Copyright © 2020 Albuquerque Journal
Another Taiwan-based manufacturing company is setting up shop near New Mexico’s southern border.
The New Mexico Economic Development Department announced Monday that Cymmetrik, which produces labels and electronic barcodes for manufacturers, has signed a lease to establish a manufacturing center in Santa Teresa.
The company is moving into an existing building at 150 Earhardt Way and plans to hire 10 employees, according to Melinda Allen, interim president for the New Mexico Partnership.
The state awarded $160,000 to the company under the Local Economic Development Act.
Jerry Pacheco, executive director of the International Business Accelerator and president of the Border Industrial Association in Santa Teresa, said Cymmetrik is the third Taiwanese manufacturer to locate in or near Santa Teresa in the last 18 months, following Admiral Cable and Xxentria Technology Materials Co. He said the cluster of Asian manufacturers has helped the border community grow quickly during that period.
As foreign manufacturing companies look to move operations closer to customers and partners in the wake of the COVID-19 pandemic, Pacheco said he expects New Mexico, which provides easy access to much of the U.S. and Mexico, to remain an attractive destination.
“These companies want to be closer to their buyers, which is a hedge against any kind of disruption,” he said.
Attracting global manufacturers to New Mexico was a state priority before the pandemic began. Global trade is one of the state’s nine key industries selected to diversify the local economy.
Allen said state officials made a trade visit in Taiwan in 2019, which helped draw interest among manufacturers there.
“That visit really was the catalyst to open the door for these taiwanese companies to come and locate in New Mexico,” Allen said.
Pacheco added the arrival of Admiral Cable, which broke ground on a Santa Teresa expansion in 2019, has made the region more attractive to Taiwanese companies with similar needs.
“Marketing to … Taiwan, you notice how close-knit the manufacturing community is,” Pacheco said.
He added that Santa Teresa’s easy access to the United States-Mexico border and large base of manufacturing suppliers were also attractive to Cymmetrik and other companies that have expanded to the region.
More recently, Allen said the pandemic has disrupted supply patterns and prompted foreign manufacturers to look at multiple smaller hubs closer to existing markets rather than a centralized manufacturing hub. New Mexico could be a good fit for these manufacturers going forward.
“We’re strategically located to be able to really help those companies find those solutions,” Allen said.