The Job Training Incentive Program board approved $280,452 in funds for a Hobbs ethanol developer and Albuquerque software company during its January meeting to help create 21 new jobs in New Mexico with an average wage of nearly $30 an hour.
“We are pleased to be assisting Joule and CPFD Software; one is a rural energy employer and the other a high-tech industry company,” Economic Development Secretary Jon Barela said in a news release. “Our goal is for these industries to continue to thrive in our state and JTIP will be an important tool in helping these kinds of high-wage employers.”
Joule Unlimited Technologies Inc. of Hobbs will get $263,542.58 for 20 jobs.
The company is building the first phase of its commercial ethanol plant in Hobbs to demonstrate a trademark technology. The plant will be built on land owned by the state and leased to Joule for 25 years, the Economic Development Department said. The plant will initially encompass five acres of active production with the potential to scale up to encompass the 1,200 acres already secured. The plant will produce ethanol at first and later add diesel to their production.
CPFD Software LLC of Albuquerque will get $17,001 for one job.
The six-year-old company develops and distributes computer-aided engineering software products for industrial applications – automotive, chemical, petrochemical and power generation industries. These require a heavily laden particle flow field using the company’s computational-particle-fluid-dynamics, or CPFD. CPFD software is used by organizations such as General Motors, Ford, Caterpillar, Mazda, ExxonMobil, Dow Chemicals, Sony, Idemitsu Kosan and Sandia National Laboratories.
The Job Training Incentive Program reimburses qualified economic-based companies for a portion of training costs associated with job creation. The program provides for classroom or on-the-job training, reimbursing an expanding or relocating business for up to 75 percent of a trainee’s wages for as long as six months.
