By New Mexico Partnership
New Mexico is a state with a wealth of assets in the right place. Our strategic location in the Southwest and excellent transportation infrastructure have attracted companies from around the world. New Mexico is an easy choice.
The cost of doing business for many industries is the lowest in the region. A robust workforce, lower than average cost of living, and a high quality of life have all kept compensation costs in New Mexico below the national average. The state boasts low energy costs with various opportunities for carbon sensitive companies to take advantage of New Mexico’s high capacity for renewable energy. New Mexico has also focused on proactively maintaining a business-friendly environment with some of the most competitive incentive programs in the United States, like the state’s flagship workforce development initiative, the Job Training Incentive Program (JTIP). JTIP has been helping companies grow for over 50 years. New Mexico has the partnerships and incentives companies need to grow, prosper, and succeed in today’s evolving and dynamic business climate.
Research and Technology Lead Development in New Mexico
A history of success in R&D and emerging tech has resulted in a high concentration of STEM talent in the state, like the experienced talent coming from our federal research laboratories – Los Alamos National Laboratory, Sandia National Labs, and the U.S. Air Force Research Laboratory – as well as the talent pipeline from our state-supported research universities. This strong talent base has paved the way for many of the complementary industries in advanced energy, aerospace, defense, logistics, value-added agriculture, life sciences, advanced manufacturing, and information technology.
Maxeon Solar Technologies, a Singapore-based company that is a global leader in solar panel production and innovation, recently choose New Mexico for one of its new manufacturing operations. Maxeon’s planned $2 billion, 1.9 million-square-foot complex in Albuquerque is the first commercial-scale solar cell manufacturer in the country and is expected to employ up to 1,600 people. This will be Maxeon’s first U.S. manufacturing expansion and importantly will be one of the first major projects to make use of the domestic manufacturing incentives from the Inflation Reduction Act. The Albuquerque plant’s planned capacity is approximately double the size of the largest silicon solar manufacturing facility currently operating in the United States.
Star Scientific, an Australia-based green hydrogen R&D company, also recently announced it chose Albuquerque to establish its first North American operation. The company plans to invest $100 million in New Mexico and hire 200 employees for their joint research and manufacturing facility. New Mexico’s commitment to the success of the renewable energy and hydrogen industries, including a commitment to reach net-zero emissions by 2050, was a major deciding factor for the company.
mtex Antenna Technology, a German company, will be locating its telescope and antenna manufacturing facility in New Mexico. mtex choose New Mexico because of its business operating costs, logistics, and specifically its workforce related technology and engineering assets. Companies as mtex, Maxeon, and Star Scientific benefit from New Mexico’s thriving tech ecosystem.
Success at the New Mexico-Mexico Border
New Mexico’s border region has been one of the areas where companies looking to expand their U.S. operations have concentrated and has been a consistent center of growth for the state. State leadership is supporting that growth by prioritizing infrastructure improvements to New Mexico’s border crossings and is making global trade a top priority. Plans for investments in excess of $250 million in infrastructure improvements to go along with nearly one billion in transportation improvements in the region show the commitment to this region.
The Borderplex is part of a bi-national, three-state region that includes Las Cruces and Santa Teresa in New Mexico, El Paso in Texas, and Ciudad Juarez in Mexico, and is home to more than 2.5 million people, making it the largest metro along the U.S./Mexico border. The region offers access to key national and international consumer markets and is equidistant between the ports of Long Beach in California and Houston in Texas. Manufacturing and logistics companies locating in the Borderplex region have the unique opportunity to make use of multi-national operations under the protection of USMCA, co-locating in both the U.S. and Mexico with close access to international markets in Central and South America.
New Mexico attracted the attention of Taiwan-based Hota Industrial Manufacturing Co., which makes gears and other auto components for clients including Tesla, GM, and Ford. The company has chosen Santa Teresa for its first plant outside of Asia and represents the third Taiwanese company to locate in the region. Hota plans to hire 350 employees and invest $100 million in the state, with future expansions possible over the coming decade. Hota’s first major U.S. expansion is in part driven by the need for a more diverse and resilient supply chain to avoid production slowdowns due to labor or transportation interruptions. This was a major consideration for Hota as nearly 70 percent of Hota’s market is in the Americas.
In addition to Hota, Monti Inc. and Coast Aluminum have recently chosen Santa Teresa for expansion. Monti Inc. is a U.S.-based leader in industrial component manufacturing and fabrication, while Coast Aluminum distributes custom and in-stock aluminum materials and metal products. Franklin Mountain Packaging, a corrugated sheet manufacturer, and Louisiana Pepper Exchange, a pepper mash food processor that supplies some of the largest hot sauce makers, are two more companies joining the rapidly growing NM Borderplex this year.
Providing the Foundation for Success in New Mexico
New Mexico offers the partnerships, talent, and public support needed for companies to be successful. We offer a coordinated approach and a formal network of leaders and economic developers to simplify the expansion process for companies interested in locating in New Mexico. The New Mexico Partnership is designated by the state to be the single-point-of contact to help businesses through the location process in New Mexico. To learn more and get started on your project needs in New Mexico, visit www.nmpartnership.com.
