Black Country Investment is offering firms a bottom-line incentive to take training seriously.
It is pushing a New Workforce Training Grant to assist small to medium sized enterprises.
The money is available until December 2007 after BCI was awarded £1.5 million by the European Social Fund.
Financial support and advice is on offer to eligible companies employing up to 250 people, with an annual turnover of no more than £25 million, or a balance sheet of no more than £17 million.
Unlike many grant schemes, the NWTG covers a broad range of business sectors such as creative industries, engineering design, food and drink, medical technology, tourism and leisure.
All aspects of recruitment, including administration, the selection process, induction and training are eligible.
Grants are subject to a ceiling of £1,000 per trainee or £25,000 per company per application.
A further grant is also available for consultancy aid and this covers up to 40 per cent of the consultant's fee or £250 per day, which ever is lower.
The sum awarded depends on the quality of vacancies created and the content of the training programme, but will not be more than 40 per cent of the total eligible costs.
BCI's employment liaison officer Julie Boardman, said: "We deal with the complete application and approval process in-house, which makes the process short and simple."
Companies can find out more about the NWTG and their eligibility at a special employment law seminar tomorrow at the Mount Hotel, Wolverhampton being organised by BCI in partnership with employment law specialists Peninsula.