The New Mexico Economic Development Department declared that two more companies, Coast Aluminum and Monti Inc., were awarded state economic assistance, boosting manufacturing expansions and creating jobs at New Mexico's international Borderplex in Santa Teresa.
Coast Aluminum has laid the foundations for a 73,500-square-foot distribution centre in the Santa Teresa Binational Industrial Park, and the company distributes custom and in-stock aluminium materials and stainless steel, copper, brass and architectural metal products across multiple locations in the United States and Mexico.
New Mexico Governor Michelle Lujan Grisham has prioritized investing in the state's international border to improve infrastructure and expand global trade as part of the state's efforts to diversify its economy.
The Governor, Lujan Grisham, asserted: "The latest expansions to New Mexico are domestic companies who see the Borderplex as a strategic location for manufacturing. My administration's investments in this region are paying dividends with new jobs and sustainable growth as we create a manufacturing centre of excellence in Southern New Mexico."
Tom Clark, the President of Coast Aluminum, implied: "We chose to locate our newest facility in the Santa Teresa industrial base due to its close proximity to our existing customer base in the region and because of the great assistance from the New Mexico Partnership and the State of New Mexico."
The Economic Development Department (EDD) has committed $350,000 to support the $10 million expansion of Coast's Santa Teresa facility, which is expected to be completed by the end of Q1 2024 and will create 37 new jobs. Monti Inc., a US-based industrial component manufacturer, is renovating a site in Santa Teresa with $350,000 assistance from the state's LEDA fund. The facility will employ 36 people and serve as Monti's regional hub for manufacturing and distribution of electrical components. The Cincinnati-based family-owned business plans to invest $14 million in New Mexico.
Gordon Narburgh, VP of Sales & Marketing, Monti Inc., commented: "We are thrilled to announce the opening of our new location in Santa Teresa and look forward to bringing high-quality products closer to our customers."
"This expansion has been made possible by the hard work of our teammates, who are constantly focused on providing timely, excellent service with an unwavering commitment to customer satisfaction. We are especially thankful for our loyal customers who have partnered with us in our journey to become an acknowledged industry leader," Gordon concluded.
As businesses strive for growth and expansion, Monti has joined the ranks of companies that recognize Santa Teresa's abundant manufacturing talent and exceptional logistical capabilities. At the forefront of trade between the United States and Mexico, the Santa Teresa Port of Entry plays a crucial role in facilitating commerce, serving as a primary crossing that is unrestricted by weight or space.
Every day, the port clears a large number of commercial vehicles and private commuters, making it a vital link between the El Paso and Ciudad Juárez industrial regions. Thanks to the STPOE's remarkable performance, the number of commercial vehicles processed per hour has doubled in the last two years, with a new record set in 2022 by processing over 160,000 trucks.
The President & CEO of the Mesilla Valley Economic Development Alliance (MVEDA), which aided proper operations at the project, Davin Lopez, notified: "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 centre of trade for North America."
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