Santa Teresa-Based Economic Developer Claims “Mexico is the Future”, says Construction Reporter
Industry: Real Estate
Trade with Mexico, according the International Business Accelerator ED Jerry Pacheco, offers one of the biggest economic opportunities for the State of New Mexico.
New Mexico (PRUnderground) November 5th, 2014
Pacheco claims that Susana Martinez and the New Mexico State Legislature “get it”–that trade with Mexico represents a tremendous boon for the economy of New Mexico. Which feels good to him as he has long felt like a lone voice on the issue. Pacheco laughs that he was once referred to as a “John the Baptist in the desert in camel hair looking kind of crazy and yelling: “the future is Mexico! The future is Mexico!”
As one example of her support for trade with Mexico, Martinez joined with Chihuahua, Mexico Governor Cesar Duarte in 2013 to announce a joint initiatve for the Bi National Community Master Plan. The Plan has as its mission exploration and articulation of the industrial, commercial, retail, and residential development opportunities within the 70,000 acres encompassing the Santa Teresa-San Jeronimo border crossing.
Foxconn Technology Group, out of Taiwan, anchors the Mexican side through its 640-acre manufacturing campus in San Jeronimo. On the U.S./New Mexico side lies the 2200-acre Union Pacific Intermodal Facility in Santa Teresa.
The Bi National Community is anchored on the Mexican side through the presence of the Taiwan-based Foxconn Technology Group’s manufacturing 640-acre campus in San Jeronimo and on the New Mexico side by the 2200-acre Union Pacific Intermodal Facility in Santa Teresa.
In the realm of residential development, Mexican real estate developer Corporacion Inmobiliaria has broken ground on 500 new houses, each listed at $20,000 on previously vacant land in San Jeronimo. Pacheco says that the firm is working with state government to build worker housing and their own industrial park. Their projection is to construct 1,000 housing units per year for the next five years.
New residential developments in Santa Teresa are quite a big pricier, with costs starting at $100,000. These units, also, are being constructed through joint processes. Pacheco also notes that exports out of New Mexico to Mexico have been steadily growing in recent years with 20 percent growth in the past 5-6 years overall, with 800,000 reported yet close to $1 billion in exports considering undocumented exports, according to Pacheco’s estimates over that 5-6 years.
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