Auto parts supplier spends $99 million to begin manufacturing in New Mexico

Hota Industrial Manufacturing has announced plans to begin manufacturing in Santa Teresa, New Mexico. The company, which supplies auto parts, will invest $99 million into the project, generating 350 new jobs. The new facility will be located on 30 acres of land, and construction is expected to begin in 2024. Hota received $3 million from the state’s Local Economic Development Act (LEDA) Job-Creation Fund and may qualify for additional incentives like the High Wage JobsTax Credit, the Manufacturers Investment Tax Credit, and job-training assistance through the Job Training Incentive Program (JTIP).

In a recent quote, Hota Chairman David Shen said, "Hota has picked Santa Teresa as its next manufacturing site based on various comparison analyses among the states on the US-Mexico border. Its location makes it a one-day trucking distance to many of our main customers. Transportation infrastructure is in place to support the logistics of our goods and services. Utility supply is stable and relatively inexpensive. Labor costs are currently the lowest among its neighboring states. Another important thing is that New Mexico has no major natural disasters. Most importantly, the fast responsiveness and support from the state officials have enhanced our decision and confidence to go to New Mexico. We believe that the state government will offer the assistance and incentives needed for us to run our business there."

Investing in American Manufacturing - 2023

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