Hundreds of thousands of dollars are up for grabs to help build an even more skilled workforce in El Paso and Teller counties.

The Pikes Peak Workforce Center announced this week it has $220,000 available in federal economic development funds to award to companies across the region who want to increase their staff’s workforce expertise and prevent layoffs.

The program is fully funded by the U.S. Department of Labor’s Workforce Innovation and Opportunity Act, according to a workforce center news release.

“This is an incredible opportunity for our region because for many businesses, what money they have is rolled back into the business. This is money coming from an outside source to pay for training their staff; a lot of small businesses can’t afford to provide this type of training for their staff,” Pikes Peak Workforce Center spokeswoman Becca Tonn said. “This can help the businesses’ bottom lines and help with revenue and profits. … The training is also free for employees, so that is going to improve their career.”

The regional workforce center is one of the first in Colorado to offer this program and has done so for about the last six years. It is based on funding availability, so the center isn’t guaranteed to offer these awards each year, Tonn said.

“That’s why we’re very excited when we do get to offer it. In the past couple of years, we’ve been able to offer (funding awards) twice a year … so it’s a bit like the holidays and playing Santa Claus. It’s very exciting for us to be able to offer this funding to local businesses and nonprofits to benefit them and their employees,” she said.

Employers can select training programs tailored to their unique business and employee needs, such as CNA training or multi-industry systems technician programming, the release said.

A judging panel selects winning companies in the competitive process, using various metrics to rate the applicants. These include company size, how the workforce training will benefit the company and make it more competitive, and how the training will benefit the specific employee, Tonn said.

“So, it’s great, because we are facilitating both sides of it,” she said.

The panel gives preference to in-demand industries like health care, information technology, manufacturing, cybersecurity, hospitality and tourism, and to companies whose training leads to expanded duties for employees.

Employers must specify exactly which training they’re applying for, who will provide it and which employee(s) will receive the training, Tonn said.

Interested employers must attend a virtual session to review the application process this month and submit their applications by Feb. 5.