WASHINGTON – U.S. Secretary of Labor Elaine L. Chao today announced the release of $1,925,643 to assist approximately 852 trade-affected dislocated workers in Iowa. The funding, provided through the Trade Adjustment Assistance (TAA) program, will enable the state to provide training to workers certified as eligible to receive TAA benefits.

“These Iowans whose jobs have been impacted by trade can benefit from skills training and other assistance as they prepare for new careers,” said Secretary Chao. “This $1.9 million provided under the Trade Adjustment Assistance program will provide eligible workers with up to two years of skills training, income support and other help to find new jobs.”

Through the Health Coverage Tax Credit, the government will pay up to 65 percent of health insurance premiums for qualified coverage. Also, workers 50 years of age or older who become re-employed quickly may qualify and receive a wage subsidy of up to $10,000 under the Alternative TAA program in lieu of training.

Congress allocates approximately $220 million annually for TAA training. Each year, the Department of Labor’s Employment and Training Administration allocates 75 percent of available TAA funds, or $165 million, on Oct. 1. The remaining 25 percent of funds is reserved for qualifying states experiencing large, unexpected layoffs during the year. States may request additional money from the reserve account after they have spent at least 50 percent of the TAA funds initially allocated.

Iowa received a fiscal year 2006 base allocation of $3,261,331 to train trade-affected workers and cover administration costs.

The Iowa Department of Workforce Development will be the recipient of the funds being released today.

Additional information on the TAA program and other Department of Labor employment and training programs can be found at www.doleta.gov.