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New Mexico’s prosperous border town grows during a pandemic and seeks help to grow more

The border town of New Mexico saw record freight crossings last year and is thriving despite the effects of the pandemic and the rise in immigrants from Central America. Importance: The explosive growth of Santa Teresa, New Mexico, shows how strong international trade demand is on the US-Mexico border, despite the struggling retailers in border cities due to COVID-19. Is shown. Get the right market news for your time at Axios Markets. .. Subscribe for free. Between Lines: The small Santa Teresa port of entry requires extensive refurbishment to meet demand. This will be the intersection of two major Biden administration efforts. , And to contain the surge in immigrants at the border. The regular surge of immigrants seeking asylum in the United States diverts necessary border guards from Santa Teresa, slowing traffic and affecting production in industrial areas. Jerry Pacheco, chairman and chief executive officer of the Border Protection Agency, said US Customs and Border Protection officials are taking cargo and goods off the line to handle asylum seekers. ” According to state data, 60% of New Mexico’s global exports exceed Albuquerque, a city of 560,000 people. Exports saw a slowdown at the start of the pandemic in the industrial area just west of steel coils, livestock, electronic components and El Paso, Texas, but by July last year, Santa Teresa was unmatched from the south of the border. There was no level of truck traffic. .. The record surge highlights links to high-demand products such as wind turbine blades built in Ciudad Ju├írez, Mexico. Santa Teresa is developing a new industrial space of 1 million square feet, said Pacheco, a non-profit organization that runs an industrial park. He recently hired three Taiwanese companies and said he plans to announce a new international company later this year. The ever-growing Foxconn plant across the Mexican San Helonimo border manufactures Dell products for the US market. Recently, a factory for manufacturing gummy candies was opened. How it works: The Santa Teresa Industrial Park was founded in the late 1980s and is still unincorporated. The Border Industry Association operates as a quasi-local government composed of business leaders. Santa Teresa’s port of entry operates daily from 6 am to 10 pm and is less crowded than the crowded ports of entry in El Paso and other parts of Texas. Learn more From Axios: Sign up for the latest market trends at Axios Markets.Subscribe for free

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