SANTA FE - The New Mexico Economic Development Department's Job Training Incentive Program (JTIP) Board approved $179,994.28 in funds during its July meeting. The funds will help cover the cost of training seven high-wage positions at Albuquerque-based, @Pay LLC. In addition, the Board also voted to approve an amendment to a previous JTIP approved company, Plenish, allowing the business to add an additional two jobs with $11,040 in funding. The next JTIP Board meeting will be held on August 16 in Albuquerque.
 
"The Job Training Incentive Program is a great tool for new and existing business to utilize to help them create new jobs," said Economic Development Cabinet Secretary Jon Barela.  "It is especially encouraging to assist in the creationof high-wage, technology based positions as we focus our expansion and recruitment efforts in this area."
 
@Pay LLC, this month's JTIP recipient, was founded in 2011. The company developed patent-pending technology that changes the way electronic payments can be made.  @Pay's technology allows a financial transaction to be made with just two clicks from a smart phone or desktop computer.
 
About JTIP
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.