We write today to ask the Legislature to provide robust funding for the Job Training Incentive Program (JTIP), one of our critical job-creation tools. We are job creators, representing companies from across the state that have utilized JTIP to expand and add jobs for people across New Mexico. We represent a broad array of industries, from advanced manufacturing and artificial intelligence to background screening and value-added agriculture.
With the help of JTIP, companies like ours are able to hire and train new employees by offsetting training costs. In the last year alone, companies like Descartes Labs, UbiQD, PreCheck, Meow Wolf and Vitality Works have all used JTIP to create new jobs and ramp up growth – right here in New Mexico. Without a robustly funded JTIP program, companies like ours would lose opportunities to create new jobs and would have fewer opportunities to grow in our state.
JTIP is helping companies that are right here in New Mexico. Seventy-five percent of all JTIP recipients are companies already located in New Mexico, of which 2/3 are home-grown New Mexico companies – only a quarter of the companies using JTIP are companies recruited to New Mexico. While this program also helps recruit companies from around the country and the world to our state, its primary beneficiaries are local companies and the hard-working people of New Mexico.
As it stands, the budget passed by the House of Representatives cuts funding for JTIP from $12 million to $9 million. This decrease would have a depressing effect on job creation across New Mexico. In the last year alone, the JTIP fund of $12 million was fully committed within 6 months and helped create over 1,700 new jobs. Without full funding, the $9 million currently allocated would likely be exhausted within a few months, leaving companies without one of the most crucial job-creation tools for the remainder of the year.
We urge the Senate to stand up for jobs by fully funding our economic development tools that make it possible for companies to grow and expand in New Mexico. With the help of the Legislature, companies like ours can continue to thrive in New Mexico, while providing impactful job creation for families across the state.