The State of Arizona today announced the strategic expansion of its presence and investment in Mexico with the launch of the Arizona State Trade and Investment Office.
The grand opening of the Arizona office located in Mexico City was the culminating event of an Arizona-led trade mission conducted this week to strengthen the state’s relationship with its number one trading partner. During the mission, Arizona’s delegation met with Mexican government officials at the federal and state levels as well as private sector business leaders to discuss bi-lateral collaborations in key areas including: Economic Development, Trade and Innovation; Infrastructure and Corridor Competitiveness; and international Tourism.
The Arizona State Trade and Investment Office in Mexico will be led by the Arizona Commerce Authority (ACA), in partnership with the City of Phoenix, and additional funding partners including Maricopa Association of Governments, the City of Tucson and Visit Phoenix. With the support of Governor Jan Brewer and the state legislature, Arizona has made a commitment of $300,000 to the ACA to establish and manage the office, which will create a platform for businesses in both countries to expand their international trade and foreign direct investment opportunities.
“Since becoming governor, I have made it my mission to enhance Arizona’s global competitiveness, support job growth and secure our economic vitality long into the future,” said Governor Brewer. “Our continued success in this mission will depend greatly on our ability to seize business and investment opportunities on an international scale. Expanding our presence in Mexico – by far our largest trading partner – will strengthen crucial economic ties, promoting economic development and contributing to high-paying jobs for Arizonans.”
Mexico is a growing world market, as well as Arizona’s most important trading partner. In 2013, trade generated between Arizona and Mexico exceeded $14 billion. Mexico is the world’s 14th-largest economy, and is projected by Goldman Sachs to be the fifth-largest by 2050.
Arizona’s trade office in Mexico will assist Arizona companies in successfully entering the Mexican market and attract new companies and investments that will contribute to the state’s economy to create high-wage jobs. The office will have a keen focus on targeted sectors that include aerospace & defense, medical devices, biosciences and innovation.
“This represents a significant milestone in building and strengthening a prosperous relationship between two trading partners that share a great deal of synergy, resources and geographical proximity,” said Sandra Watson, President and CEO, Arizona Commerce Authority. “We look forward to working with our partners in Arizona and Mexico to execute a unified strategy to advance a sustainable trade ecosystem that drives innovation, job creation and international commerce for both countries.”
“It’s time that we fundamentally change our relationship with Mexico to one of shared economic opportunities,” said City of Phoenix Mayor Greg Stanton. “Our trade office is a tremendous step in the right direction.”
“Tucson is fully committed to increasing trade relations with Mexico and our having a presence in Mexico City can only further that goal,” said Tucson Mayor Jonathan Rothschild.
“The Maricopa Association of Governments (MAG) has been working on a number of initiatives to help foster economic opportunities with Mexico,” said MAG Chair Michael LeVault, Mayor of Youngtown. “Arizona’s trade and investment office gives us a physical reality that extends beyond our 400-mile border. We believe this move will help us attract a larger share of the growing Mexican middle class and help us take advantage of new opportunities to enhance trade.”
Arizona’s new trade office builds upon the state’s current engagement in Mexico by complementing Arizona’s existing office in Hermosillo, Sonora, which is a collaboration between the ACA and the Arizona-Mexico Commission.
The ACA has secured Marketing One to assist the ACA with its economic development activities in Mexico. The Mexico City-based consulting firm has detailed knowledge of the Mexican market including more than 30 years total of international trade development experience. Victor Aguilar, Managing Director and President of Marketing One, and his team serve as Arizona’s representatives in the Arizona State Trade and Investment Office. The office will have a dedicated staff of international trade experts that will include an office director, trade consultants and specialists responsible for enhancing trade and foreign direct investment, as well as generating quality business leads and creating strategic outreach to key stakeholders throughout Mexico.
The Arizona State Trade and Investment Office is located in the Colonia Juárez neighborhood of Mexico City near the Paseo de la Reforma. The address is Hamburgo 231, Col. Juárez, C.P. 06600, México, D.F., México.