Resolution 120096

..Title Authorizing Council's Committee on Global Opportunities and Creative/Innovative Economy to hold hearings to investigate the establishment of a tax credit and veterans' assistance program that will allow employers to be eligible for a local tax credit upon hiring Veterans of the United States military thereby increasing the profile of a ready workforce in Philadelphia. ..Body WHEREAS, President Obama has signed into law the Vow to Hire Heroes Act in November 2011 whereby employers who hire out of work veterans will receive a tax credit up to $9,600, and veterans would receive additional benefits for education and training; and WHEREAS, The current state of the economy has made it difficult for veterans who are returning from their overseas military service and for whom job training and employer incentives would assist them in re-entering the workforce; and WHEREAS, Veterans returning from overseas military duty will be returning to Philadelphia who are able bodied, responsible and have the ability to be assets to local employers; and WHEREAS, Providing tax credit incentives to employers for hiring veterans would enhance the profile of the City's ready workforce thereby making Philadelphia more attractive to global organizations wanting to establish a presence in the region; and WHEREAS, Philadelphia is home to numerous colleges and universities that would be able to provide necessary training for returning and unemployed veterans to increase their visibility to employers who would benefit from their talent and a tax credit for hiring them; and WHEREAS, Establishing a tax credit for employers who hire veterans will lead to greater job creation in Philadelphia beyond that of veterans through local training facilities and the potential attraction of additional employers; and WHEREAS, The economic success of our City and the hiring of veterans would be beneficial to the Commonwealth and the region in increasing the status of Philadelphia as a globally competitive city; now therefore, RESOLVED, BY THE COUNCIL OF CITY OF PHILADELPHIA, That it hereby authorizes Council's Committee on Global Opportunities and Creative/Innovative Economy to hold hearings to investigate the establishment of a tax credit and veterans' assistance program that will allow employers to be eligible for a local tax credit upon hiring Veterans of the United States military thereby increasing the profile of a ready workforce in Philadelphia. ..End