Hota Industrial Manufacturing, a Taiwanese company specializing in auto parts, has announced its plans to invest $99 million into a new manufacturing facility in Santa Teresa, New Mexico. The project is expected to create 350 jobs and will be located on 30 acres of land near El Paso.
The company manufactures powertrain components for various vehicles including automobiles, motorcycles, and agricultural tractors. As a supplier for Tesla, Hota’s expansion into the Santa Teresa area will not only bring job opportunities but also contribute to the local economy.
Construction of the new facility is set to begin in 2024 with support from the state’s Local Economic Development Act (LEDA) Job-Creation Fund. In addition to this funding, Hota may also qualify for other incentives such as the High Wage Jobs Tax Credit and Manufacturers Investment Tax Credit. The company can also receive assistance through programs like Job Training Incentive Program (JTIP) for employee training.
According to Hota Chairman David Shen,the chosen location offers many advantages such as its proximity to major customers within one-day trucking distance.The area also boasts well-established transportation infrastructure that supports efficient logistics operations.Additionally,the utility supply is stable and cost-effective,making it an ideal choice for their business needs.
This recent development by Hota Industrial Manufacturing highlights their commitment towards growth while contributing positively towards economic progress in New Mexico.
