The State of Querétaro is not only a hub for the aerospace and automotive industry in Mexico, but is also a modern, well-connected and culturally rich area with an outstanding quality of life (2 polo clubs, 12 country clubs, 5 luxury malls, 10 golf courses, etc.). Its capital city with the same name as the state is a well-preserved Spanish colonial town that is designated as a UNESCO World Heritage Site and is known for its iconic aqueduct and post-Baroque architecture.
The state has also earned its place on the map as an industrial and economic leader in Mexico, having been granted a variety of national and international distinctions. These include being named the first choice of companies to invest in Mexico for the third year in a row by KPMG, runner up as the Latin American States of the future in Economic Potential Overall by the FDI for 2018-2019, and being ranked fifth place by the South American States of the future in Overall Business Friendliness, also by the FDI for 2018-2019. All of this is due not only to the great business opportunities it offers, but the area’s abundant recreational and residential areas and exciting cultural and social life available to residents and visitors.
These reasons and more have contributed to the state receiving the record level of foreign direct investment in 2019 of US$1 billion, representing an increase of 5.5% from the previous year. This continues with the growth trend for FDI in the region that has been increasing over the last ten years with the main partners including countries such as the USA, Spain and Canada.
The state’s capital city, Querétaro is located just 120 miles north of Mexico City in the heart of Central Mexico where the two country’s major highways and railways systems converge, making it an ideal spot for logistics operations or companies looking to start up manufacturing services in Mexico. It is also home to the Querétaro Intercontinental Airport, which offers flights to 20 cities in Mexico as well as international destinations including Dallas, Houston, Chicago, Detroit and Atlanta, and houses one of the largest aircraft maintenance, repair and overhaul (MRO) centers in Latin America.
In addition, it is home to some of the most important clusters in the aerospace, automotive industry Mexico, plastics, IT, biotechnology and energy industries. With 190 engineers for every 100,000 inhabitants and home to the third largest number of researchers in Mexico, 74 higher education institutions (39 offering graduate programs), 102 training centers and 53 research and development centers, the area has a wide educational offering and a large pool of highly-skilled workers.
Some examples of the world-class companies that are already established in the area include GE, Aernnova, Bombardier, Safran, Airbus, Faurecia, Brose, Bosch, Dana, Siemens, Eaton, ZF, Magna, Michelin, Continental, Harman, Scania, CNH, PPG, Kimberly-Clark, Samsung, Daewoo, Mabe, Carnation, Kellogg’s and Gerber.
As a leader in the automotive and aerospace industry Mexico, it is the number one state in auto parts manufacturing with more than 350 established companies, and ranks fourth place worldwide in new aerospace investments. The main industrial processes carried out in the region include metal stamping, plastic and rubber injection, rubber extrusion, die casting, plastic molding, machining, assembly, harnesses, painting, engineering and design, among others.
For all these reasons and more, Querétaro should be on the short list for international companies looking to start up operations in Mexico in nearly any industry.
By Jorge Luis Baca | Queretaro Regional Director | American Industries Group®
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