One of the new laws going into effect in New York this year is targeted to employ more out of work veterans.
New York state now has a tax rebate program for companies that hire an unemployed veteran. It’s worth five percent of the vet’s salary – or 15 percent if the veteran has a service-related disability.
Veterans have unique challenges in finding jobs after they finish their service, like sometimes a stigma from employers, or translating military skills into the civilian economy.
"This is a great opportunity to say, ‘you know what, as an employer I’m willing to take to this risk, see if this veteran is all that and then some. But there’s also a financial gain for me to take that risk,'" said Todd Baxter with the Veterans Outreach Center in Rochester.
James Schmeling, a co-founder of the Institute for Veterans and Military Families at Syracuse University, says veteran hiring programs are good for more than just encouraging companies to hire veterans.
"I think additionally it raises awareness of veteran hiring broadly, because even if businesses don’t take advantage of the tax credit, that they’re hearing about the tax credit and veterans looking for career opportunities is sometimes enough to help them take another look at a veteran," he said.
New York’s hire a veteran program is similar to a federal incentive, which has been attributed to decreasing the number of jobless veterans.
The unemployment rate for recent veterans has historically been higher than the rest of the labor force, but it’s falling closer in line in recent months.
