Coahuila has overcome the “investment drought”
Coahuila, an state at the North of Mexico, was a great point for new businesses and investments; however, this part of the country faced difficult times for more than a decade, due to different issues that were holding investors from coming to this state and trying to invest their money; however, this “drought” is finally over, and after 12 years of low investments, Coahuila has been once again a point of interest for new investments.
“Coahuila is a great part of Mexico to invest on, the infrastructure, manpower, and closeness to the United States, makes this part of the country ideal to start new growing businesses, Laguneros are great people to work with, and the companies are noticing this more than ever, making this state very eligible to open new commerce”, said Salomon Juan Marcos Villarreal, president of Grupo Denim, a jeans manufacturer company in Mexico.
John Deere and Caterpillar were some of the last huge enterprises installed in Torreon from 2002 to 2004, meaning that for 12 years there were not big companies getting closer to Coahuila, but in 2016, enterprises such as Yura Hiungson, Lear Corporation and Yazaki have shown their interest in investing on the north part of Mexico.
Jaime Russek, director of Desarrollo Económico in Torreon, a City in Coahuila has informed that what used to be a “disadvantage” for this part of Mexico has been some of the greatest competitive advantages now, such as cheaper ground than many other sectors in Mexico, qualified manpower, and lower rates than most of the other competitive cities.
The new investments have meant an important increase of job sources in Coahuila, with a decreasing unemployment rate that passed from 7.1 to 5% only, which has made them get into the national range average. Back in 2008, Torreon, one of the main cities in Coahuila, has kept one of the highest unemployment rates, which is changing with these new companies coming to the north part of Mexico. Yura, for example, will create 4,000 more employments, Hiungson 700 and Yazaki 600 more.
These new job sources will be available for many people looking for a job, which will mean another important decrease to the unemployment rates in Coahuila
“I personally like to see how Coahuila keeps on growing up, investors are considering this part of Mexico seriously once again, which are great news for people at Coahuila and Durango too, as both states keep a very close business relationship”, added Salomon Juan Marcos Villarreal about this topic.