Editing Monterrey (section)

==Economy==
{{See also|Category:Companies based in Monterrey}}
[[File:Torresobispadomty001.jpg|thumb|upright|left|[[Torres Obispado]], the [[List of tallest buildings in Latin America|tallest skyscraper in Latin America]]]]
Monterrey is a major industrial center in northern Mexico, with a GDP ([[purchasing power parity|PPP]]) of US$140 billion and a GDP (PPP) per capita of US$31,900 in 2015.<ref name=2015GDP>{{Cite web |last=Parilla |first=Jesus Leal Trujillo and Joseph |date=2016-09-29 |title=Redefining Global Cities |url=https://www.brookings.edu/research/redefining-global-cities/ |access-date=2021-06-25 |website=Brookings |language=en-US |archive-date=October 28, 2019 |archive-url=https://web.archive.org/web/20191028052524/https://www.brookings.edu/research/redefining-global-cities/ |url-status=live }}</ref> The city was rated by ''[[Fortune (magazine)|Fortune]]'' magazine in 1999 as the best city in Latin America for business and is currently ranked third best by the [[América Economía]] magazine.<ref name="buyusa">
{{cite web |url=http://www.buyusa.gov/mexico/en/business_monterrey.html |title=Business Opportunities in Monterrey – U.S. Commercial Service Mexico |publisher=buyusa.gov |access-date=June 30, 2009 |archive-url=https://web.archive.org/web/20100604210213/https://www.buyusa.gov/mexico/en/business_monterrey.html |archive-date=June 4, 2010 |url-status=dead}}</ref>

The city has prominent positions in sectors such as steel, cement, glass, auto parts, and brewing. The city's economic wealth has been attributed in part to its proximity to the United States-Mexico border and economic links to the United States.<ref name=buyusa/><ref>{{cite web |last=Day |first=Paul |url=http://www.mexconnect.com/mex_/travel/bzm/bzmmonterreyreport.html |title=Monterrey: In Mexico, the North Star shines : Mexico Business |publisher=Mexconnect.com |date=July 1, 2000 |access-date=November 17, 2012 |archive-url=https://web.archive.org/web/20090219050008/http://www.mexconnect.com/mex_/travel/bzm/bzmmonterreyreport.html |archive-date=February 19, 2009 |url-status=dead }}</ref>

Industrialization was accelerated in the mid-19th century by the ''Compañia Fundidora de Fierro y Acero Monterrey'', a steel-processing company.<ref>{{cite web |url=https://whc.unesco.org/en/tentativelists/5393/ |title=Fundidora Monterrey Blast Furnaces – UNESCO World Heritage Centre |publisher=whc.unesco.org |access-date=June 30, 2009 |archive-url=https://web.archive.org/web/20131228111318/https://whc.unesco.org/en/tentativelists/5393/ |archive-date=December 28, 2013 |url-status=live }}</ref> Today, Monterrey is home to transnational conglomerates such as [[Cemex]] (the world's third largest cement company),<ref>{{cite web |url=http://cementamericas.com/mag/cement_rmc_takeover_transform/ |title=RMC takeover would transform Cemex into 20 million+ yd. U.S. ready mixed gigante |publisher=cementamericas.com |access-date=June 30, 2009 |archive-url=https://web.archive.org/web/20101121073800/http://cementamericas.com/mag/cement_rmc_takeover_transform/ |archive-date=November 21, 2010 |url-status=dead }}</ref> [[FEMSA]] (Coca-Cola Latin America, largest independent Coca-Cola bottler in the world), [[ALFA (Mexico)|Alfa]] (petrochemicals, food, telecommunications and auto parts), [[Axtel]] (telecommunications), [[Vitro SA|Vitro]] (glass), [[Selther]] (leading mattress and rest systems firm in Latin America), [[Gruma]] (food), and [[Banorte]] (financial services). The [[FEMSA]] corporation owned a large brewery, the [[Cuauhtémoc Moctezuma Brewery]] (Cervecería Cuauhtémoc Moctezuma) that produces the brands Sol, [[Tecate (beer)|Tecate]], Indio, [[Dos Equis]] and [[Carta Blanca]] among others, in the beginning of the year Cuauhtémoc Moctezuma Brewery was sold to Dutch-based company [[Heineken]]. By the end of the same year, there were more than 13,000 manufacturing companies, 55,000 retail stores, and more than 52,000 service firms in Monterrey.<ref>{{cite web |url=http://www.weldmex.com/952978.html |archive-url=https://web.archive.org/web/20060506140926/http://www.weldmex.com/952978.html |archive-date=May 6, 2006 |title=Monterrey, Mexico |date=May 6, 2006 |access-date=November 17, 2012 }}</ref>

The metals sector, dominated by iron and steel, accounted for 6 percent of manufacturing [[GNP]] in 1994.<ref name="steel">{{cite web |url=http://www.country-data.com/cgi-bin/query/r-8747.html |title=Mexico - Industry |publisher=Country-data.com |access-date=November 17, 2012 |archive-url=https://web.archive.org/web/20110610100723/http://www.country-data.com/cgi-bin/query/r-8747.html |archive-date=June 10, 2011 |url-status=dead }}</ref> Mexico's [[steel industry]] is centered in Monterrey, where the country's first steel mills opened in 1903. Steel processing plants in Monterrey, privatized in 1986, accounted for about half of Mexico's total steel output in the early 1990s.<ref name="steel" />

Monterrey was ranked 94th worldwide and fifth in Latin America in terms of Quality of Life according to Mercer Human Resource Consulting (2006),<ref>{{cite web |url=http://www.mercerhr.com.pr/pressrelease/details.jhtml/dynamic/idContent/1222465;jsessionid=HBZKUMSRFA5FKCTGOUGCHPQKMZ0QUJLW |title=Mercer Human Resource Consulting (2006) |publisher=Mercerhr.com.pr |access-date=April 17, 2011 |archive-url=https://web.archive.org/web/20070312023025/http://www.mercerhr.com.pr/pressrelease/details.jhtml/dynamic/idContent/1222465%3Bjsessionid%3DHBZKUMSRFA5FKCTGOUGCHPQKMZ0QUJLW |archive-date=March 12, 2007 |url-status=dead }}</ref> and was ranked second in 2005 and fourth in 2006, according to América Economía.

Some of the shopping malls in the city include [[Paseo San Pedro]], Paseo La Fe, [[Plaza Fiesta San Agustín]], [[Galerías Monterrey]], and [[Galerías Valle Oriente]].

In March 2023, [[Tesla, Inc.|Tesla]] announced that it would build a new [[gigafactory]]—[[Gigafactory Mexico]]—near Monterrey. The factory will be a ~US$10 billion dollar investment, and will employ thousands of workers when fully operational, as well as employ many thousands of workers during construction.<ref name=bb20230307>{{cite news |title=New Tesla Gigafactory Marks Mexico's Manufacturing Golden Moment |url=https://www.bloomberg.com/news/newsletters/2023-03-07/supply-chain-latest-new-tesla-gigafactory-is-key-success-for-mexico |work=[[Bloomberg News|Bloomberg]] |date=March 7, 2023 |access-date=March 8, 2023 |archive-date=October 16, 2023 |archive-url=https://web.archive.org/web/20231016182454/https://www.bloomberg.com/news/newsletters/2023-03-07/supply-chain-latest-new-tesla-gigafactory-is-key-success-for-mexico |url-status=live }}</ref>

{{wide image|PanoramicaMonterrey.jpg|800px|[[Panoramic image]] of Monterrey}}