State job training funds awarded to Rio Rancho company

Olive Tree Compounding Pharmacy, a Rio Rancho-based company, was one of five businesses recently awarded by the Job Training Incentive Program Board.

The awards were given this month to assist with the workforce training of 70 trainees and two interns, Acting Economic Development Department Cabinet Secretary Mark Roper announced Wednesday.

The Job Training Incentive Program (JTIP) is a state tool to assist companies in hiring and training New Mexico residents. Funds become available on a reimbursement basis after the training is complete and the company has met the agreed-upon benchmarks of the program. The funding structure encourages participation in rural and frontier areas, as well as for companies hiring graduates of New Mexico higher education institutions.

"We are committed to ensuring that as businesses expand and grow, they not only stay in our state but also provide employment, career opportunities, and training to New Mexico residents," Roper said. “The JTIP program, along with Gov. Michelle Lujan Grisham’s robust and innovative tuition-free college initiatives, will ensure we can grow our own workforce for decades to come.”

Olive Tree Compounding Pharmacy, owned by Ndidiamaka “Didi” Okpareke, was awarded $66,990 for three trainees at an average wage of $28.40 and one intern with a wage of $19.75. Olive Tree Pharmacy, Co., is a C-corporation and the only compounding pharmacy in Rio Rancho. The company produces specialized, nonsterile medications for families and pets throughout New Mexico, Texas, Nevada, Maryland, Georgia, Alaska, Illinois and Indiana. Its compounded products are an alternative to commercially available retail medications and are individually tailored to meet the specific needs of their patients.

Olive Tree broke ground on a new location on July 10 and will celebrate the grand opening of the building at 1713 Wellspring Ave. SE with a ribbon-cutting ceremony at 2 p.m. Saturday.