Queretaro, located in central Mexico, has been rated as one of the most internationally competitive areas in the country. Its strategic location, regional and international connectivity, and long-term and consistent collaboration between government, academia, and industry over decades in a triple helix model have contributed to its high quality of life and economic stability. A solid industrial culture has attracted many high-profile international companies in various industries, and its efficient government systems, safety, and broad cultural offering further increase its potential for growth and attractiveness to international companies in Mexico.
Proof of Queretaro’s competitiveness is that it is the first state in the country to have received an investment-grade rating from the prestigious Standard and Poor’s. In addition, it was rated number three in the state competitiveness Index by the Mexican Institute for Competitiveness and number two in the region as the Latin American States of the Future in Economic Potential Overall in 2019 by American Cities of the Future. As the second state in Mexico with the lowest public debt, it also ranked fifth in economic potential on FDI Intelligence’s list of Global Cities of the Future.
Located just 120 miles north of Mexico’s capital and largest city, Mexico City, it has excellent national and international connectivity. Two of the country’s major highways and railways systems converge in the area, making it advantageous for logistics operations or companies looking to start up manufacturing or distribution operations in Mexico. It is also ideal for nearshoring and ally-shoring operations, at only 584 miles to the closest US border crossing at Laredo, Texas. The Queretaro Intercontinental Airport offers flights to 20 cities in Mexico, with direct passenger flights to Dallas, Houston, Chicago, and Detroit and direct cargo flights to Cincinnati, Memphis, Los Angeles, and Louisville.
The area’s high-quality educational offering, excellent healthcare, and diverse international community are attracting more residents, with 67 people moving to the state each day. There are 2.27 million people living here, with 888,000 of these being economically active. Government incentives for training programs and investments made in specialized schools have resulted in the strong industrial culture and availability of high-quality, specialized labor.
Its 28 technical high schools, 13 technical universities, and 74 higher education institutions, 39 of which offer graduate programs, work together with industry to create plans of study which provide students with the skills needed by the region’s industry. One example is the Aeronautic University of Queretaro, which has been recognized for its outstanding programs by the French government in Mexico. The state’s educational offering also includes programs to support automotive manufacturing in Mexico, one of the state’s leading industries, along with aerospace manufacturing in Mexico. Companies in these industries located in Queretaro include Airbus, Bombardier, Safran, Aernnova, and GE (aerospace), and Continental, Michelin, Scania, Magna, and BOSCH (automotive).
Queretaro’s excellent industrial infrastructure and industrial real estate availability make it ideal for carrying out offshore manufacturing in Mexico. The quality of life and efficient legal system are also important factors that contribute to a company’s long-term success—more reasons why Queretaro deserves a spot on the shortlist for international companies looking to start up operations in Mexico in a variety of industries.
By Ana Paula Magaña | Queretaro Business Development | American Industries Group®
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