State Assists Five New Mexico Companies With Funding

Parting Stone of Santa Fe is preparing about 5,000 solidifications annually. Each solidification produces 40 to 60 stones that range in size from small to palm size. Courtesy/EDD

EDD News:

SANTA FE — New Mexico Economic Development Department (EDD) Cabinet Secretary Alicia J. Keyes has announced that five companies have received Job Training Incentive Program (JTIP) awards for November 2022.

The agency approved a total award amount of $320,604.36 during their monthly JTIP board meeting. 

JTIP funds are allocated monthly to companies who request assistance in training new employees. The funds will cover a portion of trainee wages (50-75 percent depending on location) for up to 6 months. Jobs must meet specific requirements and must be for New Mexico residents. More information about program specifics can be found on the Economic Development Department website.

“Thanks to the EDD program, these and many other companies have been able to expand New Mexico operations and retain business within our state. Further, they are all excellent examples of our innovative economy and our support for companies both large and small,” EDD Secretary Keyes said. 

The JTIP recipients for November are: 

  • Advanced Manufactured Power Solutions (AMPS), Albuquerque, 2 trainees at an average wage of $42.85 for a total award of $50,264.68. AMPS provides custom, high-quality and high-reliability battery packs for the defense and space industries. The company’s primary customers consist of government organizations and defense contractors. The 4-year-old company reached a significant growth milestone last year with its first out-of-state contract, a project for NASA’s Jet Propulsion Laboratory in Pasadena, California;
  • Parting Stone, LLC, Santa Fe, 7 trainees at an average wage of $24.29 for a total award of $76,440. Parting Stone offers families choosing cremation an alternative to conventional ash. Their service solidifies the full amount of remains into a form that resembles a collection of smooth stones. Solidified remains are a new form of human and animal remains;
  • Sceye, Inc., Moriarty, 5 trainees at an average wage of $38 for a total award of $135,613.28. Sceye is a manufacturer of High-Altitude Platform Stations (HAPS) for the stratosphere at 65,000 feet. From there, Sceye connects directly to mobile devices and observes the Earth in real time at resolutions never before possible. Sceye stations are an excellent solution for instant infrastructure in an era where broadband access has become an essential element of everyday life. Currently, Sceye is on track to expand internet access to remote populations, monitor greenhouse gasses down to individual emitters, and detect natural disasters as they begin;
  • The Verdes Foundation, Albuquerque, 3 trainees at an average wage of $20.83 for a total award of $24,032. This is an amended amount from a previous JTIP application. The Verdes Foundation is a nonprofit organization and one of the longest-operating production and dispensaries in New Mexico. The company has two adjacent production facilities in Albuquerque along with dispensary locations in Albuquerque and Rio Rancho that are operated by registered nurses. The positions associated with manufacturing are eligible for JTIP funding;
  • Universal Hydrogen Co., Albuquerque, 1 trainee at an average wage of $57.70 for a total award of $34,254.40. Universal Hydrogen is making hydrogen-powered commercial flight a near-term reality. The company takes a flexible, scalable, and capital-light approach to hydrogen logistics by transporting it in modular capsules over the existing freight network from green production sites to airports around the world. To accelerate market adoption, Universal Hydrogen is also developing a conversion kit to retrofit existing regional airplanes with a hydrogen-electric powertrain compatible with its modular capsule technology.
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