The New Mexico Economic Development Department’s Job Training Incentive Program (JTIP) board approved $500,427.95 in funding at its November meeting to five companies that will create 78 jobs in New Mexico. The new jobs will average $14.25. In October the board approved $613,839 in funding to eight companies that will create 88 jobs, averaging $16.66. The companies included two recent expansions in the New Mexico Borderplex.
CN Wire Corporation, Santa Teresa – CN Wire is the U.S. affiliate of Turkish company, ER-BAKIR Elektrolitik Bakir Mamulleri. CN Wire’s products include single wire, multi-wire, bunched/stranded wire, tin-plated copper and braid wire. 68 jobs, $298,465
Samson Equipment Inc., Las Cruces – Samson Equipment manufactures and sells weight training equipment to public and private schools and universities in every state in the United States as well as to Mexico, Canada, Japan, Northern Ireland, Bahrain, and other countries. 5 jobs, $33,989
“I want to congratulate these qualified companies from a variety of industries who are using JTIP funds to create well-paying jobs for New Mexicans,” said Economic Development Secretary Jon Barela. “JTIP is an important economic development resource for New Mexican manufacturers, high-tech firms and companies in general to create higher paying jobs and expand their workforce as it helps offset the cost of on-the-job training.”
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. 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 non-retail 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. For more information on JTIP, visit www.goNM.biz.
