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Intel, Olive Tree receive state job training funds
Intel – New Mexico
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The May 2024 Job Training Incentive Program (JTIP) funding was approved to provide 13 New Mexico companies with more than $6 million in potential training funds.
This month’s record allotment of funding will support up to 405 New Mexico employees.
“JTIP reimburses New Mexico companies a portion of the cost to train workers and thereby grow their local workforce,” Acting EDD Cabinet Secretary Mark Roper said. “This month’s funding has exceeded previous record highs while also highlighting the unique and innovative science and technology enterprises in the state.”
Higher levels of reimbursements are available for positions in rural and frontier areas, for New Mexico higher education graduates, and other criteria. Companies awarded are located in Albuquerque, Belen, Los Alamos, Rio Rancho, Santa Fe and Taos. Altogether, they hope to hire and train 404 trainees and one intern.
In Rio Rancho, Intel and Olive Tree Pharmacy Co. were awarded a total of more than $3 million.
Intel was awarded $3.23 million for 200 trainees at average hourly wage of $47.50. As Intel's innovation hub, the Intel NM site plays a unique role in the company's mission to make technology with the power to improve the lives of everyone on the planet. The Fab 9 and Fab 11x facilities in Rio Rancho represent the first operational site for mass production of Intel’s 3D advanced packaging technology. It is also Intel's first co-located high-volume advanced packaging site, marking an end-to-end manufacturing process that creates a more efficient supply chain from demand to final product.
Olive Tree was awarded $5,040 for two trainees at an average hourly wage of $15.75. Olive Tree Pharmacy, Co. produces specialized, non-sterile medications for families and pets throughout New Mexico, Texas, Nevada, Maryland, Georgia, Alaska, Illinois and Indiana. Olive Tree’s compounded products are an alternative to commercially available retail medications and are individually tailored to meet the specific needs of their patients.
