MCALLEN, Texas – As with other industrial regions of Mexico, Reynosa is benefiting enormously from the decision of manufacturing companies in Asia to move their plants back to the North American market.
This is the view of Humberto Martinez, the outgoing president of Index Reynosa.
Index is the leading trade association for the maquiladora industry.
“We have this 157 maquilas in Reynosa, employing 160,000 workers. We represent 52 percent of the economy in the state of Tamaulipas. And at the national level, we represent 62 of Mexico’s exports,” Martinez said, in an end-of-year interview with the Rio Grande Guardian International News Service.
As near-shoring gathers pace, Reynosa needs to build more factories and warehouses, Martinez explained.
“We need more buildings. We are here at the right time and in the right place in order to bring all the supply chain companies from Asia to the country of Mexico, And Reynosa, as you know, is one of the best cities to have the maquila industry.”
Martinez said Reynosa started to take advantage of near-shoring a couple of years ago, when supply chains were disrupted by the Covid-19 pandemic.
“We started a couple years ago, to bring the Asian Pacific suppliers to Reynosa,” Martinez said. “It is in process right now. It is working. But we need to have more buildings in order to bring more companies here.”
Martinez’s analysis mirrors that of Bryan Cook, a McAllen-based industrial real estate professional who works with maquiladora companies in Reynosa.
“Our local market here in Reynosa, Mexico, completed about 2.5 million square feet this year. That is about twice its normal upper end absorption,” Cook wrote on LinkedIn.
“As near-shoring drives demand near the United States’ southern border, warehouse demand in Mexico will hit a record level. Already, Prologis reports, expansions related to near-shoring comprised half of new leasing this year, with Monterrey, Juarez and Tijuana being the main beneficiaries.”
Editor’s Note: Here is the Guardian’s video interview with Martinez:
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