## Industrial Sector in Baja California Predicts Moderate Growth Towards End of 2024
The industrial sector in Baja California is set for a “moderate” year-end in terms of growth, largely influenced by the economic slowdown in the United States. According to Héctor Alejandro Jaramillo Osuna, President of the National Chamber of the Transformation Industry (Canacintra) in Tijuana, the sector’s growth might remain subdued, with some instances of deceleration anticipated.
Jaramillo Osuna highlighted that several manufacturing plants (maquiladoras) in the region have had to lay off employees due to a dip in demand from the United States. The automotive and construction industries in the U.S. have been notably impacted, culminating in reduced consumption and lower demand for products from Baja California.
One significant development is the closure of LG’s Mexicali plant, which employed about 800 staff members. The company decided to shut the plant after experiencing a decline in product sales, as confirmed by the Secretariat of Economy last year.
Jaramillo Osuna mentioned the pervasive atmosphere of change at local, national, and international levels, contributing to investment hesitation. This uncertainty is exacerbated by imminent judicial reforms in Mexico, which impact the financial institutions meant to fund these investments.
“Public policies during this period are crucial,” Jaramillo Osuna emphasized, warning that inappropriate policies could further deter investments. He also pointed out that high interest rates in the United States have particularly influenced the automotive and construction sectors, reducing their consumption levels.
Lastly, Jaramillo Osuna reiterated that unless these sectors witness a resurgence, Baja California’s industrial environment will continue to face demand volatility.
### Secondary Article: **Baja California’s Industrial Sector Braces for Potential U.S. Recession**
The Baja California industrial sector remains vigilant amid signs of a potential recession in the United States. Industry leaders are keenly observing economic trends, preparing for shifts that might affect regional production and employment.
The focus is on enhancing regional supply chains to support Baja California’s maquiladoras, aiming to boost local sourcing and diminish reliance on foreign components. This initiative is seen as crucial for mitigating the impact of economic uncertainties.
Additionally, some maquiladoras have adapted their hiring practices owing to workforce challenges. There have been reports of these factories being more lenient in their hiring criteria, even accepting candidates who might not meet traditional employment standards.
These proactive measures are pivotal for the sector to navigate through economic adversities and maintain a level of operational stability.
Stay tuned on TJGringo.com for more updates on Baja California’s economic landscape.