Retail giant The Home Depot has announced a US $61 million investment to open a new store in San Miguel de Allende in 2026 as part of a three-store rollout across Guanajuato, creating 300 direct and 1,200 indirect jobs.
The Home Depot, North America’s largest home improvement retailer, has revealed plans to invest US $61 million in a new store in San Miguel de Allende, scheduled to open in early 2026. The announcement, made by the company’s Mexican operations division, marks the centerpiece of a three-store expansion across Guanajuato state, which also includes upcoming locations in León and Guanajuato City.
According to the company’s statement, the San Miguel de Allende project will span approximately 16,000 square meters and feature a full range of building materials, garden supplies, home décor, and kitchen and bath showrooms. “This investment underscores our commitment to bringing quality products and services closer to our customers in rapidly growing markets,” said a spokesperson for The Home Depot Mexico.
The expansion is expected to generate roughly 300 direct jobs, including roles in management, sales, logistics, and customer service. In addition, the company estimates that an additional 1,200 indirect positions will emerge in related sectors such as transportation, construction, and regional suppliers. Local officials have lauded the initiative as a major boost to the municipality’s employment prospects.
San Miguel de Allende Mayor María Rosario Sánchez welcomed The Home Depot’s decision, noting that the city’s robust tourism industry and thriving expatriate community have spurred demand for home renovation and construction services. “This new store will not only create jobs but also provide residents and business owners with greater access to high-quality materials and expert advice,” Mayor Sánchez commented.
The two sister stores in León and Guanajuato City are slated to open later in 2026. Together, the trio will bring The Home Depot’s footprint in Guanajuato state to three locations, reinforcing the retailer’s strategy to tap into Mexico’s mid-sized urban markets. Industry analysts point out that Guanajuato’s central location and improving infrastructure make it an attractive region for large-scale retail investment.
Home Depot Mexico has steadily increased its presence in the country over the past decade, targeting areas where rapid urban expansion and rising middle-class incomes drive demand for home improvement. The company first entered Mexico in 2001 and now operates more than 120 stores nationwide, according to its latest corporate report.
Local business associations have expressed optimism that The Home Depot’s arrival will have a multiplier effect on small and medium-sized enterprises. “When a major retailer commits to a location, it often leads to better roads, more reliable utilities, and new commercial opportunities,” said Carlos Ramírez, president of the Guanajuato Chamber of Commerce. “We look forward to collaborating on workforce training and supplier development to maximize the benefits for our community.”
Construction of the San Miguel de Allende store is slated to begin in the second quarter of 2025, with site preparation already underway on a parcel adjacent to the Bajío industrial corridor. The design will incorporate environmentally friendly features such as energy-efficient lighting, water-conserving fixtures, and solar panels to reduce the store’s carbon footprint—a reflection of The Home Depot’s broader sustainability commitments.
Community outreach efforts will include workshops on do-it-yourself (DIY) projects, gardening, and home safety, aimed at homeowners and local contractors. These programs have proven popular in other markets, helping to build brand loyalty and enhance customer skills.
As Mexico continues to urbanize and disposable incomes rise, demand for home improvement products is projected to grow at an annual rate of 5 percent over the next five years, according to market research firm Euromonitor. The Home Depot’s latest investment in San Miguel de Allende positions the retailer to capture a significant share of this burgeoning market while supporting regional economic development.
With construction set to kick off in 2025 and doors opening in early 2026, residents and businesses in San Miguel de Allende can look forward to enhanced access to home improvement solutions, increased employment opportunities, and a new retail hub that underscores the city’s continued growth and dynamism.