Date
April 23-30, 2022
LocationS
Mexico City and Guadalajara, Mexico
Governor Cox led a business delegation to Mexico City and Guadalajara to strengthen ties between the two markets and identify new opportunities for bilateral trade. The business trip included meetings with Mexico City's Economic Development Office, INDEX Occidente, the Jalisco Tech Cluster, and many others.
This was the first governor-led delegation to Mexico since the pandemic began, and accompanying Gov. Cox were eight Utah companies and industry representatives: BioHive, Greenberg Traurig, Harris Bricken, Malouf Companies, OTW Safety, Reading Horizons, Romaric Corporation, and TETON Sports.
During the busy week, the delegation garnered $32.4M in new international business opportunities — $6.1M of which was from new projected manufacturing and sourcing from Mexico.
In 2021, trade between the two markets totaled nearly $6.7 billion — $5 billion of which was imported by Utah businesses from Mexico. Together, the two markets support the global automotive, chemicals, and electronics trade.
Utah has quickly become a hub for software, FinTech, and other technology firms seeking to branch out from the high costs of states like California. Mexico, and Guadalajara in particular, has its own growing tech cluster. As such, there are natural opportunities for the two to connect and grow tech ecosystems that benefit both countries.
