tag:blogger.com,1999:blog-6000227991984481255.post-62533013694001155912008-04-08T13:39:00.002-05:002008-04-08T13:42:02.513-05:00McAllen Continues to Rank Nationally<br /><br />McAllen, TX is continuing to show strong activity at the economic level. McAllen’s business cycle index, a gauge of the region’s current economic conditions, rose 5.7% and employment increased 5.3% according to the latest statistics released by the Federal Reserve Bank of Dallas. The increase is due to manufacturing, government and services in leisure and hospitality, and education and health. Another successful year-to-date is confirmed by the McAllen Economic Development Corporation with 6 companies committed, creating 1,105 jobs in our region. Through the Business Retention and Expansion Program, 230 new jobs were created bringing the total job creation count to 1,335.<br /><br />Keith Patridge, President and CEO of McAllen Economic Development Corporation, comments, “We continue to have a strong economic activity level in our region which is evident in not only the committed companies, but also because around 50 companies have visited our region since the start of the year. McAllen continues to grow economically due to our low cost of living, career opportunities, and our strategic North American Location.” <br /><br />Other economic indicators in McAllen are also not following the national trends. The housing market in McAllen recorded 184 homes purchased (Federal Reserve Bank of Dallas), and is the best on record for home sales in January. McAllen also ranked 97 out of 100 of the largest metropolitan areas in terms of foreclosures per total number of household (RealtyTrac). Another factor contributing to the economic activity level is McAllen’s low cost of living, ranked as the 5th lowest in the Nation in the latest ACCRA’s Cost of Living Index. <br /><br />Patridge agrees, “With national rankings such as Forbes Magazine ranking McAllen as one of the Nation’s Best Cities for Jobs as a result of ranking 2nd in the Nation for Income Growth and 1st for Job Growth, we are looking for our region to continue to see steady long-term growth.”<a href="http://www.medc.org">McAllen EDC</a>http://www.blogger.com/profile/05913370319240021167noreply@blogger.com