SANTA TERESA, N.M. (AP) — The original developer's grandiose dream for turning a swath of desert on New Mexico's southern border into a modern, bi-national industrial hub complete with country club neighborhoods was written off years ago as another boom plan gone bust.
But some 40 years after the idea was born, the still unincorporated community of Santa Teresa is making its bankrupt founder's vision appear prescient.
Situated just west of El Paso and Juarez, Santa Teresa has become a U.S.-Mexico border development hot spot. It's just across the border from computer and electronics manufacturing giant FoxConn. And Union Pacific is developing a huge inland port on the U.S. side of the border.
Economic development officials say industrial space is just about full, and they expect another boom when the rail port opens in 2015.