The Role of Southern New Mexico in the Economy

The Federal Reserve Bank of Dallas, El Paso Branch, in partnership with the College of Business at New Mexico State University, presented “the Role of Southern New Mexico in the Economy Conference” More »

Governor Martinez Celebrates the Success of IBA Client, Southwest Steel Coil

On September 19, IBA client and SBA Region Five Exporter of the Year, Southwest Steel Coil (SSC), held an open house for the public to view their latest expansion in Santa Teresa. More »

Roundtable Discussion with Congressman Steve Pearce at Santa Teresa Country Club

On August 19, the IBA assisted in coordinating a roundtable discussion with U.S. Congressman Steve Pearce in Santa Teresa. Homebuilders and developers from the Santa Teresa/Sunland Park region were invited to participate More »

IBA Helps Coordinate Governor Susana Martinez’s Visit to Santa Teresa

On July 25th, the IBA helped coordinate a visit by Governor Susana Martinez and New Mexico Economic Development Department Secretary Jon Barela to Santa Teresa. These officials were in town to announce More »

Governor Susana Martinez Celebrates Opening of Expanded Santa Teresa Port of Entry and Welcomes 15 New Jobs to Border Region

Governor Susana Martinez joined Chihuahua Governor César Duarte and other government officials on May 24th at a ribbon cutting ceremony to officially open the expanded Santa Teresa Port of Entry. More »

 

March 2014 Monthly Article – Déjà Vu

By Jerry Pacheco

The current economic situation in Mexico reminds me of what was going on in this country in the early 1990s. At that time, Mexico had fully committed to opening up its economy and opting for trade liberalization. It had a young president who was openly supportive of commerce and of foreign direct investment in his country. A wave of privatization, reversing the trends in the 1980s, was sweeping the country as it opened up its telecommunications and financial industries. The North American Free Trade Agreement was implemented in 1994 and Mexico was going full force ahead to create a modern economy. Perhaps more than anything, there was a spirit of change and excitement in the air.

Fast forward 20 years and this same feeling seems to be in the air, as the Mexican economy grows and change is happening daily. Since taking office at the end of 2012, Mexican President Enrique Pena Nieto has presided over historical changes, which include restructuring the educational system, creating fiscal reform and privatizing the nation’s petroleum industry. The drug violence has substantially subsided and as an added bonus, the world’s most notorious drug lord, Joaquin “El Chapo” Guzman, was recently captured by Mexican security officials after years on the lam.

February 2014 Monthly Article – Export Review

By Jerry Pacheco

According to the U.S. Department of Commerce, U.S. exports to the world topped $2.3 trillion – this is the fourth consecutive year that this figure has set a new record. Exports have increased by more than $700 billion since 2009. The increase in exports helped decrease the nation’s trade deficit, which now stands at $471.5 billion, by $63.1 billion. This is the lowest trade deficit the U.S. has had in five years.

According to U.S. Commerce Secretary Penny Pritzker, “U.S. goods export sectors reached all-time highs across the board in 2013, including key industries such as automotive, industrial supplies, consumer goods, capital goods, and petroleum. Imports of goods decreased for the first time since 2009.” Notable areas of increase include consumer goods, automotive, industrial supplies, capital goods and petroleum. Even though it was by a small percentage, for the first time in five years, imports into the U.S. actually decreased – down by 0.1 percent.

February 2014

In the summer of 2011, the New Mexico Small Business Development Center (NMSBDC) teamed up with the U.S. Small Business Administration, through the Small Business Jobs Act of 2010, to launch the Gateway to Exporting Program. The program, which ended in December 2013, was aimed at developing foreign markets for New Mexico’s small businesses, and increasing their capabilities to export their products and services.

The funding provided by this program was valuable in allowing the IBA to expand its consulting services throughout New Mexico in order to assist small businesses identify and export to foreign markets. As can be seen below, the two-and-a-half years of the Gateway to Exporting Program were a success, with more than $16 million in documented exports, 16 companies that exported, and 133 that investigated exporting.

The following are the highlights of the Gateway to Exporting Program:

  • $16,296,189 in documented exports
  • 16 companies that exported with program assistance
  • 133 companies that investigated exporting
  • 96 companies that were counseled in the program, of which 64 were new to export
  • 23 contracts with foreign buyers that were acquired for companies registered in the Gateway Program
  • 26 workshops and webinars that were managed by the IBA to promote the Gateway Program – 3,343 people participated in these events
  • 19 company specific trade missions to foreign countries that were conducted for Gateway clients by IBA staff
  • 20 documented new jobs that were created due to the Gateway Program

The IBA wishes to thank the SBA for being a great partner in this effort and to all of the companies that took the plunge to study and enter prospective foreign markets.

 

jerry-sig