NEW MEXICO (KRQE) – An Asian auto-parts supplier will be building a factory in New Mexico’s Santa Teresa Borderplex. The New Mexico Economic Development Department announced today the operation from the Taiwan-based Hota Industrial Manufacturing will be hiring 350 employees.

Hota has signed an agreement for a 30-acre piece of land in the Westpark Industrial Park in Santa Teresa, NM. Construction is set to begin in 2024. Hota plans on investing $72 million in the state over the coming decade with future expansions possible.

An agreement between New Mexico and the EDD is pending but if approved, Hota could qualify for incentives like the High Wage Jobs Tax Credit and the Manufacturers Investment Tax Credit. “Hota chose New Mexico’s Borderplex because of the availability of desirable land, the workforce, and our logistical advantages that provides access to both Mexico’s factories and North American customers,” said Economic Development Cabinet Secretary Alicia J. Keyes. “Hota is one of several new companies who see New Mexico as a solution to fortify and diversify their global supply chain.”

The company makes automotive gears for North American and European clients such as Tesla.