Ambassador Wayne’s Remarks in 3M Ceremony Innovation Center Inauguration and 65th Anniversary

August 27, 2012 - As Delivered

Good afternoon President Calderon, Secretaries Ferrari, Perez-Jacome, and Velez, Governor Toranzo, Mr. Thulin, and distinguished guests.  It gives me great pleasure to be here with you this afternoon in celebration of an iconic American company - 3M; its 65 years here in Mexico; and the opening of its new Innovation Center.

As many of you know, the United States is the largest investor nation in Mexico, with U.S. companies accounting for around 70% of total cumulative foreign direct investment in Mexico.  This investment is truly a win-win.  World class U.S. companies employ thousands of people in Mexico.  U.S. companies transfer technology, support the Mexican government through taxes, and implement robust corporate social responsibility programs in Mexico.  3M, with its long established presence and innovative approach to the future, exemplifies this relationship.

3M alone employs more than 6,700 people across seven Mexican states, helping to drive economic growth, development and prosperity in the country.  I understand that Mexico is one of five priority countries in terms of 3M’s future investments over the next five years.  The Center of Innovation we are inaugurating today and the R&D Center 3M has opened in San Luis Potosi require highly educated and highly skilled engineers and employees, and the investments that created them help establish Mexico’s prominence among the economies of the future.  The R&D done at this center will help shape products that are sold worldwide for 3M. 

3M’s history in Mexico is a wonderful example of how and why our economies have become so intertwined and interdependent.  We can no longer discuss our two economies as if they were independent of one another.   Mexico’s competitiveness affects U.S. competitiveness.  We are truly living in the age of the North American economy.

It is a great privilege to be able to witness the continued development of our joint market.  It is also my great privilege to be here today with you, Mr. President, to participate in this important occasion. 

Mr. Thulin, I wish you and 3M much success with your new research and development activities in Mexico

Thank you.