Aguascalientes is one of Mexico's premier industrial manufacturing hubs, especially for the automotive and capital goods sectors that demand advanced technologies. Despite a general uptick in industrial real estate vacancy rates nationwide, Aguascalientes boasts one of the lowest vacancy rates in the country, at 1.5%. According to data from SiiLA, this reflects the high demand for industrial spaces over the past four years.

In the short term, industrial activity in the region is expected to remain strong, driven by increased absorption rates and strong tenant retention. This is mainly due to the high level of pre-leasing in a highly sought-after market, where even speculative projects experience short marketing times. However, in the medium term, investment momentum might slow due to factors like a global economic recession, rising financing costs in Mexico, trade tensions between China and the United States, conflicts in European markets, and uncertainty surrounding the renegotiation of the USMCA in 2026.

Despite these challenges, Esau Garza de Vega, the state's Secretary of Economic Development, Science, and Technology, asserts that investment volumes in Aguascalientes' industrial market are on par with or exceed those of recent years.

"Aguascalientes has the advantage of growing in a planned and coordinated manner to meet market demands without exceeding infrastructure capacity. That's why we are very selective with projects," Garza de Vega explained in an interview with SiiLA REsource.

Garza de Vega identified seven factors driving the strength and resilience of investments in Aguascalientes:

1. Long-term investment and expansion plans by companies already established in the region, reflecting their confidence in the market. This includes close public sector support to streamline administrative processes and permits, address logistical needs, and extend incentives to attract new investments that strengthen existing value chains.

2. An active pipeline of over 40 investment and reinvestment projects, 16 announced this year, totaling 12 billion pesos (roughly 705 million US dollars).

3. Industrial infrastructure planning, including expanding energy capacity with the construction of five new substations and the upcoming opening of a local electric agency.

4. A focus on sustainability through the implementation of renewable energy, water treatment, and a commitment to the local community reinforces Aguascalientes' position as an attractive and responsible investment destination.

5. Talent development for industries, with collaborations between educational and research institutions and the public and private sectors to diversify the industrial base beyond the automotive industry into areas like information technology and aerospace. Approximately 13,000 engineers graduate each year in science, technology, engineering, and mathematics (STEM) fields.

6. Strategic location, placing Aguascalientes between central-northern Mexico and the Bajío region, a key industrial logistics hub with robust land transportation infrastructure that facilitates connectivity and operational efficiency for production and supply chains, attracting high-value-added investments.

7. Quality of life, safety, short commute times, and labor stability in Aguascalientes are additional factors that make the state a preferred investment destination.