Economy
Northeastern Mexico plays a national leading role in fields such as aeronautics, the automotive industry, biotechnology, information and communication technologies, the pharmaceutical industry, software development and steel production. Monterrey is a major industrial and business center in Mexico; it is home to transnational conglomerates such as Cemex (the world's largest cement company; FEMSA; Ternium; Grupo Alfa (petrochemicals, food, telecommunications and auto parts); Axtel (the second-largest telecommunications company in Mexico); Vitro (glass manufacturer); Gruma; and Banorte (financial services). Many international conglomerates such as LG, Samsung, HP, Microsoft, Hyundai and Lenovo have regional headquarters and manufacturer plants in Nuevo León as well. Coahuila also has strong manufacture-oriented export economy; Saltillo, its capital city, has a growing automobile industry, hosting General Motors and Chrysler assembly plants, two engine facilities and a car transmissions plant. 37.4% of cars and 62.6% of trucks produced in Mexico are assembled in Saltillo. Saltillo is home to the Grupo Industrial Saltillo, a manufacturing conglomerate that makes home appliances, silverware, and auto parts. Torreón, the largest city of Coahuila, has a prominent also an iron, manufacturer and steel industry, and home to important conglomerates such as Delphi and (John Deere, Metzeler, Jhonson Controls, Takata, Caterpillar). Monclova stands out for the highest production of steel in Mexico and is seat of Altos Hornos de México (AHMSA). The state of Tamaulipas also has a maquiladora and manufacture export-oriented market, also it has an important agriculture industry; its largest city is Reynosa, closely followed by Matamoros and Nuevo Laredo, all of which are border cities, and are economically similar. Tampico is another important city and port of Tamaulipas. Foreign direct investment in Northeastern Mexico was 1,742.4 million USD for 2005. The region is, along with Northwestern Mexico, one of the fastest growing regions in Mexico.
Read more about this topic: Northeastern Mexico
Famous quotes containing the word economy:
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)