In 2023, the New Mexico Economic Development Department’s Job Training Incentive Program (JTIP) assisted a total of 44 companies in 11 counties. Late in the year, 14 of these companies were approved for funding through the JTIP. These companies are spread across New Mexico, in cities such as Albuquerque, Belen, Bloomfield, Las Cruces, Los Alamos, Roswell, Sunland Park, and Taos.

These companies are primarily expected to create high-tech, high-paying jobs in their communities, providing training for as many as 395 workers. The JTIP funding is dispensed to approved companies through a reimbursement process once all training is complete. If the companies do not hire employees and utilize the training grants within a specified period, the award is relinquished and returned to the EDD for future JTIP utilization.

The program has significantly contributed to the attraction, retention, and growth of companies in New Mexico, while also providing strong encouragement for these companies to hire and train residents in key positions. The JTIP awards for 2023 saw assistance provided to 44 companies situated across 11 New Mexico counties. Depending on the employment market and the pace of hiring, this funding could potentially support as many as 1,273 job trainees.

Acting EDD Secretary Jon Clark expressed that “these grants give businesses the opportunity to train workers for higher-paying jobs and expand their workforce with new hires. JTIP is helping to boost economic security for New Mexico families.

The JTIP awards distributed in November will cover partial training expenses for 250 newly hired trainees, 32 interns, and 39 incumbent employees through the Step Up program. Eight companies that applied were approved in November, eligible for a total of up to $3.85 million. In December, six more companies were approved for JTIP funding, potentially training as many as 74 employees with funds of up to $591,516.