Local Markets of South Texas See Bright Spot

Strategic Location, Young Workforce and Growing Population Are Factors in Growth

At a time when the national economy is slowing, there is a bright spot for the local market of South Texas. McAllen Economic Development Corporation reports that the first two months in 2008 have been busy. Since January, the MEDC staff has worked with twenty-five new companies or prospects which have the potential of creating about six thousand jobs in our region. Of those twenty-five companies, four have committed; which is right on schedule according to MEDC’s goal of committing two companies per month. The four committed companies will bring over seven hundred jobs to our region, utilize one hundred thousand and forty-five square feet and represent the automotive industry, a logistics company, an insurance claims services company and a data center. There is a wide variety of industries represented by the companies that are visiting, including the automotive industry, materials fabrication and handling, metal and wood fabrication, call centers, produce, recycling companies, plastics manufacturing, aviation, and sewing industries.

Keith Patridge, President and CEO of McAllen Economic Development Corporation, says, “In the past when the market softens in the United States we have always seen an increase in companies looking at our area as a way to reduce their costs and be more competitive.” Patridge also comments, “We wondered if this would still be true and so far that is exactly what we are seeing. If the activity continues at this level we will have a great year for growth.”

As new companies move into the area they typically will relocate anywhere from three to five families that purchase or lease housing and add to our local economic activity. With our strategic location, young workforce and growing population, the South Texas market fundamentals are still encouraging.

The McAllen Economic Development Corporation is a not-for profit organization under contract with the City of McAllen to create jobs for McAllen by attracting new industry and helping existing companies to expand.
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