Seven of the Eleven Companies Receiving Funding are Manufacturing Based
SANTA FE – The New Mexico Economic Development Department's Job Training Incentive Program (JTIP) Board approved $732,157.60 in funds during its February meeting. The funding will aid in covering the training costs of 55 employees, 33 of the positions funded are high-wage. Of the eleven companies funded seven are high-tech manufacturing based. The average wage of the JTIP-approved positions is $24.86 an hour. The next JTIP Board meeting will be held on March 8, in Santa Fe.
“Encouraging manufacturing based business is important for the state's economy; last year New Mexico's manufacturing sector experienced a 1.6 percent increase in growth,” said Economic Development Secretary Jon Barela. “JTIP is a wonderful program to provide companies an incentive to not only do business here but to also hire New Mexicans.”
This month's JTIP recipients are:
JackRabbit Systems, Inc. – Santa Fe- started out in Santa Fe with automated gallery management software. It migrated to an online travel service provider and now provides services to city and state tourism websites and their local lodging providers throughout the United States and Canada. 7 jobs- $120,279.12
Y-Fab – Albuquerque – is a full service fabrication facility that has the capability to provide full service fabrication of Fiberglass Reinforced Plastic (FRP), carbon steel, and stainless steel piping spools as well as galvanized and stainless steel HVAC. 10 jobs - $185,874.00
Titan Aerospace – Moriarty – was formed in March 2012 and is a start-up manufacturer of solar-powered Unmanned Aerial Vehicles (UAV). Titan Aerospace has developed a unique solar-powered High Altitude Long Endurance (HALE) UAV called the SOLARA 40 that is capable of persistent operation for up to five years. 7 jobs- $ 141,390.00
Martinez and Sons Processing – Las Vegas – the first commercial meat processing operation in Las Vegas. Currently local beef producers travel and average of 520 miles for cattle harvesting purposes. The company will provide meat harvesting services including transport of livestock to the facility, slaughter, processing, customized cuts and delivery of the final product back to the customer within San Miguel, Mora Colfax and Guadalupe Counties. 12 jobs- $72,362.88
P4Q USA – Albuquerque – manufactures products based upon their own designs, as well as per client specification for companies worldwide. In 2007 the company began to manufacture Suntrack, a solar tracking controller, for implementation in solar arrays in many applications. 10 jobs- $59,212.00
National Water Services, Inc. – Santa Fe - was founded in Santa Fe in January of 1991. The company manufactures, installs and services FreshPure Waters™ purified water vending systems in 37 states nationally and has a presence in Canada. 1 job- $6,544.00
PureColor, Inc. – Albuquerque – is a rapidly growing materials science and chemical coatings company focused on high performance, sustainable wood finishes for architectural and OEM wood product markets. PureColor's patented products are high performance, odorless, 100% water-based and entirely free of Hazardous Air Pollutants and Volatile Organic Compounds. 1 job - $7,100.00
TriLumina Corp. – Albuquerque – manufactures semiconductor lasers and their technology is capable of powering hundreds of individual lasers operating in perfect synchronization at exceedingly high speeds and power. 2 jobs- $85,084.00
Santa Fe Brewing Company – Santa Fe- was founded in Galisteo, NM in 1988. In 1996, Santa Fe Brewing was bought by new owners and relocated to Santa Fe. The company has seen a large amount of growth and is now expanding by developing keg distribution of its product lines throughout its sales territories, as well as expanding into new regional territories. 3 jobs- $23,971.00
NM Wineries – Deming - New Mexico Wineries, Inc. is a family-owned winery founded in 1984 in Deming, NM. The winery produces and bottles approximately 50 different types of wines for the company and other wineries, with over 150,000 cases sold last year. 1 job - $9,720.00
HT MicroAnalytical – Albuquerque – in April 2003, HT MicroAnalytical began operations in Albuquerque manufacturing microfabricated switches used in micro-electromechanical systems (MEMS). HT MicroAnalytical currently produces the world's smallest reed switch.
1 job- $20,620.60
The Job Training Incentive Program (JTIP) 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 non-retail service with 50 percent of the company's customer and 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.