The New Mexico Economic Development Department (EDD) approved funding to support up to 1,255 jobs through the Job Training Incentive Program (JTIP) for fiscal year 2023 and is now seeing the highest ever average wage for the program, EDD Cabinet Secretary Alicia J. Keyes announced today.
In total, 72 companies were assisted throughout 21 New Mexico communities. The total amount allocated in FY23 was just over $16 million. JTIP encourages companies to provide high-wage positions, do business in rural or frontier areas, and hire Veterans and recent graduates from New Mexico higher education institutions by offering a greater percentage of reimbursement to the company.
The JTIP-supported wage for trainees under the program hit an average of $27.08 an hour in FY2023, up 8% from a year ago and 28% from four years ago.
“From high-tech to hands-on, New Mexico’s businesses are growing,” Secretary Keyes said. “JTIP and other EDD programs make it easier for these companies to hire new workers and expand operations within our state. Simultaneously, the program assists these businesses in training existing employees so they can learn the needed skills to improve their abilities and earn a higher wage.”
In June, EDD’s JTIP Board approved another $1.3 million for 10 New Mexico companies to hire and train 60 employees and six trainees for the final group of FY23 JTIP awardees. This diverse group of home-grown companies include many that fall within Gov. Michelle Lujan Grisham’s target industries for growth and economic diversification.
JTIP funds cover at least 50% of the cost to train new employees for up to six months. Funds are dispersed after training has been completed and all agreed upon benchmarks are met.
The companies approved for JTIP in June are:
3D Glass Solutions, Inc. (3DGS), Albuquerque, 1 trainee at an average wage of $46.88 for a total amended award of $26,815.36. 3DGS fabricates electronic packages and devices using photo-definable glass-ceramics. 3DGS is a pure-play glass foundry that empowers high-performance electronics using engineered glass to design and manufacture Passive components for next generation wireless and optical communications.
Century Sign Builders (CSB), Albuquerque, 5 trainees at an average wage of $30.05 and 2 interns at an average wage of $19 for a total award of $93,102.60. Century Sign Builders designs, manufactures, and installs interior and exterior signage nationwide. They handle signage from design to installation and guarantee it for the life of the building.
Indica Labs, Inc., Albuquerque, 8 trainees at an average wage of $33.24 and 4 interns at an average wage of $21 for a total award of $189,617.60. Founded in Corrales, the company provides solutions that streamline the image analysis workflow for digital pathology, including HALO and HALO AI for fast, quantitative evaluation of images and HALO Link for collaborative image and data management.
Kairos Power LLC, Albuquerque, 25 trainees at an average wage of $50.70 for a total award of $666,100. Kairos Power is an advanced energy technology and engineering company launched out of a broad research effort at U.S. universities and national laboratories. The company is focused on the development of clean, innovative nuclear technology. The New Mexico facility will conduct non-nuclear testing of technology to utilize low-pressure molten fluoride salt as a coolant in a novel advanced nuclear reactor.
National Water Services, Inc., Santa Fe, 5 trainees at an average wage of $21.20 for a total award of $46,770. The company manufactures, installs, and services FreshPure Waters™ purified water vending systems in 37 states nationally and in Canada.
Pajarito Powder LLC, Albuquerque, 3 trainees at an average wage of $33.39 for a total award of $57,200.96. Pajarito Powder is an established leader in advanced catalyst and catalyst support development in rapidly accelerating clean/green hydrogen energy industries.
Parting Stone, LLC, Santa Fe, 1 trainee at an average wage of $22.55 for a total amended award of $7,216. The company has developed an alternative to cremated remains – a new form of solidified remains that resemble stones. Parting Stone is preparing about 1,000 solidifications annually. Each solidification produces 40 to 60 stones that range in size from small to palm size.
Paseo Pottery, Santa Fe, 2 trainees at an average wage of $23 for a total award of $23,330. Paseo Pottery is a “pottery-powered charity.” 100% of net proceeds from their pottery “experiences,” designed for tourists, are donated to local customer-selected charities each year. Paseo Pottery has donated over $30,000 thus far. The company hosts pottery classes that are taught by volunteers who get to use the studio in exchange for sharing their passion for clay with the community.
Vibrant Corporation, Albuquerque, 9 trainees at an average wage of $37.91 for a total award of $173,264.56. Vibrant Corporation was formed to license PCRT technology (a high-speed automated system called Process Compensated Resonance Testing) for application to new markets. Vibrant’s services support the worldwide aerospace, automotive, and power generation industries, as well as materials laboratories.
Visgence Inc., Las Cruces, 1 trainee at an average wage of $33.43 for a total award of $20,943.96. Visgence’s primary product is B2B software development, network engineering, and electronics prototyping services. Visgence designs and builds networking solutions at every level: national data centers, major campuses, last-mile broadband, and small business.
For more information on the program visit JTIP on the EDD website.
Contact: Bruce Krasnow