Minority- and women-owned STEM Boomerang LLC — a company that creates connections between science, technology, engineering and mathematics professionals, companies and colleges — received job training incentives from the state to skill up 40 employees and hire executives to create recruitment strategies for growing STEM jobs.
The company, which received $48,000 in funds from the Job Training Incentive Program, is one of nine companies in February to receive funds for skilling up workers across a variety of industries. The money totaled nearly $870,000, and the awards came following a JTIP board meeting in February.
JTIP, one of the New Mexico Economic Development Department’s incentive programs for growing businesses, primarily focuses on aiding businesses with money for “classroom and on-the-job training for newly-created jobs in expanding or relocating businesses for up to 6 months,” according to EDD.
The program got its start in 1972 with help from the New Mexico Legislature, and JTIP reimburses 50% to 75% of employee wages, giving companies the breathing room to expand faster.
“It’s exciting to see so many new companies taking advantage of JTIP,” EDD Secretary Alicia Keyes said in a statement. “It has become such a powerful tool for growing our economy throughout the state. We’ve found that we can not only help businesses grow, but with a little creativity, JTIP can be used to expand the workforce and support New Mexico’s high-potential industries in new and innovative ways like the program at STEM Boomerang.”
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The other eight companies which received JTIP funds in February range from manufacturing to aircraft and food distributors. They are as follows:
This content was originally published here.