Doing Business in Rio Rancho
Economic Development Incentives and Finance
Job Training Incentive Program (JTIP)
The Job Training Incentive Program (JTIP) funds classroom and on-the-job training for companies creating new positions in New Mexico. JTIP reimburses from 50 percent to 55 percent of employee wages and required travel expenses for up to six months. Custom training at a New Mexico public educational institution may also be covered.
Trainee wages are reimbursed to the company at the completion of the approved training period. Reimbursement is 50 percent in Rio Rancho and positions, which also meet the wage requirements of the High Wage Jobs Tax Credit, are eligible for an additional 5 percent reimbursement. JTIP is applicable to new or expanding Rio Rancho businesses that manufacture or produce a product and under limited circumstances, JTIP may be applicable to non-retail service sector businesses. Sixty percent of the non-retail service sector company’s revenues must derive from customers outside New Mexico.
The JTIP Board approved a new component to the program to assist companies on their training costs to enhance jobs skills of existing workers. This type of training can include new technology integration, production processes and employee development.
For more information on JTIP see the NMEDD website at www.edd.state.nm.us/ or contact Therese Varela, Program manager, by telephone at 505-827-0323 or by E-mail at [email protected]