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Mexico has emerged as a key destination for the manufacturing of electronic components, with Foreign Direct Investment (FDI) surpassing $7.8 billion over the past two decades. Leading this investment are countries such as the United States, South Korea, and Taiwan.

Significant investment hubs include Baja California, Tamaulipas, and Jalisco, according to the Secretar铆a de Econom铆a.

• Expanding Manufacturing Hubs
• Soaring Demand in the Electronics Manufacturing Sector
• Expanding Production Lines in Mexico
• New Investments
• Nearshoring Incentives in Mexico

Expanding Manufacturing Hubs

While traditional centers like Baja California, Tamaulipas, and Jalisco remain crucial, the Mexico manufacturing landscape is expanding to other regions including Mexico City, Chihuahua, and San Luis Potos铆. This shift is a testament to the evolving industrial dynamics. From January to September 2023 alone, the sector attracted $206 million in FDI.

Data from the Instituto Nacional de Estad铆stica y Geograf铆a (INEGI) shows that cities such as Tijuana , Ciudad Ju谩rez, Nogales, Mexicali, and Tecate have become major industrial hubs over the last decade. Other important locations include Hermosillo, Agua Prieta, and Magdalena in Sonora; Zapopan and Tlaquepaque in Jalisco; Reynosa and Matamoros in Tamaulipas; Apodaca, Guadalupe, and Monterrey in Nuevo Le贸n; and various cities in Quer茅taro, Mexico City, State of Mexico, and Coahuila.

In 2022, the National Statistical Directory of Economic Units (DENUE) recorded 487 companies involved in the production of electronic components, with 239 of these generating over 100 jobs each.

Soaring Demand in the Electronics Manufacturing Sector

The manufacturing sector's robust expansion is not only reflected in government statistics but also in the thriving operations of international giants. Regions such as Baja California and Monterrey are experiencing exceptional growth in electronics manufacturing. Companies operating in these areas are forecasting significant increases in production and sales, driven by the escalating demand for electronic components and devices.

In Baja California, the electronics manufacturing sector is projected to grow by 35% over the next two years, significantly boosting the local economy. For instance, Flex, a global electronics manufacturer, has a substantial presence in Tijuana and is thriving. The company continues to expand its operations, producing a wide range of electronic components and devices for various industries, including automotive and consumer electronics.

Similarly, Monterrey, known for its industrial prowess, is seeing a surge in investments, with projections indicating a 30% increase in electronics manufacturing output by 2024. A notable example is Samsung, which operates a major manufacturing facility in Monterrey. The facility is a key part of Samsung's supply chain, producing advanced electronic components that are crucial for their global product lineup.

These regions are becoming crucial hubs for advanced manufacturing in Mexico, particularly in the automotive sector, where electronic components are increasingly vital. The surge in electric vehicle production underscores the importance of these manufacturing centers. This trend highlights the strategic success of these regions and underscores the broader dynamism and potential of the electronics manufacturing sector in Mexico.

Expanding Production Lines in Mexico

LG Electronics is making waves in Mexico's booming electronics manufacturing sector. In January 2024, LG announced a major expansion with a new scroll compressor production line at its Monterrey plant. This strategic move highlights the advantages of setting up manufacturing in Mexico under the Mexico Shelter Services, which offer streamlined processes and cost efficiencies for foreign companies.

With U.S. HVAC manufacturers grappling with various challenges, LG's Monterrey facility is poised to become a vital player in the North American market. The compressors produced here not only meet stringent environmental standards by using low-global-warming-potential refrigerants but also incorporate cutting-edge, energy-efficient technology. This expansion reinforces Mexico's position as a premier destination for manufacturing, showcasing the benefits of Mexico Shelter Services and the strategic advantages of setting up manufacturing operations in Mexico.

The growth of LG Electronics in Monterrey underscores the region's significance as a manufacturing hub, contributing to the dynamic and rapidly expanding landscape of electronics manufacturing in Mexico. This development is a testament to the region's ability to attract and support major international players, bolstering its reputation as a critical node in the global supply chain.

New Investments

Mexico continues to attract significant foreign investment in the electronics manufacturing sector, solidifying its status as a prime destination for manufacturing. Recently, Time Interconnect Technology Limited announced a substantial $40 million investment in a new plant in Reynosa, Tamaulipas. This state-of-the-art facility will produce copper and fiber optic cables, catering to telecommunications, data centers, industrial equipment, medical devices, and the automotive industry.

Meanwhile, ELRAD Electronics has committed over $12 million to establish a manufacturing plant in Guanajuato. This facility will focus on producing printed circuit board assemblies for the automotive and household appliance industries, further diversifying Mexico's manufacturing capabilities.

Additionally, IKOR has made a significant investment of up to 2 billion pesos in Tlajomulco, Jalisco. This investment is directed towards designing and manufacturing advanced electronic circuits, reinforcing the region's growing reputation as a hub for high-tech manufacturing.

These new investments highlight the growing appeal of setting up manufacturing operations in Mexico, thanks to its favorable business environment, strategic location, and skilled workforce. The influx of foreign capital is transforming Mexico into a powerhouse for electronics manufacturing, driving innovation, and economic growth.

Nearshoring Incentives in Mexico

The electronics sector is one of the biggest beneficiaries of the federal government鈥檚 nearshoring attraction plan announced in late 2023. This strategic initiative aims to boost foreign investment in Mexico by offering substantial fiscal incentives for various activities, including design, manufacturing, assembly, testing, packaging, and research.

The incentives include:

• 56% for machinery and equipment used in the manufacture of pharmaceutical drugs, antiseptic products, electronic medical equipment, laboratory instruments, and diagnostic and radiotherapy equipment.
• 76% for machinery and equipment used in the production of electronic components such as circuits, capacitors, resistors, connectors, and semiconductors, as well as related processes like coils, transformers, computer modems, telephones, and harnesses.
• 86% for machinery and equipment used in the manufacture of electrical and electronic equipment related to systems such as steering, suspension, brakes, transmission, interior accessories, and stamped metal parts for various vehicles, including cars, trucks, trains, ships, and aircraft. This also applies to the manufacture, assembly, or transformation of batteries for electric vehicles.

These nearshoring incentives are designed to make Mexico a more attractive destination for foreign companies, further enhancing its reputation as a key player in the global manufacturing landscape. By leveraging these incentives, companies can significantly reduce their operational costs and take advantage of Mexico's skilled workforce and strategic location, making it an ideal choice for expanding their manufacturing footprint.

Conclusion:

Mexico is strategically positioned to take advantage of the global electronics market. The country鈥檚 robust manufacturing sector attracts significant investments, fosters infrastructure development, and generates employment. Economic indicators point to continued growth in 2024 and beyond.

Are you interested in starting manufacturing operations in Mexico?

Contact CPI today to learn more about the opportunities and benefits Mexico offers for electronic manufacturing. Reach out to us now and take the first step toward expanding your business!