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Business Subsidy Programs

In Plant Training Program
The New Mexico State Legislature created the Industrial Development Training Program in 1972. The intention of the program is to provide funds for training projects to new/and or expanding companies who manufacture or produce a product in New Mexico. The In-plant Training Program can subsidize up to half of the cost of trainees and trainers. To be eligible a business must apply before hiring.

New Mexico Department of Labor
Employers can qualify for tax credits for hiring people from specific demographic groups. The Job Training Partnership Act (JTPA Program) can subsidize up to half of the salary of workers who were previously unemployed. There is a subsidized employee training program run by the City of Albuquerque.

Work Opportunity Tax Credits (WOTC):
The Work Opportunity Tax Credit (WOTC) replaces the Targeted Jobs Tax Credit (T.J.T.C.) program which provides a Federal income tax credit for employers hiring certain categories of workers in need of job training or who lack the experience required to gain employment.

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Last Updated on March 5, 1998