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German automotive research center to arrive in Querétaro with an investment of 50 million Euro

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This year, a research center for the automotive sector from Germany will be established in the city of Queretaro, representing a total investment of 50 million euro.

The Secretary of Sustainable Development of the municipality of Querétaro, Daniel Rodríguez Parada, did not reveal the name of the company but anticipated that it will generate a thousand first level highly remunerated jobs in Queretaro.

“In a couple of weeks we will be able to officially announce the name of the company that will make this investment of 50 million euro, (more than one billion pesos), generating hundreds of highly specialized research and development jobs, that will be extemely well paid” he said. 

This investment from Germany, represents almost 30 percent of the projection of foreign investment in large projects for the municipality of Querétaro this year, which is 3 billion pesos in total.

According to Rodríguez Parada, for 2018 the total projection in investment attraction is 30 billion pesos, between national and foreign capital, 10 billion pesos more compared to 2017, when the city received around 20 billion pesos in investment.
Source: Secretariat of Sustainable Development of the municipality of Querétaro

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