Introduction to Citelis and the Investment
On Thursday, a formal announcement was made regarding the first phase of a $100 million investment for infrastructure development in the Bajío Industrial Park, located in Michoacán. The announcement was made by Governor Alfredo Ramírez Bedoya during the morning press conference with President Claudia Sheinbaum.
Citelis, the real estate development and management arm of Cinépolis’ owners, is the first developer for this public-private infrastructure investment. Based in Morelia, Citelis is part of the Ramírez organization, well-known nationally and internationally for Cinépolis.
About the Bajío Industrial Park
The Bajío Industrial Park, situated in Zinapécuaro, Michoacán, is part of the 15 Polos de Desarrollo para el Bienestar (Podebis) strategy under the Plan México. This initiative aims to stimulate regional economic growth through industrial and logistical infrastructure, attracting private capital.
Citelis’ Confidence and Experience
Eduardo Ramírez Díaz, CEO of Citelis, stated during the conference: “As a 100% Mexican and family-owned company, Citelis has been investing in sectors like tourism, automotive, and real estate for over 30 years.”
Ramírez Díaz also mentioned that the Bajío Industrial Park already hosts successful private companies such as OXXO from Grupo FEMSA and international firms like MercadoLibre and Amazon.
He expressed confidence in the partnership between private initiative and state and federal governments, stating that this collaboration will make the Bajío Industrial Park a successful case study for industrial development in Mexico.
Support from the Local Industrial Sector
David Martínez, President of the Association of Industries in Michoacán (AIEMAC), voiced his sector’s support: “We are confident that Michoacán and Plan México are at their prime.”
Martínez, whose association represents 60 local industries, emphasized that the onus now lies with entrepreneurs to demonstrate the feasibility of large-scale projects.
Connectivity and Infrastructure
On July 30, the Bajío Industrial Park’s official announcement took place in Michoacán. Situated 35 km from Morelia, within the metropolitan area, this park spans 346 hectares and functions as an economic corridor, connecting Mexico’s Pacific coast with the Valle de México and North America, thanks to its strategic geographical position and multimodal infrastructure.
This investment complements the more than $13,000 million earmarked for Lázaro Cárdenas port expansion, as previously announced. The park is directly linked via rail to Lázaro Cárdenas port, where Hutchison Ports and APM Terminals are expanding their container terminals with a joint investment of $4,000 million.
Park Features and Incentives
The park provides 100% renewable energy from the geothermal power plants of Los Azufres and Infiernillo, with a capacity of 21.7 MW, water availability, natural gas installation viability, fiber-optic corridors, and 4G coverage.
- Aligned with the Podebis decree, the project offers tax incentives such as 100% deduction on fixed assets, five-year exemption from payroll tax, and benefits in property taxes, contingent on meeting investment and employment targets.
- Prioritized sectors include agroindustry, auto parts, metalworking, logistics, and pharmaceuticals. Eight letters of intent have already been signed by companies in these sectors, as reported by the federal Economy Secretariat.
Key Questions and Answers
- Q: Who is Citelis and what is their role in this investment? A: Citelis is the real estate development and management arm of Cinépolis’ owners, and they are the first developer for this public-private infrastructure investment in Michoacán’s Bajío Industrial Park.
- Q: Where is the Bajío Industrial Park located, and what is its significance? A: The Bajío Industrial Park is situated in Zinapécuaro, Michoacán, and serves as an economic corridor connecting Mexico’s Pacific coast with the Valle de México and North America, thanks to its strategic geographical position and multimodal infrastructure.
- Q: What sectors are prioritized for development in the Bajío Industrial Park? A: Prioritized sectors for development include agroindustry, auto parts, metalworking, logistics, and pharmaceuticals.
- Q: What tax incentives are offered for businesses investing in the Bajío Industrial Park? A: Businesses can benefit from a 100% deduction on fixed assets, payroll tax exemption for up to five years, and property tax benefits, provided they meet investment and employment targets.
