Facts About WOTC
Key Facts
We have driven meaningful progress over the years
40 million certifications issued since 1996
$202 billion estimated savings over a 10-year period
$17.6 billion estimated federal savings annually
$4.7 billion estimated state savings annually
$7,600 estimated annual net federal savings per certification
$17,700 estimated total net savings per certification
$1,100 credit (maximum value to the employer for the base program)
190,000 veterans were certified in FY23, a 52% increase over FY15
How Much Does WOTC Save?
WOTC saved federal and state governments a net estimated $20.2 billion in annual entitlement spending in FY2022- $202 billion over 10 years . The average WOTC hire tenure is 2.3 years.
How Does WOTC Influence Hiring?
Employers who participate incorporate IRS and DOL WOTC screening forms into their job application process to help identify candidates who are potentially eligible for one or more WOTC categories. Hiring managers incorporate this information into the hiring decision. State Workforce Agencies (SWAs) then determine if the individual qualifies as WOTC eligible and issues a certification indicating eligibility.
