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Industrial Development Training Program
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The Industrial Development Training Program aids the New Mexican economy
by providing funds for training projects that prepare the state’s citizens
for employment in manufacturing companies or in some cases for non-retail
service companies. Highlights of training projects are as follows:
- Training projects are customized to meet individual company needs
- They can take place in the classroom or on-site at the company
- They will give residents improved economic status through employment
- They will provide measurable growth to the economic base
- They will provide both pre-employment classroom training and on-the-job training
- They are not restricted to the economically disadvantaged
- Companies select trainees and employees
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The minimum reimbursement for training costs is as follows:
- 65% of on-the job participants' hourly wages up to 1,040 hours.
- 100% of company and education institution trainers wages.
- 50% of outside or consultant trainers' wags
- 50 - 100% of trainers travel and lodging costs
- 50 - 100% of instructional materials
- 50 - 100% of the cost of renting training facilities.
There are several restrictions regarding enrollment in the program.
Applicants for training must be US citizens and residents of New Mexico
for a minimum of one year. Trainees must be guaranteed full-time,
year-round employment with the company upon successfully completing training.
At the close of the project, the company will arrange a compliance audit with
an independent accounting firm to evaluate the costs and benefits of the program.
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Located just 45 miles north of Las Cruces, NM, Space Port America is
becoming a reality that will bring huge benefits to the local economies
surrounding it. The project is to be completed by mid-2010, and is estimated
that will bring between 2,200 and 5,000 jobs within the first 10 years of
operations. A lot of value potential has been projected for companies doing business
with the Space Port and the surrounding region. The figure has been set around US $5 billion.
A tax district will be formed to oversee Space Port tax dollars from both Sierra and Dona
Ana counties. The formation of a tax district is required by the New Mexico State
Legislature.
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