At the San Diego Workforce Partnership, we are redefining workforce development. We believe in the power and dignity of work and understand that an integrated approach is the key to empowering individuals to attain durable self-sufficiency and businesses to create a stable workforce.
The future of work is upon us. We are re-imagining workforce development to keep pace with a rapidly changing, skills-based economy in order to achieve the highest levels of personal and economic impact for our community.
Workforce development isn’t confined to a search for a job or talent. It’s baked into the community, the classroom, and the home as we recognize the importance of what comes before, after and with securing a great career and solving a business need.
Everyone deserves the opportunity to succeed. And when more people have access to the resources they need to do so, our economy and community are stronger.
Income Share Agreements
One key example of innovation is the Workforce Income Share Agreement (ISA) Fund. The Workforce Partnership is the first workforce development board to provide access to education through ISAs.
An ISA is an alternative to student loans that we believe shares risk between students and educators. This allows the Workforce Partnership to provide access to high quality training programs that help people get the skills San Diego businesses are looking for.
In an ISA, we provide students with tuition funding and career services, and in exchange, they agree to pay a fixed percentage of their income for a fixed period of time. Unlike with a student loan, graduates only make ISA payments when they’re employed and earning more than the minimum income threshold.
ISAs are not new. But as a public-facing organization, the Workforce Partnership has put together an opportunity that provides maximum consumer protections while still supporting long term financial sustainability of the fund.
The fund will support an estimated 500 people over the next three years. In the first year, the program is tailored to those who are interested in a career in the technology industry. In future years, we hope to offer similar, ISA-based programs for other fields of study. We also encourage all potential applicants to weigh the features and benefits of ISAs against other potential financing options available to them.
