Mexico’s President Claudia Sheinbaum has unveiled a groundbreaking 30 billion peso ($1.4 billion) nearshoring incentive package designed to solidify the nation’s role as a critical hub in North American supply chains. This initiative, part of the broader "Plan México," aims to attract investment, foster innovation, and enhance workforce capabilities, positioning Mexico as a leader in regional economic integration.
Key Highlights of the Nearshoring Program
Investment Focus:
The program dedicates 28.5 billion pesos for investments in new fixed assets and 1.5 billion pesos for training and innovation efforts.
Tax Incentives:
Companies investing in Mexico can benefit from tax deductions ranging from 35% to 91%, depending on their type of expenditure.
Eligibility and Timeline:
The incentives are available until September 30, 2030, with applications reviewed by a newly established federal committee.
Strategic Goals
President Sheinbaum emphasized that the initiative is designed to:
- Reduce dependence on imports, particularly from China.
- Strengthen regional supply chains across North America.
- Create jobs and stimulate domestic economic growth.
Unlike similar global initiatives, such as the U.S.'s Inflation Reduction Act, Mexico’s program broadens eligibility to all industries that align with its goals. This inclusivity encourages not only foreign investment but also empowers domestic companies to integrate into regional supply chains.
Why It Matters
This move comes at a pivotal moment as global supply chains undergo realignment due to geopolitical tensions and economic shifts. By leveraging its strategic location and skilled labor force, Mexico is positioning itself as a key manufacturing hub for North America. The nearshoring incentives are expected to attract multinational corporations while fostering innovation and resilience within the country’s economy.
With this ambitious plan, Mexico is signaling its commitment to becoming a cornerstone of economic transformation in the region.