Nuevo León Wraps Up 2023 with $45 Billion in Foreign Investment
By Editorial Team
January 16, 2024
Nuevo León, Mexico - In a recent Instagram post, the state governor, Samuel García, proudly announced that Nuevo León concluded the year 2023 with a staggering $45 billion in foreign direct investment (FDI). The governor, via a video posted on his personal Instagram stories, discussed the significant foreign investments that were attracted to the region throughout the past year.
García emphasized that this impressive figure is six times the annual budget allocated to the state, underscoring the substantial economic growth experienced in Nuevo León. He further projected that 2024 will witness even more investments and job creation, solidifying the state's position as an attractive destination for international businesses.
The governor attributed this unprecedented influx of FDI to the nearshoring trend, where companies and suppliers are relocating their operations and supply chains. According to García, this strategic move has enticed numerous companies to invest in Nuevo León.
The video provided a comprehensive list of 28 multinational corporations that chose Nuevo León as their investment destination. Notable names include Bosch, Lego, Siemens, LGMG, Tesla, John Deere, Unilever, Aptiv, Ople, Nagarro, Brembo, Navistar, Tata Consultancy Services, Walmart, Ternium, Ascendion, Globant, GP Desarrollos, and American Woodmark. These companies span various sectors, including technology, manufacturing, and retail.
The establishment and expansion of these multinational corporations across different municipalities, such as Marín and Ciénegas de Flores, significantly contributed to the creation of 250,000 job opportunities in 2023.
Among the noteworthy investments was Tesla's announcement to build a gigafactory in Nuevo León. Despite initial controversy surrounding the electric car manufacturer's presence in the state, Governor García recently reported progress on the infrastructure development in Santa Catarina. Activities include ground leveling, area delineation, topography studies, and general site cleaning.
The establishment of Tesla's plant is expected to bring multiple benefits to Nuevo León, including a boost to the state's economy, enhanced advantages in nearshoring strategies, and an improvement in the overall quality of the workforce. The ongoing advancements in infrastructure underscore the commitment of both the state and international corporations to fostering economic growth and development in Nuevo León.