The question is whether this is a one-time event or a commitment to continuous training. If it is the former then the benefit will tail off over time. If they are committing to continuous training then it could be an interesting paradigm. They would be actually investing in engineering as a resource. Imagine that!
This is good for the Organization and the engineers. Its been a common problem across electronics industry of continuous learning and training. Since the engineers are directly involved in project deliveries, they hardly get time to get trained in something new and interesting.Although they would always want to. Training engineers must be organization goal every year.