Over $800k in workforce training funds awarded to NM companies

SANTA FE, NM (KRQE) – Five New Mexico businesses received funding this month to go toward employee training. Economic Development Department (EDD) officials say March’s Job Training Incentive Program funds could support 70 trainees and two interns. The total amount paid in March was $814,902.60.

Funds are available on a reimbursement basis after training is completed and the organization meets the agreed benchmarks of the program The EDD said the funding structure is aimed at encouraging participation in rural and frontier areas and also companies hiring graduates of New Mexico higher education institutions.

The five organizations receiving workforce training funds are:

  • F5 Theming & Design 2 LLC in Animas. They were awarded $86,562 for five trainees at an average wage of $21.80. They are a scenic industrial design and manufacturing company focused on themed entertainment and commercial environments.
  • Advanced produced energy solutions in Albuquerque. A trainee averaged 40.87 wages for a total award of $24,627. AMPS provides custom, high-quality, and highly-reliable battery packs for the defense and aerospace industries.
  • Franklin Mountain Packaging, LLC In Santa Teresa. 61 trainees at an average wage of $19.11 for a total award of $623,923. They manufacture corrugated sheets and provide unique digital printing services for the corrugated box manufacturing industry.
  • Olive Tree Pharmacy, Co. In Rio Rancho. Three trainees at an average wage of $28.40 and one intern at an average wage of $19.75 for a total award of $66,990. They are a C-Corporation and the only compounding pharmacy in Rio Rancho.
  • Knight Scientific Systems LLC In Los Ranchos/Albuquerque. An intern with a wage of $40 for a total award of $12,800. They are developing multi-spectral object detection tools to bring machine learning to all imaging wavebands.

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