"This is a really big milestone for us to have ING's commitment," SBD spokesman tells GlobeSt.com. ING will finance land acquisition for 4,500 acres of virgin land at the site, which is just across the California border, and provide initial capital for infrastructure work expected to approach $200 million, with a total cost of $1 billion.

The 20-year plan, foreseen as 10,000 acres of development over several phases, will require roads, utilities, water treatment plants and state-of-the-art buildings to attract technology related manufacturing. Modeled after similar master-planned parks in China, Malaysia, Singapore and Taiwan, the spokesman explains the concept was launched by officials in the semi-conductor industry tired of seeing their end product built overseas.

In a release announcing the partnership, SBD chairman D.J. Hill says his firm "has joined with a number of public and private Mexican entities and now with ING to create an environment that competes head-on with the best locations in Asia in terms of operating cost, human capital development and factory infrastructure."