Narayan AmmachchiNearshoring momentum is accelerating in Aguascalientes, with 20 new foreign companies expressing interest in establishing operations in the central Mexican state.
At least five of these projects are expected to materialize in the near future, reported Binoticias citing Esaú Garza de Vega, Secretary of Economic Development.
The wave of interest follows a series of high-profile investments from global firms. In recent weeks, U.S.-based Resideo, Canada’s Rainmaker, Turkey’s Teklas Automotive, and China’s Minth Group have all announced operations in Aguascalientes.
Among the largest commitments is from Minth Group, which plans to invest $173 million in a facility dedicated to producing electric vehicle components.
The project is expected to generate approximately 1,200 jobs, strengthening the state’s growing role in the global automotive supply chain.
This nearshoring trend — driven by companies seeking to relocate supply chains closer to key markets like the United States — has been gaining speed after Donald Trump started threatening to impose heavy tariffs on imports.
Interestingly, Mexico has emerged as a prime beneficiary of this shift, as it has free trade agreement with the United States.
According to the state’s Ministry of Economic Development, Science and Technology (Sedecyt), Aguascalientes currently has 48 active foreign investment projects across sectors such as automotive manufacturing and medical devices. In the first half of 2024 alone, the state recorded investment announcements totaling $1.74 billion, with an estimated 4,500 jobs expected to be created.
To support this growth, the state government has launched the “San Marcos Valley” industrial park in southern Aguascalientes. Announced in January with a planned investment exceeding $88 million, the complex will host companies in sectors including automotive, technology, healthcare and logistics.
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