Photo credit AerSale via NMEDD
December 15th, 2023 – Fourteen New Mexico companies have been approved for funding through the New Mexico Economic Development Department’s Job Training Incentive Program (JTIP) for November and December of 2023, Acting Cabinet Secretary Jon Clark announced. Eight companies were approved for training funds in November and six others in December.
Companies seeking training funds are located throughout New Mexico – Albuquerque, Belen, Bloomfield, Las Cruces, Los Alamos, Roswell, Sunland Park, and Taos. Most of these companies are bringing high-tech, high-paying careers to their communities and may train up to 395 workers.
JTIP funding is disbursed to approved companies on a reimbursement basis, after all training is complete. Businesses have a certain amount of time to hire employees and spend the training grants or the award is surrendered, going back to EDD for future JTIP utilization. The program has been instrumental in bringing, keeping, and growing New Mexico companies while also providing strong encouragement for companies to hire and train New Mexicans in key positions.
The final awards for calendar year 2023 brings the annual total of 44 companies assisted in 11 New Mexico counties. Depending on the employment market and the pace of hiring, the JTIP money can support as many as 1,273 job trainees.
“In the past year, the JTIP program has reached all corners of New Mexico,” Acting EDD Secretary Clark said. “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.”
November awards are available to cover partial training expenses for 250 newly hired trainees, 32 interns, and 39 incumbent employees through JTIP’s Step Up program. The eight companies whose applications have been approved are eligible for a total of up to$3,852,642.
AerSale, Inc., Roswell, 49 trainees at an average wage of $26.22 and 30 interns at an average wage of $20.79. Award total is $1,104,589.60. AerSale, Inc. provides support services to the airline industry and specializes in the lease and sale of mid-life aircraft, while also offering comprehensive material solutions and asset management services.
Arcosa Wind Towers, Belen, 115 trainees at an average wage of $23.47 for a total award of $1,522,180.80. Arcosa is a provider of infrastructure-related products and solutions with leading positions in construction, energy, and transportation markets.
Calgon Carbon Corporation, Bloomfield, approximately 39 trainees through the Step Up program for a total of $33,943.70. Calgon Carbon is an acknowledged leader – over 80 years in production – in the activated carbon and reactivation industry for many liquid and vapor phase applications. The company has created cutting-edge purification systems for drinking water, wastewater, odor control, pollution abatement, and a variety of other industrial and commercial manufacturing processes.
ErgoTech Systems, Inc., Los Alamos, 3 trainees at an average wage of $45.20 for a total award of $78,807.48. ErgoTech was founded with a mission to develop software to be used by engineers with little or no programming or software development skills to build applications for collecting data from and monitoring industrial equipment and machinery and display the values from these processes and machines on user interfaces.
Infinity Labs, LLC, Albuquerque, 12 trainees at an average wage of $65.68 for a total award of $445,702. While primarily serving the defense industry with software development, modeling and simulation, and general research and development, Infinity is also developing commercial products for market utilizing similar technologies but targeted towards commercial applications.
KiloNewton, LLC, Albuquerque, 4 trainees at an average wage of $38.75 and 2 interns at an average wage of $25. Total approved award is $121,890. KiloNewton provides technical and engineering analysis and software design for the renewable energy sector. The company provides a mixture of consulting and software R&D, primarily focused on the optimization of large-scale solar, wind, and renewable technology.
LoadPath, LLC, Albuquerque, 5 trainees at an average wage of $54.03 for a total award of $156,014.36. LoadPath specializes in the development and delivery of advanced engineering products and services. The company’s core capabilities focus on the design, analysis, testing, and manufacturing of aerospace structural systems and components, particularly those critical to the launch vehicle and satellite community.
Stampede Meat, Inc., Sunland Park, 62 trainees at an average wage of $14.70 for a total award of $389,514. Stampede Meat Inc. is a leading provider of portion-controlled protein solutions. The company creates seasoned and prepared value-added meats, portion cuts, and a variety of fully cooked meats.
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