The Interoceanic Corridor has become a magnet for investments and an industrial catalyst, particularly through construction projects, in the states it encompasses.
According to deseasonalized figures from the National Institute of Statistics and Geography (Inegi), 19 out of Mexico’s 32 federal entities experienced annual growth in their industrial production last year.
Oaxaca Tops Industrial Growth
Oaxaca led the nation’s industrial growth in 2024, with an impressive 11.6% annual increase, driven by the construction of the Istmo de Tehuantepec railway and associated development projects shared with Veracruz.
Development Polos Along the Corridor
Along this corridor connecting the Pacific and Atlantic Oceans, 14 “Polos de Desarrollo para el Bienestar” (Podebis) are being activated. These plots, ranging from 80 to over 500 hectares, are set for development of automotive, energy generation, pharmaceutical, agroindustrial industries, and more.
Massive Investments Anticipated
Recently, Raúl Ruiz Robles, Oaxaca’s Secretary of Economic Development, told El Economista that the state hosts six development polos. Over 720 billion pesos in investment are expected over the next six years.
Competing Globally
This corridor aims to leverage the isthmus’s strategic position to compete globally in goods transport markets. Improvements include modernizing the Istmo de Tehuantepec railway, upgrading ports in Coatzacoalcos, Veracruz and Salina Cruz, Oaxaca, enhancing road and rural path infrastructure, strengthening port networks, and constructing a gas pipeline for both industrial and domestic consumers.
Industrial Growth Rankings
- Second Place: Durango (8.2% annual growth)
- Third Place: Colima (5.7% annual growth)
- Veracruz followed closely, ranking fourth with a 5.6% annual increase, largely due to the Istmo de Tehuantepec railway.
Notable increases over 2.5% were observed in Guanajuato, Guerrero, Puebla, Nuevo León, Estado de México, Querétaro, Baja California Sur, Tamaulipas, Hidalgo, and Yucatán.
Industrial Declines
However, the impact of large federal construction projects on regional industries from previous administrations faded. 13 entities saw annual decreases in their industrial production last year.
- Most Significant Decline: Quintana Roo (-20.2% annual decrease), due to the completion of the Tulum International Airport and Maya Train projects, heavily affecting its construction sector.
Tabasco followed closely with a 12.4% annual decline in industrial activity, influenced by mining, construction, energy generation, and manufacturing sectors.
Tabasco’s weaknesses were evident in petroleum extraction (due to low production and falling oil prices) and construction (impacted by the conclusion of Dos Bocas refinery and Maya Train work).
Additional decreases in industrial production were noted in Nayarit, Campeche, Sinaloa, Michoacán, Aguascalientes, Jalisco, Coahuila, Mexico City, San Luis Potosí, Tlaxcala, and Baja California.
