Overview of The Home Depot’s Expansion in Mexico
The American retail giant, The Home Depot, has announced a $120 million investment in Guanajuato, Mexico, to open three new stores. This strategic move is part of their broader plan to expand in Mexico with 25 new stores nationwide, totaling an investment of $1.3 billion.
Store Locations and Job Creation
The new stores will be located in San Miguel de Allende (2026), León, and Guanajuato Capital (2027). This investment is expected to generate 300 direct jobs and approximately 1,200 indirect jobs, as stated by José Rodríguez Garza, President and CEO of The Home Depot Mexico. For every direct job created, four indirect jobs will be generated in the supply chain and services.
Supporting Local Businesses
The Home Depot emphasizes its commitment to local businesses, with 85% of its suppliers being Mexican companies. The retailer collaborates with local enterprises to develop their own brands, offering opportunities for small and medium-sized businesses (SMEs).
Community Engagement and Local Impact
Mauricio Trejo Pureco, the mayor of San Miguel de Allende, acknowledged The Home Depot’s arrival as a significant competitor to local businesses like Don Pedro, the large hardware store chain. However, he believes that this competition will lead to price adjustments, ultimately benefiting San Miguel de Allende residents and neighboring communities like Dolores Hidalgo and San Diego de la Unión.
- Job Quality: The mayor requested that The Home Depot prioritize quality employment, hiring both young adults and experienced workers, including women and seniors, ensuring local talent is represented.
- Artisan Collaboration: Trejo Pureco suggested incorporating a dedicated space in the stores to showcase and sell local artisan products, fostering collaboration between The Home Depot and the community’s artists.
- Architectural Design: The mayor urged the company to design stores that respect and complement San Miguel de Allende’s architectural heritage, potentially setting a standard for the 2,400 Home Depot stores worldwide.
Industrial Development in Guanajuato
Claudia Cristina Villaseñor Aguilar, Guanajuato’s Secretary of Economy, highlighted that this investment will activate value chains across the region. She mentioned that Guanajuato already has robust and professional supply chains ready to integrate with The Home Depot’s operations.
In the first few months, Guanajuato has attracted $2.144 billion in investments, committing to create 4,833 jobs in municipalities such as Apaseo el Grande, Silao, and San José Iturbide. The Home Depot’s entry further strengthens the transformative economic landscape in Guanajuato.
