Jalisco captured 38 percent more in direct foreign investment last year compared with 2021, according to preliminary data from the country’s Economy Ministry.
The figure of $US2.9 billion represents the highest total of annual foreign capital investment in Jalisco since 2015, the state government said.
In 2022, the United States plowed $US1.4 billion into the local economy, followed by the United Kingdom with $US660 million and Canada with $US358 million.
Mexico City attracted the lion’s share of foreign investment in Mexico last year, $US10.9 billion dollars, followed by the state of Nuevo León with $US4.4 billion.
The Financial Times defines direct foreign investment as “an investment in the form of a controlling ownership in a business, in real estate or in productive assets such as factories in one country by an entity based in another country.”
Announcing the encouraging news this week, Roberto Arechederra Pacheco, Jalisco secretary of Economic Development, said “foreign investment, in addition to generating training, new techniques and technology, generates an opportunity for a state’s companies to join the supply chains and generate greater economic growth.”
Additional economic data shows that Jalisco led the way in the creation of new “formal” jobs in 2022: 82,963. A formal job is defined as one that provides full benefits to employees, such as social security registration and paid holidays.