What Is the Return on Investment for Public Workforce Programs? An Analysis of WIA and TAA in Virginia

Decreasing funding and devolution have put public workforce programs under constant scrutiny by federal, state, and local officials wanting to get the most for their investment. Besides asking whether invested dollars are yielding a return, policy makers want to know under what conditions those returns are maximized and which program components have the most influence. Using Return on Investment (ROI) and regression analysis to examine two of Virginia’s publicly funded programs, I find that ROI can be positive under the right circumstances. Further, participation in training as a component improves the outcome. Obtaining a credential for that training yields an even higher ROI and certain credentials yield the highest returns. However, results are differentiated by training type, credential type, and program. Results here suggest that even in the current era wherein streamlining and cuts are the new normal, strategic investment of scarce workforce dollars can potentially yield real returns