Annual Review Yields Stronger JTIP Program

By Damon Scott for Finance New Mexico

JTIP recipient Insight Lighting

JTIP recipient Insight Lighting; photo Jane Phillips photography

The Job Training Incentive Program, the economic development tool better known as JTIP, is responsible for creating 10,000 New Mexico jobs since 2011, according to the New Mexico Economic Development Department (EDD).

Since 1972, JTIP has been providing incentives for qualifying employers who are expanding or relocating in the state. Incentives include money for on-the-job training for up to six months and reimbursement of up to 75 percent of an approved employee’s wages and training costs at an approved New Mexico public education institution. Continue reading

Webinar Series Extends Economic Development Outreach Statewide

By Sandy Nelson for Finance New Mexico

Creating and expanding businesses is essential to economic development in rural New Mexico, and broadband internet access is essential to helping those ventures succeed. In fact, few businesses anywhere in the state can reach all potential customers without fast, reliable and affordable connections to the web.

To share information about existing resources and suggest how broadband-deficient communities can obtain better service, the New Mexico Economic Development Department (NMEDD) recently hosted a webinar under the auspices of its FundIt initiative. Continue reading

Certified ‘True’ Campaign Helps Businesses Increase Visibility, Bottom Line

By Damon Scott for Finance New Mexico

New Mexico True State tourism departments are assigned a big task: drive visitors to cities, towns and attractions, where tourist dollars can spur the economy. When they’re successful, local businesses get a boost from increased sales.

For the New Mexico Tourism Department, much of selling the state is easy, as the Land of Enchantment’s natural beauty sells itself. And since the department’s 2012 launch of the New Mexico True campaign, businesses can leverage the visibility and heft of the state’s sales efforts by becoming certified as New Mexico True. Continue reading

Conference to Feature Business Opportunities in Local Film Industry

By Damon Scott, Finance New Mexico

Vendors wantedThe New Mexico film industry has been an economic bright spot for the past several years, helping businesses grow and weather the recession.  After state tax incentives for the industry kicked into gear in 2003, opportunities for individuals and businesses have been continually created. And industry leaders say there’s still room for growth.

Nick Maniatis, director of the New Mexico Film Office, said the industry is “as strong as it’s ever been,” with 2017 shaping up to be the third-consecutive year of record activity — defined by overall economic impact and job creation, among other markers. Continue reading

Workshops Give Business Owners Financial Foundation

By Damon Scott for Finance New Mexico

Intimidating financialsCustomers, workers, partners and associates have seen it: Business owners with incredible drive and energy who fall into the habit of working harder, not smarter.

This phenomenon may be especially true when applied to understanding business finances. And it can happen to someone who has been in business for 20 years or just two months.

A long-running program at WESST in Albuquerque has sought to change the equation when it comes to the language of business finances, which can be intimidating for both startup entrepreneurs and seasoned business owners. Continue reading

Diversity Among Advisors Is Good for Business

By Sandy Nelson for Finance New Mexico

Diverse advisory teamWhether it’s a sole proprietorship or a multinational corporation, every New Mexico business needs an individual or group of people whose job it is to advise the owner or leadership team.

Those advisers might be family members or mentors in the case of a small business, or they might be experienced executives providing a larger company objective, expert feedback and wise direction as members of a formal board of directors.

Big or small, the group of people offering counsel should reflect the business’s stakeholders, most especially its customers. It should be as diverse as its audience. Continue reading

Making Manufacturers: Events Aim to Inspire Next-Generation Workers

By Sandy Nelson for Finance New Mexico

Young people can be hard to impress, but students from Albuquerque’s Academy of Trades and Technology (ATTHS) charter school were visibly stoked by a tour of Rader Awning during 2016 Manufacturing Day events.

ATTHS students during Manufacturing Day 2016 tours at Rader Awning (left, center) and OGB Architectural Millwork; photos Jane Phillips Photography

Before-and-after shots of the 15 ATTHS students who visited the factory where Rader manufactures awnings, shade panels and fabric products illustrate what can happen when young adults get a close look at the world of manufacturing: a transformation from bored detachment to delighted engagement. Continue reading

Employers Have Duty to Stop Employees Who Harass Co-Workers Online

Cyber harassment

By Sandy Nelson for Finance New Mexico

Employers who fail to protect employees from a co-worker’s racist, sexist or otherwise derogatory and defamatory comments on social media platforms can find themselves on the losing end of a workplace harassment lawsuit.

Case law on work-related cyber-harassment is evolving with the popularity of social media as a way for people to connect, communicate and commiserate, but one trend is clear: Courts expect employers to intervene immediately when they learn of workplace disputes spilling over onto social media, and the law increasingly considers online harassment and bullying just as egregious as the kind that happens obliquely or directly in an office or other physical job site. Continue reading

New Program Helps Small Businesses Prepare to Become Federal Suppliers

By Sandy Nelson for Finance New Mexico

xEnergizeGovernment organizations save money on procurement the same way private companies do — by finding volume discounts on products and services. Such economies of scale benefit the companies that can afford them, and they stretch taxpayer dollars, but they also squeeze out small businesses that don’t have the capacity to complete large, national jobs or work on tight profit margins. Continue reading

Help is Here: Small Business Pros Available at All Levels

By Sandy Nelson for Finance New Mexico

National organizations like the U.S. Small Business Administration (SBA) and local resources like Finance New Mexico are setting the table for small New Mexico businesses that hunger for information and assistance. And what they offer is a fiesta of staples and specials to whet any entrepreneurial appetite. Continue reading