ALBUQUERQUE, N.M. — The New Mexico Economic Development Department’s Job Training Incentive Program board approved more than $900,000 in training funds for nine companies in March.
The funds are tied to the creation of 47 jobs, according to a news release from the state.
“JTIP continues to be a vital tool in helping New Mexico grow and diversify its private sector,” Economic Development Secretary Jon Barela said in a prepared statement. “JTIP funds play an important role in this effort by assisting New Mexico companies expand their workforce and bring new dollars to the state.”
Receiving the JTIP funding are:
Chaves-Grieves Consulting Engineers, Inc., Albuquerque, three jobs, $23,480, two interns $8,640; CSI Aviation, Inc., Albuquerque, 14 jobs, $205,748.16; Fiore Industries, Inc., Albuquerque, eight jobs, $220,738; Improve Group, Albuquerque, two jobs, $44,105.92; Skorpios Technologies, Inc., Albuquerque, 10 jobs, $334,716; Wood Design, Inc., Santa Fe, three Step Up trainees, $4,750; IntelliCyt Corporation, Albuquerque, two trainees, $15,733; RiskSense, Inc., Albuquerque, two jobs, $25,740; Private Label Select Ltd. Co., Taos, six jobs, $43,450.
The Job Training Incentive Program reimburses qualified economic-base 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. The amount of the award depends on the number and complexity of jobs, the wages paid and the business location.
To qualify, new or expanding companies must either create a product in New Mexico, or provide a nonretail service with 50 percent of the company’s costumer or revenue base outside of the state. The eligible jobs must be full time and year-round. The trainee must be a new hire to the company and have been a New Mexico resident for at least one year at any time prior to being hired.