SAN DIEGO (Border Report) — During the next three years, Home Depot will invest $3.3 billion in Mexico and generate 12,000 direct and indirect jobs.
The company’s general manager, José Antonio Rodríguez Garza, made the announcement during Mexico President Claudia Sheinbaum’s daily news conference on Thursday morning in Mexico City.
“Today we’re here to take the next step and I’m filled with pride that we will continue to invest and grow in this country,” Rodríguez Garza said. “This investment reflects what we’ve been doing for more than 23 years.”
Currently, Home Depot has 18,000 workers in Mexico at 140 stores in 100 cities across Mexico.
The company says 80% of its products sold in Mexico are manufactured or supplied by firms south of the border, and that by 2028, the number will be 100%.
“This investment reflects our commitment and our confidence in Mexico,” Rodríguez Garza said. “We plan to open five stores per year with a total of 165 in the future.”
The head of Home Depot also said that for every direct job created by the company, four indirect positions are generated as well.
“We have more than 18,000 employees in Mexico, this helps the Mexican economy greatly, and with this investment, we’re going to identify, develop and integrate more local suppliers into our supply chain not just in Mexico but in the United States and Canada.”
Sheinbaum lauded Home Depot’s goals in Mexico saying it brings high paying jobs to the country.
“These jobs also help provide basic rights such as housing, health and education, this will bring more prosperity to Mexico,” she said.
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