The New Mexico Economic Development Department declared today that two additional companies, Coast Aluminum and Monti Inc., have been granted state economic assistance. This support aims to bolster manufacturing expansions and facilitate job creation at New Mexico’s international Borderplex in Santa Teresa.
Governor Michelle Lujan Grisham has prioritized investing in the state’s international border to enhance infrastructure and expand global trade. This move is part of a broader strategy to diversify the economy, positioning New Mexico strategically for businesses seeking to strengthen global supply chains and establish manufacturing facilities closer to North American customers.
Following her recent visits to Taiwan and Australia, where she engaged with government and business leaders keen on understanding New Mexico’s competitive advantages, Gov. Lujan Grisham emphasized the strategic appeal of the Borderplex for manufacturing. She highlighted the positive outcomes of her administration’s investments, which are yielding new jobs and sustainable growth, transforming Southern New Mexico into a manufacturing center of excellence.
“Both of these projects point to the distribution and logistics advantages that the NM Borderplex region has to offer, and we are becoming more and more recognized as the center of trade for North America,” said Davin Lopez, President & CEO of the Mesilla Valley Economic Development Alliance (MVEDA), which provided support to the projects.
Coast Aluminum, Inc. has initiated the construction of a 73,500-square-foot distribution center in the Santa Teresa Binational Industrial Park. Operating across various locations in the U.S. and Mexico, Coast Aluminum distributes custom and in-stock aluminum materials, stainless steel, copper, brass, and architectural metal products. Tom Clark, the president of Coast Aluminum, cited the advantageous location and support from New Mexico Partnership and the State of New Mexico as key factors in their decision to establish in Santa Teresa.
Melinda Allen, president and CEO of the New Mexico Partnership, emphasized the significance of Coast Aluminum’s widespread coverage throughout the Western U.S. and northern Mexico, predicting a strengthened state supply chain logistics that would attract industries requiring these materials for production.
The EDD pledged $350,000 from the State of New Mexico Local Economic Development Act (LEDA) job-creation fund to support Coast Aluminum’s $10 million expansion, expected to generate 37 jobs by the end of the first quarter of 2024.
Acting EDD Cabinet Secretary Jon Clark attributed companies’ decisions to choose New Mexico to the state’s superior business climate. This climate supports facility expansions through infrastructure assistance while simultaneously providing essential job training and tuition-free educational opportunities for workers.
The second recipient of LEDA assistance, Monti Inc., a family-owned industrial component manufacturing and fabrication leader based in Cincinnati, plans to invest $14 million in New Mexico. Monti is undergoing an 80,000-square-foot renovation in Santa Teresa, which will house 36 employees and serve as a regional hub for manufacturing and distributing electrical components.
Gordon Narburgh, VP of Sales & Marketing at Monti Inc., expressed excitement about bringing high-quality products closer to customers, attributing the expansion to the dedication of their teammates and the unwavering commitment to customer satisfaction. The Santa Teresa location will feature copper bus bar and sheet metal fabrication, along with a state-of-the-art five-stage powder coating line.
These efforts of bringing Monti and Coast Aluminum, Inc. to New Mexico’s Borderplex is due to the established partnerships between New Mexico EDD, the New Mexico Partnership, and the Mesilla Valley Economic Development Alliance. Working together to strengthen New Mexico’s future in the global economy.
