The New Mexico Economic Development Department’s Job Training Incentive Program (JTIP) board approved $1,304,117 in June to create 195 jobs in New Mexico.
“JTIP continues to be a proven job creator,” said Economic Development Secretary Jon Barela. “It’s great to see these companies using JTIP to expand and improve their workforce which creates good jobs in New Mexico.”
CN Wire Corporation was awarded $150,243, creating 34 additional jobs at its Santa Teresa facility. CN Wire Corporation is the U.S. affiliate of Turkish company, ER-BAKIR Elektrolitik Bakir Mamulleri A.S. CN Wire’s products include single wire, multiwire, bunched/stranded wire, tin-plated copper and braid wire. CN Wire opened its first North American manufacturing facility in Santa Teresa, NM in March 2014.
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 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. For more information on JTIP, visit www.goNM.biz.
