TAB Solidifies Economic Partnership with Nuevo León to Kick Off SXSW

On Monday, TAB President & CEO Glenn Hamer was proud to host a SXSW panel discussion with the Governor of Nuevo León, Samuel Alejandro García Sepúlveda, followed by the signing of a new Memorandum of Understanding (MoU) between TAB and the state of Nuevo León. This historic agreement will further strengthen the Texas business community’s ties to the economic and manufacturing powerhouse of Nuevo León, marking a new era of economic prosperity for both sides of the border, underscoring the importance of fostering cross-border partnerships.

Nuevo León, strategically positioned in North America, has recently emerged as an epicenter of economic opportunity and job growth – creating more jobs than any other state in Mexico for the first two months of 2024. With a robust infrastructure and a skilled and educated workforce, the state has become a magnet for nearshoring endeavors. In fact, Nuevo León boasts around 76% of Mexico's nearshoring activities and over 4,500 foreign-owned companies, including automotive giants like KIA and Tesla, IT leaders like Lenovo and IBM, and renowned brands like Amazon and Hershey’s. Multinational corporations across various sectors have succeeded in Nuevo León, driving economic growth and establishing it as a premier nearshoring destination – benefitting many Texas companies that rely on access to manufacturing operations south of the border.

Governor García's leadership has not only attracted foreign investment, but has also elevated employment prospects, educational standards, and investment security in Nuevo León. Nuevo León has transformed into an economic powerhouse, driving growth and innovation in the region, and TAB is excited to partner alongside Governor García to utilize this momentum to further economic prosperity for people on both sides of the border and create more job opportunities for each state's ever-growing talented workforce.

However, the significance of this partnership extends beyond economic metrics. It also encompasses cultural exchange and educational collaboration, promising mutual enrichment for both communities.

On Wednesday, Governor García met with University of Texas at Austin President Jay Hartzell to discuss their mutual priorities in building engines for economic growth though educational exchange. This connection is particularly significant given the success of Tec de Monterrey, which has emerged as a gold standard for technology-focused universities around the world, and has already established an important strategic cybersecurity education partnership by offering a dual-degree program with the University of Texas at San Antonio (UTSA).

Additionally, the announcement this week of a brand new nonstop flight between Austin and Monterrey operated by Viva Aerobus is a practical outcome of this partnership. This direct link not only facilitates more accessible travel but also streamlines the process of cultural interchange, further enhancing economic ties between our two regions. One of the key drivers behind this new route, according to Viva Aerobus CEO Juan Carlos Zuazua is the development of new Tesla Gigafactories in Austin and Monterrey. "Very soon, all the people who are going to be working and developing the most vibrant gigafactory from Tesla are going to be flying from Austin to Monterrey," Zuazua said on Monday.

These types of exchanges are among many examples that demonstrate how Texas and Nuevo León are making a concerted effort to strengthen our economic relationships. By leveraging each other's strengths and resources, both Texas and Nuevo León stand to benefit immensely, driving sustainable prosperity for years to come. As we move forward together, we should continue to embrace this strategic partnership and continue to foster a relationship built on mutual respect, a spirit of collaboration and a shared vision where people and businesses on both sides of the border can succeed.

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