Mexican aerospace FDI began to roll into Mexico in earnest with the arrival of Bombardier in the South Central state of Queretaro in 2005.
The flow of foreign aerospace into Mexico has several decades of history behind it. For instance, Mexican aerospace FDI has made its way into the country’s westernmost state of Baja California for the last fifty years. It was, however, when Canadian OEM bombardier made its home in Queretaro that the state, and the country as a whole, staked its claim to industry legitimacy on a global scale.
Although the topic of the exponential growth of the country’s automotive industry has been the subject of a wide range discussions, articles and international seminars and conferences about Mexico over the last several years, and that investment and job creation continue to register impressive numbers, it should not be overlooked that Mexican aerospace FDI accounts for forty-seven percent of total external capital inflows. Although the country has significant clusters of aerospace companies in place like Monterrey, Chihuahua, Tijuana, Baja California and Guaymas, in the West Mexico
state of Sonora, a large chunk of the aforementioned forty-seven percent of Mexican aerospace FDI is concentrated in the State of Queretaro. According to Klaus Gobenceaux, the president of the Queretaro Aerocluster, this is the case because, “of the large quantity of experienced and skilled labor that is present in the region, as well as both the local and federal government have a placed a high degree of confidence and support in the development of the local industry.”
Among other public officials that believe that Mexican aerospace FDI will continue its flow into the region is Marco Antonio del Prete, who holds the statewide title as Secretary for Sustainable Development. He attributes the regions allure to the aerospace industry to “its strategic location, its developed educational network, as well as to its strong base of suppliers and the legal protects afforded to those that choose to do business in the state.” Confidence in the ability of Queretaro to continue to be a magnet for continued Mexican aerospace FDI is evidenced by the fact
that thirty-one percent of funds that will be allocated for infrastructure improvements in Mexico have been earmarked for projects that will be carried out there.
Mainly as a result of advances made in the aerospace sector, economists predict that the Queretaro’s Gross State Product will expand by six percent during the third quarter of this year. This projection follows a fifteen percent advance registered in the first quarter, and a 9.9% second quarter jump. When taking all Mexican states into account, Queretaro hasbeen the national leader in job creation in 2015. Through the present date, thirty-three new jobs have been made available workers in Queretaro.
Read the primary source for this post in its original Spanish at QuéPasa.
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