U.S. Dept. of Labor Awards ICF $16 Million in IT/Cyber Training Services

Rhea-AI Summary

ICF (NASDAQ:ICFI) has secured two agreements worth an estimated $16 million to provide IT and cybersecurity workforce development services through the U.S. Department of Labor's H-1B One Workforce Grant Program. The first is a four-year grant of $8.6 million aimed at training workers for high-skilled IT positions in Virginia. The second, a $7 million subcontract, focuses on creating employment opportunities for veterans in Fort Gordon, Georgia. These contracts aim to strengthen the workforce in critical sectors.

Positive

• Awarded two contracts totaling $16 million, enhancing revenue prospects.
• First agreement of $8.6 million focuses on workforce training in Virginia, targeting high-demand IT positions.
• Second subcontract of $7 million supports veteran job training in Fort Gordon, Georgia, addressing a vital workforce need.

Negative

• None.

FAIRFAX, Va., April 12, 2021 /PRNewswire/ -- ICF (NASDAQ:ICFI), a global consulting and digital services provider, was recently awarded two agreements with an estimated value of $16 million to provide IT and cybersecurity workforce development services under the U.S. Department of Labor's H-1B One Workforce Grant Program. This program invests in training the current and future workforce for careers in critical industries such as IT, advanced manufacturing and transportation. 

The first agreement is a four-year grant valued at $8.6 million. ICF will lead the development and implementation of a new program to provide dynamic workforce strategies to train workers and jobseekers for middle- to high-skilled occupations in IT and cybersecurity throughout the Commonwealth of Virginia. 

The second agreement is a four-year subcontract valued at $7 million. ICF will work with the Augusta Economic Development Authority and area employers to develop similar work-based learning and employment opportunities in IT and cybersecurity for veterans and their spouses in the Fort Gordon, Georgia area. 

"The One Workforce program will significantly enhance the skills and knowledge of the workforce in the critical and high-growth IT and cybersecurity sectors," said Andy Zehe, ICF senior vice president and justice, workforce and community development lead. "We look forward to coordinating with our regional partners to build career pathways that will contribute to economic growth and strengthen the American workforce." 

ICF approaches complex workforce challenges with customized application of innovative and sustainable approaches. ICF's workforce development services include job readiness assessment, work-based learning, labor market analysis and community engagement across the IT, cybersecurity, energy, hospitality, manufacturing and transportation sectors.

Read more about ICF's workforce development services.

About ICF
ICF is a global consulting services company with over 7,000 full- and part-time employees, but we are not your typical consultants. At ICF, business analysts and policy specialists work together with digital strategists, data scientists and creatives. We combine unmatched industry expertise with cutting-edge engagement capabilities to help organizations solve their most complex challenges. Since 1969, public and private sector clients have worked with ICF to navigate change and shape the future. Learn more at icf.com.

Caution Concerning Forward-looking Statements
Statements that are not historical facts and involve known and unknown risks and uncertainties are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements may concern our current expectations about our future results, plans, operations and prospects and involve certain risks, including those related to the government contracting industry generally; our particular business, including our dependence on contracts with U.S. federal government agencies; our ability to acquire and successfully integrate businesses; and the effects of the novel coronavirus disease (COVID-19) and related federal, state and local government actions and reactions on the health of our staff and that of our clients, the continuity of our and our clients' operations, our results of operations and our outlook. These and other factors that could cause our actual results to differ from those indicated in forward-looking statements THAT are included in the "Risk Factors" section of our securities filings with the Securities and Exchange Commission. The forward-looking statements included herein are only made as of the date hereof, and we specifically disclaim any obligation to update these statements in the future.

Contact: Lauren Dyke, lauren.dyke@ICF.com, +1.571.373.5577

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SOURCE ICF

FAQ

What are the agreements ICF received from the U.S. Department of Labor?

ICF has received two agreements totaling $16 million for IT and cybersecurity workforce development services under the H-1B One Workforce Grant Program.

How much is the first agreement awarded to ICF?

The first agreement is a four-year grant valued at $8.6 million.

What is the focus of ICF's second agreement?

The second agreement is a four-year subcontract valued at $7 million, focusing on developing job opportunities for veterans and their spouses in Fort Gordon, Georgia.

When was the press release about ICF's agreements published?

The press release was published on April 12, 2021.

How does ICF plan to use the funds from the agreements?

ICF plans to use the funds to develop workforce strategies and training programs in IT and cybersecurity sectors.