A free Business Development Workshop and Lunch is taking place in Ruidoso for military veterans, Guard/Reserve and transitioning active-duty personnel interested in starting their own business or expanding an existing operation. More information and details on the workshop can be found HERE.
US House Committee Examines Department of Labor Overtime Rule: The US House of Representatives, Small Business Subcommittee on Oversight, Investigations and Regulations held a hearing last week to examine the consequences of the Department of Labor’s (proposed) new overtime rule.
Under current Department of Labor (DOL) regulations – last updated in 2004 – employers are required to pay all employees time-and-a-half for any hours they work in excess of 40 hours per week if they make less than $23,660 per year, regardless of the employee’s job responsibilities. The proposed rule would more than double that salary threshold so that any employee earning a salary of less than $50,440 per year would become eligible for overtime pay. In addition, the minimum salary would automatically increase each year to match the 40th percentile of the average salary earned by full-time employees in the United States.
New Mexico Supreme Court Asked to Rule on Constitutional Amendment Votes: Regardless of the issue involved, there is a process that must be followed in New Mexico for legislation to become a law. This process is well defined and easy to follow – or is it? A NM voter advocacy group is claiming that three ballot issues in 2008, 2010 and 2014 are actually law because they got a majority vote. Current election rules, however, state that these issues must have 75% approval, not a majority, to be made into law. READ MORE HERE
Where Do Economic Development Incentives Go? Ever wonder where taxpayer money that is used for economic development incentives go? The City of Albuquerque has three major companies they have invested Local Economic Development Act (LEDA) funds in:
Canon, receiving $200,000, RiskSense, receiving $75,000 and NM Food Distributors, receiving $125,000. Several other companies have received local economic incentives too. READ MORE HERE
Job Training Incentive Program (JTIP) funding has also been announced recently for seven companies. READ MORE HERE
You can become a part of the NMBC – We have membership categories for individuals and businesses. Contact us at nmbiz@nmbizcoalition.org or (505) 836-4223 for more information.