As Phoenix works to increase business ties with Mexico, Arizona’s largest international trading partner, the city is looking beyond the Mexican state of Sonora.
Phoenix remains committed to its trade office in Hermosillo, Sonora, while also focusing on Monterrey, the country’s third-largest city and a business hub in northern Mexico.
Consultant Antonio Proto works for Phoenix’s trade office and said Monterrey is critical, “Seventy percent of foreign direct investment that lands in Mexico lands in Monterrey. For both cities, we have direct flights from Phoenix. This helps us to be able to increase our economic development between both of those states and both of those cities.”
Proto said during the 2022-23 fiscal year, the Phoenix–Hermosillo trade office, assisted 166 businesses.
“Out of these companies, we had ten of those companies incorporate here in Arizona, with a physical address here in Phoenix, Arizona. And out of these ten, we’ve already had two companies that have located here to the city of Phoenix, and they've already signed lease agreements and they’ve already hired employees,” he said.
The two businesses are Necodex, a software company and Caffenio, a popular coffee shop chain based in Hermosillo. Caffenio opened regional offices and a lab where drinks are created but has not yet opened retail locations.
According to Phoenix’s economic development department, additional flights to Mexico from Sky Harbor Airport are being considered. The city says over the past decade, trade activity with Mexico has increased 50%.
Phoenix’s export activity breaks down as:
- 14% - aerospace and defense
- 10% - electronics
- 6% - mining
- 3% - medical devices
