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The report covers FY 2024 performance from July 1, 2023 to June 30, 2024, analyzing enrollments, training completions, credential attainment, costs, and earnings outcomes across Virginia’s eligible institutions. Findings include 15,753 participants enrolled, 94% training completion, 69% credential completion among completers, and average WCG participant costs alongside state cost per credential. Methodology examines earnings analysis and median wage movements across high-demand occupational fields.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/new-economy-workforce-credential-grant-annual-report-2024/587207/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/new-economy-workforce-credential-grant-annual-report-2024/587207.png","ImageObject",300,407,{"name":92,"@type":93},"วิน","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-29","2026-10-15",true,{"@type":102,"interactionType":103,"userInteractionCount":39},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What is the purpose of the New Economy Workforce Credential Grant (WCG) Program?","Question",{"text":112,"@type":113},"The WCG Program funds noncredit workforce training in high-demand fields using a pay-for-performance model. It aims to increase both program completion and credential attainment through incentives for institutions and enrollment by Virginia residents.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"What were the key FY 2024 outcomes for training completion and credential attainment?",{"text":117,"@type":113},"For FY 2024, institutions enrolled 15,753 participants and 94% completed training. Among completers, 69% reported earning a credential, and both completion and credential attainment dipped slightly compared with FY 2023.",{"name":119,"@type":110,"acceptedAnswer":120},"How does the report assess earnings and wage changes after program completion?",{"text":121,"@type":113},"The report includes a methodology section and an earnings analysis, examining median wages across occupational fields. It highlights that median annual wages increased in all occupational fields and reports wage patterns by race and ethnicity.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},587207,1792189433,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":39,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":145,"preview_page_count":4},2336475104736,"https://ap-avatar.wpscdn.com/avatar/22000c4c5e0e5b17e70?x-image-process=image/resize,m_fixed,w_180,h_180&k=1786591360781797222","New Economy Workforce Credential Grant Annual Report 2024  \nMarch 2025  \nState Council of Higher Education for Virginia  \nTable of Contents  \nBackground .............................................................................................................................. 1  \nSummary of Findings for FY 2024 ......................................................................................... 1  \nProgram Purpose...................................................................................................................... 2  \nHigh-demand Field and Training Alignment Process........................................................ 2  \nTraining Programs Offered by Eligible Institutions............................................................ 3  \nProgram Requirements and Pay-for-Performance Model ................................................. 4  \nHistory of Funding................................................................................................................... 5  \nEnrollment, Training and Credential Completions and Costs ............................................... 7  \nTraining Offered in High-Demand Occupational Fields ................................................... 7  \nTop Training Programs and Alignment to Annual Job Openings.................................... 9  \nTraining Completion Rates Averaged 94%, while Credential Completion Rates Averaged 69% ......................................................................................................................... 10  \nParticipation and Completion Rates by Institution........................................................... 11  \nStudent Demographics .......................................................................................................... 13  \nEnrollment ............................................................................................................................... 13  \nSuccess ..................................................................................................................................... 14  \nEarnings Outcomes................................................................................................................ 15  \nMethodology ........................................................................................................................... 15  \nEarnings Analysis................................................................................................................... 15  \nMedian Wages Increased in all Occupational Fields ........................................................ 16  \nWages by Race and Ethnicity ............................................................................................... 17  \nAdditional Observations and Next Steps .............................................................................. 18  \nProgram Cap ........................................................................................................................... 18  \nReimbursement Limit Raised to $4,000 Per Credential .................................................... 18  \nMonitoring Legislation in Congress .................................................................................... 19  \nConclusion.............................................................................................................................. 20  \nBACKGROUND  \nA product of the 2016 Session of the General Assembly, the New Economy Workforce Credential Grant (WCG) Program represents the nation’s first pay-for-performance model for funding noncredit workforce training that leads to a credential in a high-demand field. Using a two-pronged approach, the WCG works to increase program completion and credential attainment by incentivizing both the provision of noncredit programs in certain institutions of higher education (IHEs) and enrollment by Virginia residents.  \nThe enabling legislation tasks the State Council of Higher Education for Virginia (SCHEV) with ad","cbCaia2dBcFQnS8f","https://ap.wps.com/l/cbCaia2dBcFQnS8f","pdf",822511,22,"English","# Background\n# Summary of Findings for FY 2024\n## Program Purpose\n## High-demand Field and Training Alignment Process\n## Training Programs Offered by Eligible Institutions\n## Program Requirements and Pay-for-Performance Model\n## History of Funding\n## Enrollment, Training and Credential Completions and Costs\n## Training Offered in High-Demand Occupational Fields\n## Top Training Programs and Alignment to Annual Job Openings\n## Participation and Completion Rates by Institution\n## Student Demographics\n## Success\n## Earnings Outcomes\n## Methodology\n## Earnings Analysis\n## Additional Observations and Next Steps\n## Program Cap\n## Reimbursement Limit Raised to $4,000 Per Credential\n## Monitoring Legislation in Congress\n# Conclusion","[{\"question\":\"What is the purpose of the New Economy Workforce Credential Grant (WCG) Program?\",\"answer\":\"The WCG Program funds noncredit workforce training in high-demand fields using a pay-for-performance model. It aims to increase both program completion and credential attainment through incentives for institutions and enrollment by Virginia residents.\"},{\"question\":\"What were the key FY 2024 outcomes for training completion and credential attainment?\",\"answer\":\"For FY 2024, institutions enrolled 15,753 participants and 94% completed training. Among completers, 69% reported earning a credential, and both completion and credential attainment dipped slightly compared with FY 2023.\"},{\"question\":\"How does the report assess earnings and wage changes after program completion?\",\"answer\":\"The report includes a methodology section and an earnings analysis, examining median wages across occupational fields. It highlights that median annual wages increased in all occupational fields and reports wage patterns by race and ethnicity.\"}]","New Economy Workforce Credential Grant Annual Report 2024 | PDF",1792061036,55]