The manufacturing industry in Tamaulipas is considered the engine of the economy

Tamaulipas ranks fifth among the states with the highest growth on Mexico’s northern border. This is the result of an upward trend in the creation of new jobs especially in the manufacturing industry.

According to the Mexican Institute of Social Security (IMSS), 6,970 new jobs were created in Tamaulipas at the beginning of 2020, a 1.03% increase on December 2019, ranking the state in ninth place nationally with a total of 684,676 registered jobs.

Among these figures, the most significant data relate to the manufacturing industry, which accounts for 43.1% of new jobs created in Tamaulipas.

Carlos Garcia Gonzalez, Minister for Economic Development of Tamaulipas, noted that out of all the jobs created in the state in January 2020, 89% (6,179) were permanent and the remaining 11% (791) were temporary.

The greatest numbers of new jobs were in the cities of Tampico and Reynosa, with 2,090 and 2,017 new jobs, respectively, while the figure in Nuevo Laredo came to 1,303.

The greatest numbers of new jobs were in the cities of Tampico and Reynosa, with 2,090 and 2,017 new jobs, respectively, while the figure in Nuevo Laredo came to 1,303.

As a result, as of January the number of workers registered with the IMSS in the region of Reynosa was 229,178, in Tampico 146,787, in the city of Matamoros 127,738 and in Nuevo Laredo 96,107.

Tamaulipas enjoys record foreign investment figures

According to the Ministry of the Economy, foreign investment in Tamaulipas stands at USD $1.6 billion. Therefore, for the first time in its history, in terms of attracting Foreign Direct Investment (FDI), this state ranks fifth nationally and second in the northern border.

The cumulative figure from January to December 2019 was USD $1.607 billion, which accounts for 4.9% of the national total and positions Tamaulipas above Jalisco, Chihuahua, Coahuila, Queretaro, Veracruz, Baja California, Guanajuato, Zacatecas and San Luis Potosi, and is only below Mexico City, Nuevo Leon, Estado de Mexico and Puebla.

These results also show that Tamaulipas improved its position in the national FDI ranking, moving up from sixth place in 2018 with USD $1.3718 billion.

The impact of the manufacturing industry in Tamaulipas

For more than 50 years, the economic activity generated by the manufacturing industry in Tamaulipas has had a positive effect on welfare and progress in the state.

Foreign companies that have set up in Tamaulipas not only seek success but also want to improve their working environments and boost productivity as a result.

The growth of the border strip is the result of coordination between industrial manufacturing companies and trade, which go hand in hand in a number of ways.

Similarly, the impact of the manufacturing industry has also been felt in the hotel sector by giving rise to export industry-reliant business tourism.

The importance of the manufacturing industry in Nuevo

Specifically, industrial manufacturing companies in Nuevo Laredo have played a particularly important role thanks to their strategic geographical location.

Fernando Rodriguez, chairman of the Council of Institutions in Nuevo Laredo, says that the arrival of in-bond manufacturing companies is important, especially at a time when world markets are declining. As a result, the arrival of manufacturing companies to the region that create a greater number of jobs needs to be encouraged.

This industry has had a significant impact in Nuevo Laredo as an engine and generator of jobs. It also fosters tourism in the area given that it is a port of entry.

It is for these reasons that Oradel Industrial Center is constantly seeking to attract foreign company operations to its industrial premises, which can be designed in accordance with the needs of each one. The industrial park’s extensive land reserves permit any expansion for existing and new companies.