JTIP creating opportunities in New Mexico
By Rep. Rebecca Dow (R-House District 38)
Deciding when to add new employees can often make or break a small business. While it is exciting to see your business grow, adding new employees can strain the bottom line of any enterprise. Business owners often have to shift resources from other areas of their company to devote time to new hire training, and the onboarding process can lead to a temporary decline in productivity as well as revenue until the trainee is brought up to speed.
The New Mexico Economic Development Department (NMEDD) can help New Mexico business owners with this situation through the Job Training Incentive Program (JTIP). JTIP supports business growth by reimbursing 50 to 75% of employee wages during the training period for newly-created positions. With this assistance, employers can invest the time and resources required to train their new workforce while reducing the impact of these training costs on their businesses.
JTIP is open to new businesses, established resident businesses looking to expand, and out-of-state businesses interested in relocating to New Mexico. Large national companies such as Safelite as well as local businesses like Little Toad Brewery and St. Claire’s Organics in Grant County have used this program to expand their payrolls.
And JTIP is producing results for New Mexico. Since 2011, JTIP has helped create almost 10,000 new jobs in our state. JTIP is opening opportunities in our rural communities, too. Last year, the average rural wage of companies participating in the program was more than $21 an hour. These are the kinds of good-paying jobs that our state needs to keep rural communities thriving.
NMEDD invested a total of $13.7 million in 57 New Mexico businesses through JTIP during fiscal year 2017. So far this year, the state has committed $3.8 million in support, with millions more still available.
If you would like to learn how JTIP can help your business grow, please contact the JTIP staff at the NMEDD. They can answer questions, determine if your business is eligible for the program, and guide you through the proposal process. Patrick Gannon is the Marketing Coordinator for JTIP, and he can be reached at (505) 827-2162. Sara Haring is the JTIP Program Manager, and she can be reached at (505) 827-0249.