State Treasurer reminds W.Va. skilled workers of Jumpstart Savings Program contest deadline

State Treasurer Riley Moore, this week, issued a reminder that West Virginia tradespeople and vocational students have until December 31 to enter his Office’s contest that will award up to $12,000 deposited in a Jumpstart Savings Account to winners who tell the world what makes them proud to be a West Virginia skilled worker.

“As we approach the contest deadline, I encourage all aspiring and established trade professionals in West Virginia to take advantage of this opportunity to receive a financial boost to your career savings by sharing what makes you proud to be a part of our state’s essential blue-collar workforce,” Treasurer Moore said.

To enter the contest, visit www.wvjumpstart.com/contest and in 250 words or less answer the question, “What makes you proud to be a West Virginia skilled worker?” Contestants will also submit one original digital picture that best captures their answer.

Up to 20 people, based on the number of entries, will be selected to receive $2,000 deposited into a Jumpstart Savings Account. Out of those winners, one lucky individual will be randomly selected to receive an additional $10,000 grand prize – for a total of $12,000 to be deposited in their Jumpstart account.

To be eligible, entrants must:

  • Be a legal West Virginia resident who is 18 years or older as of Sept. 26, 2023.
  • Be currently enrolled in or have completed one of the following programs: 1.) community and technical school; 2.) Advanced Career Education Center (ACE); 3.) License 35 school; 4.) state or federally approved apprenticeship; 5.) high school technical education; or 6.) a licensure or certification program approved as a qualifying profession by the Jumpstart Savings Program governing Board.
  • Agree to the Contest Official Rules. 

Entries must be received by the end of the day on Dec. 31.

“Prior to being elected State Treasurer, I worked as a contract welder in West Virginia, where I experienced firsthand how expensive it is to start a business and pursue a career in the trades,” Treasurer Moore said. “This inspired me to launch the nation’s first Jumpstart Savings Program to remove barriers for West Virginia tradespeople and entrepreneurs by providing a new way to save for their career expenses.”

The Jumpstart Savings Program allows individuals who wish to pursue a wide range of skilled vocations or trades to save money and enjoy certain state income tax benefits. Individuals can make up to $25,000 per year in contributions to a Jumpstart Savings Account that will be eligible for a state income tax deduction.

Jumpstart Savings Account funds can be used to pay for tools, equipment, supplies, and other business costs, and those funds used on qualified expenses can also be eligible for additional state tax benefits.

The program also provides an “Ignite Incentive” for certain individuals who open accounts. The state provides a $100 seed contribution when an account’s designated beneficiary is under the age of 18 or when an account is opened within 180 days of the designated beneficiary enrolling in a qualifying apprenticeship or educational program.

The Jumpstart Savings Program is overseen by the Board of Trustees of the West Virginia College and Jumpstart Savings Programs, which has partnered with United Bank to administer the program.

More information about the program and contest are available at www.wvjumpstart.com.

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