NM: Job Training Incentive Program Awards Two New Mexico Companies With Funding to Help Hire and Train New Employees
2 Feb, 2011
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The Job Training Incentive Program (JTIP) board approved $62,117 in funding at its January meeting to help create seven new jobs, in both rural and metro New Mexico areas, with an average wage of $23 an hour.
"JTIP is an excellent program that assists companies in expanding and creating jobs for New Mexicans,” said Economic Development Department Cabinet Secretary Jon Barela, whose department administers the JTIP program. “We are honored to support companies in their ability to hire and train New Mexicans while ensuring that taxpayers see a return on their investment.”
This month's JTIP recipients are:
IntelliCyt Corporation- Albuquerque, NM- develops and markets innovative high throughput flow cytometry products for life sciences research and drug discovery- $51,997- 3 new jobs.
JBC International LLC- Chaparral, NM- a recycling business that purchases industrial plastic waste, processes it for industrial applications and sells it to regional buyers. $10,120- 4 jobs.
The Job Training Incentive Program (JTIP) 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.
To qualify, new or expanding companies must either create a product in New Mexico, or provide a non-retail service with 50 percent of the company’s customer and 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 continuous year at any time prior to being hired.
For more information on JTIP, visit www.goNM.biz