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3,000 Jobs added in McAllen MSA

April 21st, 2014 No comments

MAIN POINTS:

  • Unemployment rate in Texas dropped 5.5 % in March
  • The unemployment rate in Texas remains below national rate of 6.7%
  • Last years jobs in private sector: 278,400 (growth rate: 3%)

Article from The Monitor:

AUSTIN — On Friday, the Texas Workforce Commission revealed that the unemployment rate in Texas dropped to 5.5 percent in March — down two-tenths of a percentage point from February’s unemployment rate of 5.7 percent (seasonally adjusted). The unemployment rate in Texas remains well below the national rate of 6.7 percent.

Our state has continued its pattern of strong job growth and the Lone Star State continues to be ranked among the best places to live, work and do business. In Texas, we acknowledge that it is our employers, both small and large, that are the economic engine of this great state. Private employers added 278,400 total jobs over the last year for an annual growth rate of 3.0 percent.

This past year, the McAllen-Edinburg-Mission metropolitan statistical area added 3,000 jobs.

During the past year, all 11 of the major industries experienced annual job growth, with five industries posting rates that exceeded 3 percent.

Employment in Texas continued to grow across a wide range of industries, with seven of the 11 major industries adding jobs in March. Professional and business services added 5,600 jobs in March — more than any other major industry. The information industry also posted strong monthly growth with 2,300 jobs added in March. This was the best start to a year for the information industry since 2000, with 2,400 jobs added in the first quarter of 2014.The industry grew by 3.2 percent over the year and added 6,400 jobs.

As these numbers demonstrate, our Texas economy continues to lead the nation. Now more than ever, a skilled workforce is essential to maintaining our economic competitiveness and our workforce system must be market-driven, effectively meeting the needs of both workers and employers.

I recently had the opportunity to participate in a highly successful Industry Day event at one of our Texas community colleges. Students, educators, employers and community partners all came together to discuss the future of our workforce in Texas. Teachers and counselors heard directly from area employers about their workforce needs and the high-wage, high-demand opportunities that exist for our young Texans. We learned that labor market information is a crucial tool for counselors as they help our students make informed decisions about their education and career goals.

Events like this help to strengthen the conversations between industry and education. These relationships, as well as the strong commitment that many of our Texas employers have made to develop our future workforce, are crucial to our continued success. I am confident that reinforcing these partnerships will serve our state well as we transition to the jobs and industries of the future.

DIRECT LINK/SOURCE: http://www.themonitor.com/opinion/commentary-texas-jobless-rates-fell-in-march-jobs-added-in/article_fde4f782-c74b-11e3-bacc-0017a43b2370.html

$1.2 Trillion of Economic Activity Expected for Border Towns

February 18th, 2014 Comments off

According to Marcial Nava, an economist at BBVA Compass, border towns should be expecting $1.2 trillion dollars worth of economic activity.

The United States is Mexico’s largest natural gas supplier, providing 80% of imports. More than 60% of the natural gas supplied comes from Texas through pipelines that link the Lone Star state with its southern neighbor. In 2012, the Mexican government only authorized the drilling of 3 shale oil and gas wells, a stark contrast to the 9,100 in the U.S. for the same period.

The reforms will remove the limitations that prevented international investment from developing Mexican shale plays, especially in the Burgos Basin, which is the portion of the Eagle Ford Shale that extends into Mexico. This play could hold more than 300 trillion cubic feet of technically recoverable shale gas, while Mexico’s other shale plays the Sabinas, Tampico, and Veracruz Basins – those are estimated to hold more than 1 trillion cubic feet of natural gas reserves.

 

*Source: http://fuelfix.com/blog/2014/01/28/energy-reform-could-bring-1-2-trillion-to-texas-mexico-border/

Proposed Mexican Tax Reform may Impact RGV

October 29th, 2013 Comments off

MEDC had a great turnout at yesterday’s (October 28) press conference. The proposed Mexican tax reform could impact our maquiladora/manufacturing industry if legislation passes. See below for our print and broadcast coverage.

Updated TX MX Map

FROM THE MONITOR:

McALLEN — Tax reform legislation recently adopted by the Cámara de Diputados — Mexico’s equivalent of the U.S. House of Representatives — would roughly double the tax burden for many local maquiladoras, according to Reynosa plant managers.

Mexico would start taxing benefits provided to maquiladora workers and collect a new value-added tax on temporary imports. Combined with the legislation’s other new regulations, the effective tax rate for maquiladoras would jump to 37 percent.

Maquiladoras currently pay a much lower 17 to 19 percent effective tax rate, according to the Consejo Nacional de la Industria Maquiladora y Manufacturera de Exportación, an industry association for Mexico’s foreign manufacturers. Members have urged the Mexican Senate to kill or reduce any tax hike.

“This preferential tax rate was designed to bring investments to Mexico, which is approximately 40 percent of Tamaulipas’ economy,” said Joseph Olmeda, president of the Reynosa maquiladora association and plant manager for BSN Medical. “Obviously, the goose that lays that golden egg — they’re affecting it. And there may be longer term consequences not just to the state but to the international maquila industry.”

Mexico’s tax reform proposal would pump new money into public services and supplement falling revenue from PEMEX, the nationally owned oil company. Tax collection also remains a major problem. The Organization for Economic Cooperation and Development ranked Mexico last among 34 developed nations for tax collection in 2009.

The tax reform legislation would cost BSN Medical’s local maquiladora, which makes orthopedic products, roughly $1.3 million to $1.5 million annually, said Olmeda, the company’s vice president for manufacturing.

If Mexico doesn’t reduce the proposed tax burden, manufacturers may move production to other low-cost nations, Olmeda said, and re-evaluate shifting additional manufacturing from China to Mexico.

Any shift would have a major impact on Reynosa, where maquiladoras employ more than 90,000 workers. Manufacturing wages support an additional 360,000 to 450,000 jobs, said Dan McGrew, vice president of the national maquiladora association.

A typical union maquiladora worker’s compensation includes numerous benefits, which aren’t taxed under Mexican law.

“We like to use those benefits because it’s kind of a win-win,” McGrew said. “There’s no tax to the company and all of it then flows through to the employee.”

Higher taxes on maquiladoras would also hurt the Rio Grande Valley economy, said Keith Patridge, president of the McAllen Economic Development Corp. Local manufacturers, truckers, warehouses and logistics firms all support Reynosa’s maquiladoras. If maquiladoras move elsewhere, American businesses will suffer, too.

“We’re not saying that the government of Mexico doesn’t need revenues and that (maquiladoras) shouldn’t pay their fair share. The whole issue is ‘fair share,’” Patridge said. “And when you’re looking at over a 300 percent increase for some of our companies under this proposition, we feel like that’s not fair.”

FOR DIRECT STORY, CLICK BELOW:

http://www.themonitor.com/news/local/article_c92f41a4-4029-11e3-86b4-0019bb30f31a.html

FROM KVEO CHANNEL 23:

http://www.kveo.com/news/mexican-government-ponders-tax

FROM UNIVISION 48:

http://www.knvotv48.com/impuestos-amenazan-a-maquiladoras/

FROM FOX 2:

http://www.foxrio2.com/mexico-tax-hike-may-impact-valley-economy/

Texas Leads Nation in Job Creation

April 3rd, 2013 1 comment

AUSTIN – A report released this week by the Brookings Institution is the latest to highlight the Lone Star State’s strong jobs climate, finding that Texas leads the nation in job creation with Austin, Houston, Dallas, San Antonio, Dallas and McAllen creating more jobs now than before the recession. According to the report, Austin saw the highest percentage increase in jobs of any city in the nation.

“Texas continues to set a national example for job growth, and I’m proud the Lone Star State is home to six out of the 14 cities that have more jobs now than before the recession,” Gov. Perry said. “Our low taxes, predictable regulations, fair courts, skilled workforce and low cost of living have made Texas the best state in the nation to live, work, raise a family and run a business.”

McAllen

 

Story from The Nueces County Record Star

Click HERE to view the March 2013 Metro Monitor by Brookings

 

McAllen ranked 13th in Texas Retail Survey

March 27th, 2013 Comments off

Texas’ Largest City Retail Markets

Ranked by Retail Sales

  1. Houston     $35,354,740
  2. San Antonio     $17,184,282
  3. Dallas     $14,302,985
  4. Austin     $10,813,562
  5. Fort Worth     $6,972,843
  6. El Paso     $6,273,122
  7. Plano     $5,051,826
  8. Arlington     $4,337,696
  9. Lubbock     $3,712,894
  10. Corpus Christi     $3,510,956
  11. Amarillo     $3,045,808
  12. Irving     $2,614,418
  13. McAllen     $2,543,238
  14. Laredo     $2,322,058
  15. Grapevine     $2,145,316
  16. Midland     $2,116,391
  17. Tyler     $1,982,494
  18. Odessa     $1,919,992
  19. Frisco     $1,907,790
  20. Beaumont     $1,738,145
  21. Round Rock     $1,733,754
  22. McKinney     $1,676,749
  23. Lewisville     $1,636,204
  24. Garland     $1,620,307
  25. Longview     $1,580,033
  26. Waco     $1,576,559
  27. Abilene     $1,529,864
  28. Denton     $1,497,635
  29. Kileen     $1,473,472
  30. Brownsville     $1,458,260
  31. Grand Prarie     $1,456,927
  32. Conroe     $1,402,045
  33. Richardson     $1,384,651
  34. Carrollton     $1,372,928
  35. Mesquite     $1,355,313
  36. Pasadena     $1,298,308
  37. San Angelo     $1,266,224
  38. San Marcos     $1,232,234
  39. Witchita Falls     $1,217,493
  40. Victoria     $1,199,065
  41. Sugar Land     $1,162,431
  42. New Braunfels     $1,061,042
  43. College Station     $1,058,569
  44. Hurst     $1,050,033
  45. Georgetown     $1,004,335
  46. Temple     $962,012
  47. Pearland     $961,964
  48. Baytown     $961,613
  49. Sherman     $961,613
  50. Harlingen     $913,931

Texas State     $264,247,639

 

Source: 2012 Texas Retail Survey

McAllen Ranked #2 Least Expensive Urban Area in Nation

February 8th, 2013 Comments off

Previously ranked #3, McAllen moves up to the #2 spot in the Ten Least Expensive Urban Areas in the Cost of Living Index (COLI) released by the Council for Community and Economic Research.

The Cost of Living Index is published quarterly by C2ER.

McAllen Among Top 10 Major Metros with Projected Growth in Households

February 7th, 2013 Comments off

Household growth rates are slowing in Texas along with the national projections, yet the state tallies five separate metropolitan areas in the Top 10 for projected percentage increase in the number of households. The Austin, Fort Hood, San Antonio, Houston and McAllen/Mission metropolitan areas all have projected household growth rates above 6.6 percent for the five-year period.

“Projected household growth is a critical indicator for the economic prospects of a specific geographic area, and this data can help real estate, retail and a range of other businesses plan their growth strategy scientifically,” said John O’Hara, president of Pitney Bowes Software.

Complete SITE SELECTION Article

 

Only 14 Major Markets Have More Jobs than Before the Recession: McAllen-Edinburg Among Them

January 16th, 2013 Comments off

According to the latest  numbers from the U.S. Bureau of Labor Statistics, Texas takes up 6 of the top 10 spots on the list, in terms of percentage change.

The top 3 metros in the nation for positive percentage change are:

1. Austin

2. Houston

3. McAllen-Edinburg

Complete Article by THE BUSINESS JOURNALS

 

2012 Year-End McAllen EDC Newsletter

January 15th, 2013 Comments off

In this latest edition of McAllen Economic Development Corporation’s Newsletter, we feature the 20th Anniversary from Alcom de Mexico, Inc. in Reynosa, and Alpine Electronics of America’s World Supplier Expo at the McAllen Convention Center.

President and CEO, Keith Patridge, provides his thoughts on 2012 and an outlook for 2013.

Also included, end of year market summaries for McAllen and Reynosa, as well as updates from the McAllen EB5 Regional Center.

Complete 2012 Winter Newsletter

 

McAllen & Reynosa Industrial Market Year-End Reviews

December 19th, 2012 Comments off

The McAllen/Reynosa binational industrial market had plenty of activity to speak of for 2012.

Access each report individually to check the pulse of our vibrant manufacturing community, and discover how this binational region is able to offer world-class operations unique competitive advantages!

Complete McAllen/Reynosa Industrial Market Reviews