Reduce Hiring Costs
Identifying Resources to
Reduce Hiring Costs
Job Training Incentive Program (JTIP)
New Mexico has one of the most generous training incentive programs in the country. The Job Training Incentive Program (JTIP) funds classroom and on-the-job training for newly-created jobs in expanding or relocating businesses for up to 6 months. The program reimburses 50-75% of employee wages. Custom training at a New Mexico public educational institution may also be reimbursed.
opens in a new windowNM EDD Job Training Incentive Program Overview
Local Economic Development Act (LEDA)
Under the Local Economic Development Act (LEDA) (5-10-1 to 5-10-13 NMSA 1978) the New Mexico Economic Development Department (NMEDD) is granted authority to administer grants to Local Governments (Municipality and/or County); to assist expanding or relocating businesses that are Qualified Entities that will stimulate economic development and produce public benefits pursuant to LEDA. Additional consideration is given to project that demonstrate:
- Significant Community Impact and Support;
- Rural and Underserved Areas of New Mexico;
- Increased Wages and Job Creation;
- Significant New Capital Investment; and
- Environmentally Sustainable Outcomes.
opens in a new windowEDD List of 83 NM Communities with LEDA Funding Available
opens in a new windowLocal Economic Development Act (LEDA) Statuteopens PDF file
High Wage Jobs Credit
An eligible employer must file annually to apply for a high-wage jobs tax credit for each new high-wage job created on or after July 1, 2004 and before July 1, 2026, occupied during a qualified period beginning with the year the new job is created and for three consecutive qualifying periods. The amount of the credit is 8.5% of wages paid to an eligible employee in a high-wage job for a maximum credit of $12,750 per qualified period.
opens in a new windowRPD-41288, Application for High-Wage Jobs Tax Creditopens PDF file
opens in a new windowRPD-41290, High-Wage Jobs Tax Credit Claim Formopens PDF file