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Taiwan’s “Gear King” Heda Industrial announced that it will set up a new factory in the Borderplex. Chairman Shen Guorong revealed 3 reasons for settling in New Mexico
Shen Guorong, the chairman of Heda Industry, highlighted that the repercussions of a three-year-long epidemic and the Sino-US trade war have reshaped the global supply chain, causing a transition from globalization to regionalization. This transformation is the driving force behind Heda Industry's contemplation of local parts production in the United States. Furthermore, with the burgeoning electric vehicle sector in the United States, where more than 60% of large industries' production...
Tesla supplier Hota to build first US factory in the New Mexico Borderplex
Hota Industrial Mfg. Co, a prominent supplier to Tesla, has unveiled plans to establish its inaugural manufacturing facility in the New Mexico Borderplex region of the United States. The Taiwanese company is committing $99 million to this venture, marking its first foray beyond the Asian continent. This decision reflects the growing emphasis on regionalized supply chain production. Hota, primarily engaged in the production of gears and other automotive components in Taiwan, disclosed that...
New Mexico Borderplex to become a global trade center.
The New Mexico Borderplex is poised to transform into a global trade hub, and Governor Michelle Lujan Grisham's recent announcement of a trade mission to Taiwan underscores the strategic significance of our state in the realm of international trade and manufacturing. The resurgence of reshoring, the practice of relocating manufacturing and services back to the United States from abroad and increased foreign direct investment have injected vitality into the U.S. economy. Since 2010, these...
Biotech startup, Palladium Diagnostics moves from San Diego to New Mexico’s Borderplex
While San Diego is renowned as a biotech hub, Palladium Diagnostics believes that Southern New Mexico's largest city has just as much, if not more, to offer. The company was founded by Jeff and Nolan Bauer, a father-son duo, in late 2021. Jeff Bauer serves as Palladium's president and CEO, with his son Nolan as the vice president of research and product development. Kevin Jones, the company's chief technology officer, completes the core team. This trio boasts an extensive history in the field...
New Mexico Governor To Lead Taiwan Trade Mission
On Sunday, Governor Michelle Lujan Grisham of New Mexico embarked on a trade and business mission to Taiwan. Her agenda includes participation in U.S. Business Day and meetings with Taiwan's President Tsai Ing-wen, Minister of Economic Affairs Wang Mei-hua, as well as discussions with manufacturing companies interested in establishing operations in New Mexico. Governor Lujan Grisham will deliver a keynote address on September 19th at U.S. Business Day in Taipei, a prestigious business and...
Asian parts manufacturer picks New Mexico Borderplex for expansion
The Taiwan-based Hota Industrial Manufacturing, a manufacturer of automotive gears for North American and European clients including Tesla, has signed an agreement for a 30-acre parcel in the Borderplex - Westpark Industrial Park in Santa Teresa, N.M. with construction expected to begin in 2024. The company plans to invest $72 million in New Mexico with future expansions possible over the coming decade. A final agreement with the state of New Mexico for assistance with the Economic...
Shen Guorong of Hehe large company (1536) Reveals New Mexico as Finalized Location for Factory with 3 Billion Yuan Investment
Shen Guorong, the chairman of Hehe large company (1536), announced on the 30th that the location for the U.S. factory has been finalized. They will invest 3 billion yuan over the course of three years to prepare for comprehensive development in New Mexico. During the Dragon Boat Festival, Shen Guorong traveled to the United States in search of suitable land for the factory. The University assessed four U.S.-Mexico border states, revealing that California's land was expensive, Arizona had a...
Borderplex region company Visgence Inc., receives JTIP grant from NMEDD
The New Mexico Economic Development Department (EDD) has granted funding approval to facilitate the creation of up to 1,255 jobs through the Job Training Incentive Program (JTIP) for fiscal year 2023, resulting in the highest average wage ever recorded for the program, according to EDD Cabinet Secretary Alicia J. Keyes. A total of 72 companies across 21 communities in New Mexico have received assistance. The allocated amount for FY23 exceeds $16 million. JTIP encourages companies to offer...
Borderplex’s Franklin Mountain Packaging Announces New Mexico Expansion
The new facility is adjacent to Franklin Mountain Packaging's (FMP) current 140,000-square-foot building at 401 Avenida Ascencion, Santa Teresa, N.M. The company expects to add 60 employees in the next three years, bringing its total employee count at its New Mexico facilities to 155. The State of New Mexico is investing $500,000 from its Local Economic Development Act Job Creation Fund (LEDA) to support the expansion. This is the third announcement for businesses expanding to the New Mexico...
2022 New Mexico Borderplex Export Recap
The New Mexico export recap is generated by the International Business Accelerator, which tracks and analyzes the state’s worldwide exports. Companies based in New Mexico exported more than $4.8 billion worth of goods to 151 countries in 2022. This was a 12% decline from 2021, in which exports reach $5.5 billion, which was a record year for the state. The chart below shows New Mexico’s exports for the last 10 years and the percentage change from the previous year. Annual NM Exports to the...
