LAS CRUCES, NM – The Las Cruces City Council approved a resolution increasing the minimum benchmark wage for local businesses that receive State of New Mexico Job Incentive and Training Program (JTIP) funds and apply for WagePlus funds.
Labor availability and development are among the top factors influencing whether a company stays, expands or relocates to a community. Companies are rethinking how to address the shortage of skilled workers and the highly competitive process of recruitment and retention.
The minimum benchmark salary requirement for companies receiving JTIP funds has been raised from $1,125 per week to $1,237.50 per week. This represents a 10% increase.
The resolution is motivated by the need to attract and retain businesses that offer competitive wages to their workers. Las Cruces is facing a shortage of skilled labor, and companies that offer below-market wages have difficulty attracting and retaining the best candidates.
WagePlus is an incentive program to create and attract above-average paying jobs.
The approved resolution would allow companies receiving JTIP funds to access additional funds per job if that job pays at least 10% more than the updated minimum benchmark wage requirement.
