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.
Prime Therapeutics, Albuquerque: Prime Therapeutics provides custom pharmacy management services to its clients. Services range from comprehensive pharmacy programs to effective claims engines. The company’s strategy is to integrate pharmacy, the most utilized benefit offered by medical plans, with health management for clinical, financial, and member gain. Prime Therapeutics is expanding its facility capacity in Albuquerque to serve clients in Florida, Oklahoma, and New Mexico. $331,431.66 – 47 jobs
nanoMR, Albuquerque: Founded in 2007, nanoMR Inc. is an early-stage medical device company developing a proprietary diagnostic test for post-operative infections and Sepsis in the bloodstream. One hundred million of these types of tests are performed every year, the unprecedented speed and performance of nanoMR’s testing system will both save lives and provide significant cost-savings to hospitals, insurance companies as well as to patients. Clinical studies are ongoing and projected to be completed in 2013. At that point initial commercial introduction will begin with a focused sales approach in Europe, the target market being high-volume test laboratories In the European Union. $64,228.44 – 3 jobs
CustomerCentrix, Albuquerque: CustomerCentrix provides software and services for Application Performance Management; helping web developers make their websites faster, bigger, and better. Thousands of web applications all over the world have used the company’s main product called LoadStorm, a testing tool that utilizes cloud computing to simulate large amounts of visitor traffic and measure the performance of a website during periods of heavy usage. CustomerCentrix also provides services to assist the company’s clients with understanding how to optimize their web applications. The company recently created a Web Performance Lab that conducts experiments on many types of web software to determine the best practices for making websites more scalable and reduce errors. $56,689.92 – 3 jobs
Qynergy, Albuquerque: Qynergy is a privately held C-corp established in 2002. Originally founded as a technology transfer licensee from Sandia National Labs and UNM for a radiation hard material. The model developed by the company for their business development has transitioned to an accelerator model that enables early technology development to commercialization opportunities. The company teams with individuals and DoD and DOE contracts to enable the development of technologies through its multidisciplinary teams through to maturation to manufacturing. $10,500 – 1 internship
November’s JTIP’s recipient is:
ClosedWon, Albuquerque: Established in 2008, ClosedWon, LLC is a high-tech consulting firm in the cloud computing industry that provides web application development, enterprise solutions, and Salesforce CRM consulting to businesses in 10 states and Switzerland. In 2012, ClosedWon’s revenue was over $4 million and expected to increase 50 percent over the next two years. The company has several multi-billion dollar clients, including a Fortune 100 healthcare company, and other market segments including financial services, advertising, telecommunications and non-profit. $39,874.12 – 2 jobs
The Job Training Incentive Program 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 costumer or 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 goNM.biz.