Doing Business in Rio Rancho
Economic Development Incentives and Finance
Step Up Training Program
New Mexico’s STEP UP Training Program supports economic development in New Mexico by reimbursing qualified companies for a portion of training costs associated with enhancing the job skills of existing employees. STEP UP was established as a supplement to the Job Training Incentive Program to assist expanding companies with job training for their existing workforce. STEP UP helps companies to provide fundamental training in areas such as integrating new technology into production processes, product line adjusting to keep up with market demands, or substantial change in delivery processes -- all factors which may require new skills or technological capabilities. The program may also be used to allow an employee to advance within a company and earn a higher salary. Funds ($1 million) have been set aside by the Industrial Training Board for a pilot initiative to be administered through the New Mexico Economic Development Department for FY06 (July 1, 2005 to June 30, 2006).
For more information on STEP UP, 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]