Jalisco attracts US$100 million in German automotive investment

Jalisco attracts US$100 million in German automotive investment

JALISCO - Jalisco has consolidated its position as a pole of attraction for foreign investment in the automotive industry by making investments totaling approximately US$100 million during its participation in the prestigious Hannover Messe trade fair.

The Secretary of Economic Development (Sedeco), headed by Roberto Arechederra, has confirmed this significant investment, which comes from renowned German companies in the sector.

Although the names of the investing companies have been kept confidential, it has been revealed that they are both a new company and two expansions of existing projects in the state. This flow of investment promises to generate a positive impact on the Jalisco labor market, with the estimated creation of between 300 and 500 jobs in the first stage.

In addition, it is projected that these investments can be scaled up to generate between 1,000 and 1,500 jobs in later stages.

The head of Sedeco, Roberto Arechederra, highlighted the importance of these investments for the economic and social development of the state. He pointed out that the German companies that will expand their operations in Jalisco are motivated by the success they have experienced in the region.

These companies are looking to expand to take advantage of local talent and the logistical benefits that Jalisco offers. In addition, Arechederra highlighted that these companies offer salaries 'well above 2.2 minimum wages', which represents an opportunity to improve the working conditions of the population.

The arrival of these new investments consolidates Germany as one of the five countries with the highest Foreign Direct Investment (FDI) in Jalisco. Renowned German companies such as Bosch, Continental, Hella and TH Automotive already have a significant presence in the state, contributing to the economic and technological growth of the region.