Press Release: Workforce Partnership to Advance Financing Focused on Outcomes

SAN DIEGO, CA — The San Diego Workforce Partnership has been awarded $485,000 from Lumina Foundation to advance financing models focused on outcomes in the public workforce development system through income share agreements (ISAs) and better use of data to define quality non-degree credentials. 

An income share agreement is an alternative approach to paying for higher education and training in which students can attend an educational program, then pay for that program over a set amount of time based on their income once they are employed.

The Workforce Partnership’s ISA Fund will support an estimated 500 people over the next three years looking to obtain high quality credentials. The first two cohorts will work toward UC San Diego Extension certificates in digital marketing, Java programming, front-end development or business intelligence.

With this grant, the Workforce Partnership seeks to test, document and amplify good practices for the application of ISAs as innovative workforce training financing models. Additionally, the project seeks to elevate the role ISAs play in connecting education to outcomes-focused approaches for identifying good credentials, fostering data sharing across systems and increasing placements in quality jobs.

The Workforce Partnership believes that ISA models are a transformational tool for workforce development which, when applied in a customer-centric way, can remove barriers to education, provide immersive support and set individuals on a path to durable self-sufficiency by equipping participants with market-responsive credentials, work experience and strong networks.  

To drive systems change, the Workforce Partnership seeks to create a Center of Excellence (COE) model, which can elevate and expand this work to ensure that more individuals who need credentials can afford them and that the credentials they receive are standardized, portable and transferable. Planned components of the COE include establishing a learning community of  forward-thinking workforce boards; completing feasibility studies and experiments; and building a repository of templates, tools and support.

About the San Diego Workforce Partnership
The Workforce Partnership is the leader for innovative workforce solutions in San Diego County. It funds and delivers job training programs that enable all job seekers to develop the skills and knowledge needed for in-demand careers. The Workforce Partnership also provides ongoing labor market research on the region’s workforce trends and key industries. Its vision is to ensure that every business in our region has access to a skilled workforce and every job seeker has access to meaningful employment. For more information, visit workforce.org.

Contact:
Desiree Roughton, (619) 228-2959, desiree@workforce.org