What does the required training for the InternshipsVA Matching Grant entail?
Our Employer's Guide to High-Quality Internships webinar is a one-hour training offered twice per month. If you are unable to attend either of the monthly training sessions, please contact your Regional Internship Manager who can meet with you directly for a one-on-one training session.
The training includes the benefits of internships to companies, students, and higher education institutions, the key characteristics of a high-quality internship, how to develop an effective internship position description, and how the matching grant program and reimbursement process works.
Once an employer completes the required training, you do not need to attend the training again in order to apply for the matching grant in the future.
Can I hire any student using the InternshipsVA Matching Grant funding?
No, the state budget language for the Commonwealth Innovative Internship Program and Fund restricts use of the funding to supporting organizations hiring students enrolled in a post-secondary education program in Virginia. This includes both public and private 2- and 4-year institutions as well as full-time and part-time enrolled students.
Students who have completed their high school diploma or GED and are planning to enroll in a post-secondary education program the following semester are also eligible for InternshipsVA Matching Grant funding. The funding cannot be applied to interns who have completed their undergraduate degree.
Full-time and part-time students are eligible to be hired, as long as they are currently enrolled at a Virginia college or university.
What are other limitations to the funding?
- The matching grant program only reimburses employers for 50% of an intern’s wages. Stipends for housing/transportation/meals and other types of compensation are not covered by the matching grant but may be available through the student’s college or university. They should contact their career services department for more information.
- We will not reimburse employers for 1099 interns as they would be considered self-employed, self-directed individuals which is contradictory to the intent of an internship. Interns qualifying for the matching grant must be hired on the applying entity’s payrol or you can use a staffing agency. The matching grant program will not reimburse any portion of staffing agency fees. Click here for the Fair Labor Standards Act rules on independent contractors.
- Employers may not use InternshipsVA Matching Grant funding for interns that are also being supported by another state-funded program.
- In-person, hybrid, and remote internships are all eligible for the matching grants program, as long as the other program requirements are met.
- There is currently no limit to the number of years that a company can apply for the matching grant program.
How many interns can be supported by the matching grant program?
Employers eligible for the matching grant program can be reimbursed for up to 10 interns per fiscal year (fiscal year = July 1 – June 30). Employers cannot have more interns than they have employees at a time; employers must maintain an intern-to-staff ratio of at least 1:1 (e.g., a company with five employees on its payroll can receive funding for up to five interns at a time). If you wish to hire more than 10 interns or exceed your ratio, you are welcome to do so without additional InternshipsVA Matching Grant funding support.
Why does reimbursement take place after the internship has concluded?
The budget language passed by the General Assembly included requirements for the matching grant program, including establishing a minimum and maximum number of hours for internships that would qualify for the funding. VEDP’s incentives are performance-based, meaning we give funding to companies after they have met the criteria to qualify for our financial support, so the InternshipsVA matching grant is designed to be paid out with the same philosophy. This eliminates the need to claw back the funds from the employer if the internship does not reach the minimum thresholds.
Employers can shorten or segment their internships so that the reimbursement timing better fits the employers’ needs as long as each internship is at least 120 hours and 8 weeks and meets other basic requirements.
Would employers still qualify for reimbursement if the student quits or is let go before the 120 hour and 8-week thresholds are met?
Since the intent of the program is to support employers providing a high-quality work experience for a student intern, VEDP will reimburse 50% of the wages for internships that last at least 120 hours and 8 weeks as those are the thresholds for qualifying for the funding. However, we know there will be instances where an intern leaves earlier at no fault of the employer. We will address these instances on a case-by-case basis. Please contact the internshipsva [at] vedp.org (Matching Grant Program Administrator).
Would a company need to include InternshipsVA matching grants as income subject to taxation?
This is a federal tax issue so please check with the IRS or your tax advisor as to the taxability of the InternshipsVA grants. Please note that Virginia aligns with the Federal tax code and if the grant is taxable at the federal level, it is taxable at the state level.
Can I adjust the internship information (start date, end date, wage, etc.) for my intern(s) after my application has been submitted and approved?
Yes, as long as the adjustments still meet the program requirements. Please email the internshipsva [at] vedp.org (Matching Grant Program Administrator) to relay any changes, and we will update your record in our system.
Why is the Internship Information required on the application and what if I do not have this information firmed up yet?
In order to ensure the planned internship meets the criteria to be eligible for the matching grant funding, we need gather preliminary internship Information in advance of the internship. We also will use the information provided to build out your account record on our end and track your estimated budget and timeline for reimbursement. If you are unable to estimate the role, timeframe, wage, and hours for the internship, you may wait to apply until closer to the internship start date when those details will be available. Please contact your Regional Internship Manager for guidance on how to develop your internship program.