA S4407

Establishes Next New Jersey Manufacturing Program to incentivize in-State manufacturing investments and job creation.

VA HB2540

Lithium-ion Battery Separator Manufacturing Grant Fund; created, definitions.

VA SB1207

Lithium-ion Battery Separator Manufacturing Grant Fund; created, definitions.

Similar Bills

No similar bills found.