MEXICO CITY— Mexicos government said November 28 it plans to develop a beach resort in the northwestern state of Baja California. According to a Reuters report, the government said that initially it would spend $207 million in developing Puerto Escondido-Loreto, and over the next five to seven years about $1 billion would be invested in the project. Funding will come mostly from the private sector. The development is expected to generate around 35,000 jobs. The complex would include a golf course, a marina, three hotels, a port, two recreation centers, two restaurants, condominiums and shopping centers. The government hopes the resort will draw around 700,000 visitors annually by 2015.
