Southwest Steel Coil Inc. in Santa Teresa was one of six New Mexico companies to be approved for funding from the New Mexico Development Department’s Job Training Incentive Program (JTIP) Board at its December meeting. The six companies were approved for 24 new jobs and Step-Up training for 24 current employees in New Mexico to receive new skills, with an average wage of $23.30 for the newly created jobs.
“Three years ago, when we first began considering expansion of our facility and work force at our New Mexico operation, MVEDA alerted us to several state incentives tied to job creation. Beginning in 2012, we were able to take advantage of the high wage earner tax credit for several new positions; those incentives will continue for 2013,” said Southwest Steel Coil President Ed Camden. “Recently, we applied for training funds under the Step-Up portion of the JTIP program to help retrain several existing employees. MVEDA not only alerted us to these available funds, but Davin Lopez took the time to travel to Albuquerque to voice his support for our application at the JTIP board meeting. These incentives and MVEDA’s help continue to make New Mexico an attractive place to do business.”
Southwest Steel Coil, a subsidiary of Calstrip Industries, was formed in 2000 and serves as a regional metal service center. Southwest Steel Coil provides commercial and forming steels in custom sizes, with approximately 85 to 90 percent of its processed metal being exported to manufacturing sites in Ciudad Juárez. The company was recently selected as Exporter of the Year for the region, which includes Texas, Louisiana, Oklahoma, Arkansas and New Mexico.
“JTIP and Step-Up provide companies the opportunity to train New Mexico workers, whether currently employed or new hires, for newly created, well-paying positions,” said Economic Development Secretary Jon Barela. “Investing in our work force through JTIP is a wonderful tool for economic development and for New Mexicans.”
JTIP reimburses 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.
