|
Job Training Incentive Program
New Mexico has one of the most aggressive training incentive packages in the country. The Job Training Incentive Program provides classroom and on-the-job training, paying from 50% to 65% (depending on geographic location in the state – Physical Location below) of employee training costs and wages for an expanding or relocating business for up to six months.
Eligible Uses
Customized training is conducted at the business facility or at an educational institution in one of three ways:
- Classroom at public educational institutions;
- Training at the business facility, with hands-on skill development, customized to develop unique skills essential to the business; and
- On-the-job and/or classroom training.
Rates, Terms
Trainee wages are reimbursed to the company at 50% during hours of training, not to exceed 1,040 hours per trainee or 40 hours per week. Instructional cost of classroom training is reimbursed to the educational institution at 100% outlined in the training contract. Costs include instructional salaries, fringe benefits, supplies and materials, textbooks, expendable tools and other necessary and reasonable costs associated with conducting training.
Physical Location
Wages paid in rural areas are reimbursed at a higher rate (60%), as are economically distressed areas (Cibola, Mora, Guadalupe, Rio Arriba, Luna, San Miguel, McKinley and Taos Counties), at 65%.
Industry Targets
New or expanding businesses that manufacture or produce a product in New Mexico are eligible. Under some circumstances, assistance may be provided to non-retail service sector businesses if at least 60% of the company’s revenues are derived from outside New Mexico.
Other Conditions
Trainees must be granted full-time employment upon successful completion of training; be of legal working status; have resided in NM for at least 1 year; shall not have terminated a public high school program within the past three months except by graduation; and must be eligible under the Fair Labor Standards Act.
|
