The New Mexico Economic Development announced Monday that a major Asian auto-parts supplier will be constructing a factory in New Mexico’s Santa Teresa Borderplex and hiring 350 employees.
The Taiwan-based Hota Industrial Manufacturing, a manufacturer of automotive gears for North American and European clients including Tesla, has signed an agreement for a 30-acre parcel in the Westpark Industrial Park in Santa Teresa, N.M. with construction expected to begin in 2024. The company plans to invest $72 million in New Mexico with future expansions possible over the coming decade.
A final agreement with the state of New Mexico for assistance with the Economic Development Department is pending. The business stands to qualify for incentives including, the High Wage Jobs Tax Credit, the Manufacturers Investment Tax Credit, as well as job-training assistance through the Job Training Incentive Program (JTIP) and job-creation grants from the Local Economic Development Act (LEDA) for land, buildings and infrastructure.
Investing in New Mexico’s international border to improve infrastructure and boost global trade has been a priority for Gov. Michelle Lujan Grisham as the state diversifies its economy.
“Hota chose New Mexico’s Borderplex because of the availability of desirable land, the workforce, and our logistical advantages that provides access to both Mexico’s factories and North American customers,” said Economic Development Cabinet Secretary Alicia J. Keyes. “Hota is one of several new companies who see New Mexico as a solution to fortify and diversify their global supply chain.”
Hota has a global footprint with facilities in Japan, Taiwan, China, Detroit, Los Angeles, and Monterey, Mexico, according to the company website. “Hota is the largest automotive gear transmission component company in Taiwan with an annual production of nearly 20 million transmission gears,” according to the company.
The Santa Teresa Port of Entry is a primary crossing between the United States and Mexico, and it is the first land port without a bridge structure from the East. Because of this, it serves a critical function for the El Paso and Ciudad Juarez industrial regions as the only port not limited by space or weight. The port is also clearing a growing number of regular commercial vehicles and a larger segment of private commuters.
In the last two years, Santa Teresa, or STPOE, has doubled the number of commercial vehicles processed per hour and hit a new record in 2022 by processing more than 160,000 trucks.
Other recent expansions along New Mexico’s Borderplex include Franklin Mountain Packaging, Louisiana Pepper Exchange, and Oro LLC.
EDD’s mission is to improve the lives of New Mexico families by increasing economic opportunities and providing a place for businesses to thrive. EDD’s programs contribute directly to this mission by training our workforce, providing infrastructure that supports business growth, and helping every community create a thriving economy. For more information about New Mexico Economic Development Department visit EDD.NewMexico.gov.