Coast Aluminum and Monti Inc. are the latest companies to bring dozens of jobs and millions in capital investment to New Mexico’s international Borderplex, according to the New Mexico Economic Development Department.
Coast Aluminum recently broke ground on a 73,500-square-foot distribution center in the Santa Teresa Binational Industrial Park, while Monti is working on an 80,000-square-foot renovation at a separate location in Santa Teresa.
Monti officials anticipate investing $14 million in New Mexico and employing 36 people at the site, which will serve as a regional hub for manufacturing and distribution of electrical components.
“These companies are choosing New Mexico because of our superior business climate that supports facility expansions through infrastructure assistance, while also helping workers get needed job training and tuition-free educational opportunities,” said Jon Clark, Acting EDD Cabinet Secretary.
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Both companies received state economic assistance to create jobs at the Borderplex, according to the NMEDD.
Melinda Allen, PresidentCo and CEO of the New Mexico Partnership, said Coast Aluminum is another “big win” for the state.
“Having a company with such widespread coverage throughout the Western U.S. and northern Mexico will strengthen the state’s supply chain logistics and help attract other industries needing these products for their production plants,” Allen said.
Coast Aluminum plans a $10 million expansion that will result in 37 jobs. The facility is expected to be complete by the end of the first quarter of 2024.
Jerry Pacheco, the New Mexico Partnership’s business advisor, said Monti is one of several companies to select Santa Teresa because of the region’s “impressive manufacturing talent and superior logistics capabilities.”
Other expansions in the Borderplex include Franklin Mountain Packaging, Louisiana Pepper Exchange, and the Taiwan-based Hota Industrial.