Second cycle, growing towards diversification

Second cycle, growing towards diversification

The cash register is reopened, and with it, the opportunity to recount the effort made by a government team that works under a common vision: that Aguascalientes has a full economic development.

A cycle of openings, expansions, constructions and projects that seek to position Aguascalientes as a prosperous state with specialized jobs, higher salaries and quality education.

In this period, despite external factors such as international trade agreements and the new federal government, Aguascalientes maintained an expectation of growth of 4.5%, ranking among the top states nationally, according to Citibanamex.

But one of the most relevant events in this period was the execution of projects that promoted economic diversification, an integral goal of the current government.

We see this reflected in the investments. In just two years, we are about to reach 2.1 billion dollars of Foreign Direct Investment, which is equivalent to 70% of what was generated in all the previous administration. This represents twice the state budget of expenditures, which is almost 22 billion pesos.

However, it is not the figures that stand out, but the background behind these investments. Companies such as Bosch, Voestalpine and Tech Mahindra generated new growth plans with Aguascalientes, providing specialized jobs to develop technology with global impact.

In addition, companies such as Donaldson, Calsonic Kansei, American Standard, among others, decided to continue trusting the state with new investments, which reflects the good business climate that is being promoted.

Only in 2018, there were 15 new companies with national and foreign capital that arrived, adding more than 2,148 high value-added jobs that lead us towards industry 4.0.

In total, there have been 39 new foreign companies in two years that come from different parts of the world such as Germany, India, Austria, China, United States and Thailand. Nations that strengthen the social development of the state and that have arrived as a result of the constant promotion of an attractive Aguascalientes for the international productive sector.

We continue to be the best place in Mexico to do business, according to the World Bank’s Doing Business study. But that is also a challenge that requires increasing the potential of our companies.

To achieve this objective, the Aguascalientes Financing System (SIFIA) has worked to improve opportunities for micro, small and medium companies. It created the new state financing scheme for the benefit of SMEs, which will offer a pool of up to 10 million pesos per project and the lowest rates on the market.

In addition, the program Economic Impulse and Employment Promotion was generated, which has one of the largest pools at national level despite the size of the state economy, with 710 million pesos to strengthen the local businesses. Education has been a priority and its link with industry and government has also been strengthened, with success stories in local universities, whose engineering firms have a job placement rate of over 90%.


Vision for the future


The projects generated in the state seek to have a long-term impact. The strategic plan to diversify the economy arose from a study formulated jointly with the Centro de Investigación y Docencia Económicas (CIDE). Now, the phase is to execute these projects, and the results begin to bear fruit.

When companies invest to set up or improve their presence in Aguascalientes, the confidence and certainty we give is reflected. It represents growth, development and more jobs: everything is economy. We will continue to work to strengthen these projects to improve the economic development of the state, not only in the current administration, but in the next 25 years” says Ricardo Martinez, secretary of Economic Development.