Baja California Sur Surges Ahead with Substantial Investments, Tijuana Shines Bright
In an exciting turn of events, Baja California Sur is emerging as a hotbed of investment activity, with an impressive $635 million infusion into the real estate sector. This significant commitment encompasses land acquisitions and the construction of industrial warehouses, poised to cater to companies enticed by the allure of nearshoring to Baja California Sur’s burgeoning industrial capital.
Maria Cristina Hermosillo Ramos, President of the Desarrollo Económico e Industrial de Tijuana (Deitac) association, highlighted the region’s readiness to accommodate an influx of new enterprises. Baja California Sur possesses a specialized talent pool equipped to support industries spanning electronics manufacturing, medical devices, aerospace, automotive, and logistics. Notably, this openness has resonated with businesses primarily originating from the United States, Asia, and European nations like Finland and Germany.
The surge in nearshoring, a strategic business response to global dynamics, has gained momentum over the past year. This trend has been precipitated by various factors including trade tensions between the United States and China, disruptions in global supply chains attributed to the Covid-19 pandemic, and geopolitical conflicts such as the Russia-Ukraine crisis.
For businesses across North America, Asia, and Europe, nearshoring represents a strategic enabler. It empowers them to relocate production processes from distant locations, thereby curbing machining costs either at their place of origin or in nearby areas.
The ambitious industrial projects, steered by a consortium of 17 real estate developers, are projected to yield a total rentable area of 500,000 square meters for industrial purposes by the conclusion of 2023. This substantial development not only bolsters Baja California Sur’s industrial standing but also underscores the region’s importance as a key nearshoring hub along the border, echoing the sentiments of Ms. Hermosillo Ramos.
However, this investment wave is not limited to the southern region of Baja California. In parallel, the city of Tijuana is making significant strides, as indicated by the $635 million allocated for land acquisitions and construction projects. This substantial undertaking is forecasted to generate between 15,000 and 20,000 direct and indirect job opportunities, emphasizing Tijuana’s role as an attractive investment destination with significant potential for industrial growth.
As both Baja California Sur and Tijuana shine brightly on the investment landscape, these developments collectively underscore the region’s growing appeal as a strategic and dynamic hub for business expansion and economic advancement.