OLYMPIA — Beginning Saturday, employers can receive a tax credit for hiring unemployed veterans.
The state Legislature implemented this program with the goal of reducing veteran unemployment by 30 percent.
“Veterans offer unique skills and leadership abilities that translate directly into a variety of jobs in our state,” said Sen. Joe Fain, R-Auburn, who serves as Senate Majority Floor Leader.
“With veterans doing so much for our country, it is also our responsibility to help them build a bridge back to civilian life.”
Washington is home to more than 340,000 working-age veterans who face a 6.3 percent unemployment rate, higher than the United States average of 5.4 percent, Fain said.
The legislation provides a credit of 20 percent of the hired veteran’s total wages and benefits on an employer’s business-and-occupation or public-utilities tax.
To qualify the veteran must have been honorably discharged, unemployed for more than 30 days and hired into a full-time position held for at least six months.
The program will end June 30, 2022, when lawmakers can review the outcomes and determine whether to extend the incentive.