Education

On the FastTrack
Corporate workforce training programs get a boost from speedy state grants

An international medical technology firm, Medtronic, recently used FastTrack funds to expand its Memphis area headquarters.

When Teresa Creasy began exploring options to help finance her growing company’s workforce training program three years ago, she couldn’t believe what little red tape she had to cut through to get state funds.

“People can be intimidated by paperwork, but you don’t have to go through a lengthy process to get the funding you need to train your employees. Tennessee makes it as cut and dry as it gets. Our small company has secured nearly $60,000 in state funds in three years,” says Creasy, who coordinates training for Design Team, a Savannah-based graphic sign manufacturer with 85 employees.

Quick responses to requests and fast decisions on funding are cornerstones of the governor’s FastTrack workforce training grant program. According to Rick Meredith, assistant commissioner of the community development division for the state’s economic and community development department, FastTrack also provides speedy reimbursements for employers to conduct on-the-job training for newly hired employees.

“The reason for the name FastTrack is that by executive order from the governor we have to provide a response within 72 hours once a company makes an inquiry about our program, regardless of whether it’s for infrastructure or training,” says Meredith. “It’s a very flexible system and has been tremendously successful.”

More than 100 companies participate in the FastTrack program, which will provide over $21 million in funding to businesses of all sizes across the state in 2007.

For larger companies like Medtronic, an international medical technology firm employing more than 1,300 people in Tennessee, FastTrack helps during periods of hiring growth. Medtronic most recently used FastTrack job training assistance during an expansion of its Memphis-area headquarters during the years 2003-2005.

Keith Murphy, manager of Medtronic’s global operations finance, says the company has been impressed with the hands-on approach of FastTrack training coordinators and is applying for a new FastTrack grant to help with another upcoming expansion.

“Programs such as FastTrack are the reason that companies like Medtronic continue to grow in Tennessee,” he says. “This growth, in turn, leads to new job opportunities for Tennesseans.”

For Louisiana Pacific, a major manufacturer of building products based in Nashville, FastTrack was part of an attractive recruitment package that led the company to choose Tennessee over North Carolina and Virginia in 2003.

“FastTrack was one of the contributing factors that prompted us to move our corporate headquarters to Tennessee. We’ve been very pleased with the results,” says Mary Cohn, the company’s manager of corporate affairs.

According to Susan Cowden, administrator of employment and workforce development for the state, Tennessee has long been known for its comprehensive workforce development resources. In addition to the FastTrack program, the state is anchored by a solid community college system and the presence of more than 25 Tennessee Technology Centers for technical instruction and career training.

Story by Valerie Pascoe

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