Investments and Job Growth on Horizon

The Mexican state of Yucatán is poised on the brink of a significant economic boom, with a string of investment initiatives lined up for the near future. Five new companies or plants are expected to commence operations, while three fresh investment announcements are also on the horizon. This flurry of economic activity is set to generate hundreds of jobs for local residents, injecting vitality into the state’s economy.

Yucatán: A New Investment Magnet

Ernesto Herrera Novelo, the Secretary of Economic Development and Labor (Sefoet), spotlighted Yucatán as one of the top three Mexican states pulling in nearshoring investments. The state stands shoulder to shoulder with Nuevo León and Coahuila in this aspect. Among the incoming investments is a project in the agroindustrial sector, which plans to export goods from the Progreso port to the United States, further strengthening international trade ties.

Infrastructure Development: The Key to Competitiveness

Herrera Novelo underscored the significance of infrastructure development in enhancing Yucatán’s competitiveness for investment. Critical projects in the pipeline include the elevated viaduct, the expansion of the Progreso Altura Port, and improved access to natural gas. These infrastructural advancements promise to make Yucatán an even more attractive destination for investors.

Economic Momentum Set to Continue

Despite the impending electoral ban, Herrera Novelo is confident that the economic momentum in Yucatán will not slacken. The need for job creation remains a high priority, and the incoming companies are expected to provide a significant boost in this regard. These new firms alone are projected to generate at least 2,000 direct and 6,000 indirect jobs. As Yucatán prepares for this economic upswing, the construction for the port expansion in Progreso is set to kick off soon. The dredging work has already been tendered, and the partial session of rights is slated for signing by the end of the month.