JTIP helps create 56 high-wage jobs

December 1, 2013 • State News

SANTA FE—The New Mexico Economic Development Department’s Job Training Incentive Program Board approved $480,724 in funding at its October board meeting for 54 jobs and an internship, and $39,874.12 for two jobs in November. The funding was awarded to six companies with an average wage of $30.73 for the newly-created jobs. The next board meeting will be Dec. 13, in Albuquerque.
“It is marvelous to assist existing New Mexico companies in growing their employment base through JTIP, which provides skills and opportunities to New Mexicans,” said Economic Development Cabinet Secretary Jon Barela. “JTIP and recent tax reductions for businesses make New Mexico more competitive in not only recruiting business here, but helping those currently in our state expand.”
October’s JTIP recipients are:
xF Technologies, Albuquerque: Founded in Albuquerque in 2007, xF has successfully created a unique patent-pending process that converts heterogeneous biomass into a high density fuel called Alestron as well as high-value chemicals. The company’s unique and patented technology produces furan derivatives from biomass derived sugars. Once produced and approved for use, these furan derivatives can then be blended with base fuels (ie gasoline or diesel) and sold as transportation fuels in the open market. $17,874.00 -1 job.
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