Best Places You May Never Have Heard Of
Rio South Texas Region Landing on 'Best Places' Lists in a Number of Areas
SOURCE Rio South Texas Economic Council
PR Newswire
EDINBURG, Texas, April 6 /PRNewswire/ -- A largely unknown and often overlooked area of the United States is not only starting to get noticed, but is also earning national rankings as the place to live, get a job, go to college and start a business. One of the fastest growing areas in the U.S. with a total population of 2.3 million, Rio South Texas encompasses the southernmost tip of Texas and the northeastern part of Mexico. The region is currently the third largest market in Texas, the 23rd largest market in the country and the largest U.S./Mexico border region in America.
Over the past six months, the region has been ranked nationally in the following areas:
•America's Best-Bang-For-The-Buck Cities. McAllen -Edinburg- Mission ranked 7th for its solid housing market, stable employment, enviable cost of living and quick commute. (Forbes.com, November, 2009)
•America's Fastest-Recovering Cities. McAllen-Mission-Edinburg ranked 48th in this list of 100 most economically secure U.S. metros based on diversified industry and stable housing market. (Forbes.com, November, 2009)
•Safest Hospitals in America. Hospitals in Brownsville (Valley Regional Medical Center), Edinburg (Doctors Hospital at Renaissance and Edinburg Regional Medical Center), Harlingen (Harlingen Medical Center), and McAllen (Rio Grande Regional Hospital and McAllen Medical Center/Heart Hospital) ranked among the best 5% in the nation based on low complication and mortality rates. (HealthGrades, Inc. January, 2010)
•Deep Seaport handles record waterborne in-transits. The Port of Brownsville placed 3rd among the Top 20 U.S. Ports handling Foreign Waterborne In-Transits ahead of the ports of Long Beach and Los Angeles. (U.S. Corps of Engineers – Transportation Facts, December, 2008)
•Most Secure U.S. Places to Live for 2009. McAllen metropolitan area ranked 7th in large metro areas (500,000+) in the sixth annual ranking of safest cities. (Farmers Insurance Group, December, 2009)
•America's 10 Next Recovering Job Markets. McAllen ranked 3rd and Brownsville ranked 4th based on Economy.com's projected job growth in the first three months of 2010.
•A+ Rating. Fitch Ratings gave the City of Harlingen an "A+" rating based on the city's stable financial history, healthy fund balances, increasingly diversified economic base, below average unemployment and moderate debt ratio. (Fitch Ratings, October, 2009)
•50 Best Places to Launch a Business. McAllen ranked 16th among the best midsize places in the U.S. to launch a small business. That same study showed that small business start-ups in McAllen-Mission-Edinburg grew by 13% from 2004-2007, according to the U.S. Census Bureau. And McAllen and Brownsville ranked 1st and 2nd among metros with the lowest wages. (CNNMoney.com, October, 2009)
•America's Best Public Colleges. University of Texas Pan American ranked No. 32 in the top 100 list for "America's Best Public Colleges" and was ranked 218 in the complete list of 600 "America's Best Colleges". (Forbes.com, September, 2009)
"These rankings and ratings indicate that Rio South Texas is fast becoming recognized as a healthy market for more than job creation," said Miki McCarthy, Director of San Juan Economic Development Corporation. "This area is proving itself to be among the best and safest places in the country to live, work, learn and do business. We have a lot to boast about, and that's just what we're doing!"
Rio South Texas Economic Council, a public and private association of economic development interests, was formed in 2008 to promote the collective assets of the Rio South Texas region to attract private sector investment, economic diversification and business expansions. RSTEC – with its tagline "Two Countries. One Region. Many Choices." – is aggressively pursuing six core industry segments: automotive manufacturers and suppliers; aerospace; metal products; medical devices; electronics manufacturing and assembly and renewable energy.
Media Contact:
Sofia Hernandez
Toll Free Line: 1-888-RSTEC01 (888-778-3201)
Direct Line: 956-607-1197
news@riosouthtexas.com
SOURCE Rio South Texas Economic Council
Showing posts with label mcallen. Show all posts
Showing posts with label mcallen. Show all posts
Wednesday, April 7, 2010
Friday, November 20, 2009
Mexican shoppers made for flood of sales receipts last weekend in McAllen
Mexican shoppers made for flood of sales receipts last weekend in McAllen
November 20, 2009 12:05 AM
The Monitor
Sean Gaffney
McALLEN — While city workers hung holiday lights along the streets, downtown McAllen’s retailers wondered if last week’s rush was a prelude to a jolly season.
Mexican shoppers flooded the McAllen area the weekend of Nov. 14 and 15, clogging bridges and thronging shops. Shopkeepers said sales were at Christmastime highs. With a weak peso and economic malaise threatening to hamper holiday spending, they wonder if it was just a tease.
“Right now, it’s still slow,” said Jesus Medelez, an employee at Fashion 25 near the downtown parking garage. “It was very different two years ago.”
When the economy fell apart and the peso lost value, fewer Mexican nationals crossed bridges and those that did spent less. Losing customers who normally spend at least $1.1 billion in Cameron and Hidalgo counties each year crippled sales at area retailers.
Bridge traffic fell and had been on a slow and steady decline since. At the end of September, traffic was down about 10 percent from a year before, said George Ramon, director of the Hidalgo-Reynosa International Bridge.
More than 15,000 vehicles crossed the Hidalgo bridge, up from an average of 11,500 vehicles in recent weeks.
“I was trying to remember the last time I saw that number. It wasn’t at all this year,” Ramon said. “Merchant and hotel owners and operators should be very pleased as well … those are near Christmas rush holiday numbers.”
Two years ago, about 10 Mexican pesos were worth one American dollar. Now, one American dollar costs 13 pesos. It’s a little better than last November, but still means that Mexican nationals have far less buying power.
Last week, sales spiked at Jakybon Accessories, but owner Juany Garza does not think the blues are over. She doesn’t expect the economy to recover for another year so she’s keeping inventory lean at 1424 Beaumont Ave.
She doesn’t want a repeat of last season, when after Christmas her store was crowded with unsold jewelry and beads.
“I have a lot of problems paying employees and paying the bills,” Garza said.
But with the recession well into a second year, Garza and owners like her said they’ve learned to adjust both their expectations and their costs.
Eli Lizka, owner of Colors Name Brand Clothing, saved money switching phone and electric companies. He’s run sales and he’s cut his inventory at 114 S. Main St.
Last weekend his sales were tremendous, but he didn’t know...
Click Here for Full Article
November 20, 2009 12:05 AM
The Monitor
Sean Gaffney
McALLEN — While city workers hung holiday lights along the streets, downtown McAllen’s retailers wondered if last week’s rush was a prelude to a jolly season.
Mexican shoppers flooded the McAllen area the weekend of Nov. 14 and 15, clogging bridges and thronging shops. Shopkeepers said sales were at Christmastime highs. With a weak peso and economic malaise threatening to hamper holiday spending, they wonder if it was just a tease.
“Right now, it’s still slow,” said Jesus Medelez, an employee at Fashion 25 near the downtown parking garage. “It was very different two years ago.”
When the economy fell apart and the peso lost value, fewer Mexican nationals crossed bridges and those that did spent less. Losing customers who normally spend at least $1.1 billion in Cameron and Hidalgo counties each year crippled sales at area retailers.
Bridge traffic fell and had been on a slow and steady decline since. At the end of September, traffic was down about 10 percent from a year before, said George Ramon, director of the Hidalgo-Reynosa International Bridge.
More than 15,000 vehicles crossed the Hidalgo bridge, up from an average of 11,500 vehicles in recent weeks.
“I was trying to remember the last time I saw that number. It wasn’t at all this year,” Ramon said. “Merchant and hotel owners and operators should be very pleased as well … those are near Christmas rush holiday numbers.”
Two years ago, about 10 Mexican pesos were worth one American dollar. Now, one American dollar costs 13 pesos. It’s a little better than last November, but still means that Mexican nationals have far less buying power.
Last week, sales spiked at Jakybon Accessories, but owner Juany Garza does not think the blues are over. She doesn’t expect the economy to recover for another year so she’s keeping inventory lean at 1424 Beaumont Ave.
She doesn’t want a repeat of last season, when after Christmas her store was crowded with unsold jewelry and beads.
“I have a lot of problems paying employees and paying the bills,” Garza said.
But with the recession well into a second year, Garza and owners like her said they’ve learned to adjust both their expectations and their costs.
Eli Lizka, owner of Colors Name Brand Clothing, saved money switching phone and electric companies. He’s run sales and he’s cut his inventory at 114 S. Main St.
Last weekend his sales were tremendous, but he didn’t know...
Click Here for Full Article
Monday, November 16, 2009
McAllen and Brownsville Ranked 3rd & 4th in BusinessWeek's List of "Where the Jobs Will Be in 2010"
Where the Jobs Will Be in 2010
Topping the list is Mount Vernon, Wash., a small town about 60 miles north of Seattle with just 48,000 workers. The town, which lost jobs quickly during the recession, could see a rebound, in part because tourism, retail, and hospitality will make a comeback as the economy improves. Additionally, the weak dollar will provide a boost to communities with international trading ports and metros that border Mexico, such as Brownsville, Tex. (a port town that is No. 4 on our list), and border town McCallen, Tex. (No. 3). Our list was also packed with towns that are closely linked to the energy industry (Billings, Mont., Houston, Tex., and Farmington, N.M.), college towns (College Station, Tex., Tuscaloosa, Ala., Auburn, Ala., and Lawrence, Kan.), and military towns (Columbus, Ga., Augusta, Ga., and Texarkana, Tex.).
None of the metros on the list experienced a housing bubble that had a disastrous pop. Miami, Las Vegas, Phoenix, and Stockton, Calif., will likely be in a funk long after many Texas metros are in growth mode.
"These are areas that had little or no housing cycle and stand to benefit from the renewed firmness in commodity prices," said Chris Lefakis, an economist at Moody's Economy.com. "This could be an export-lead recovery with the replenishment of inventory leading to a resurgence in manufacturing."
Room for Growth in Manufacturing
The manufacturing sector has taken such a battering that it has a lot of room for improvement. Inventories have fallen to such low levels that manufacturers will have to increase production even to keep up with existing demand, Lefakis said.
A plant opening or just expanding can have a magnified impact on a small metro, giving a swift boost to the job market, said Joel Naroff, president of Naroff Economic Advisors in Holland, Pa. But job growth elsewhere mostly will be slow and incremental, he said. Companies will be cautious about hiring and will expand overtime hours and bring on temporary workers before making permanent hires.
The good news is that overtime pay and the increase in temp workers will push up wages nationwide, which could result in more consumer spending, he said.
"If the economy begins to grow, it will be enough [for companies] to add slowly to payroll," Naroff said. "I'm not expecting a vigorous upturn."
Travel, hospitality, and retail could see more dramatic growth. Throughout the recession, Americans have cut down on travel, eating out, and shopping. If the economy improves, they'll add more entertainment to their budgets, he said.
"People might not go to Disney World," said Naroff. "But they might start going out to dinner once week."
New York City, which didn't make our list, could also have a great year, especially now that Wall Street is giving out bonuses "like 2008 never existed," he added.
The federal government will also play a key role in the recovery even as it begins to phase out tax incentives and other economic stimulus spending, Moody's Economy.com Chief Economist Mark Zandi said on CNBC Nov. 3.
"Without the government, the consumer would be pulling back," Zandi said. "By early next year job losses will abate … so we will start to see wage and salary growth and government can begin to pass that baton off [to the private sector]. But it will be a tricky handoff."
The recession might be technically over, but unemployment is rising month after month even in most of the nation's strongest job markets.
A full-fledged job recovery seems to be a long way away. But some metros are poised for significant job growth by the first quarter of next year. BusinessWeek.com teamed up with Moody's Economy.com to identify America's 25 next recovering job markets. These metros were ranked based on Economy.com's projected job growth in the first three months of 2010.
Topping the list is Mount Vernon, Wash., a small town about 60 miles north of Seattle with just 48,000 workers. The town, which lost jobs quickly during the recession, could see a rebound, in part because tourism, retail, and hospitality will make a comeback as the economy improves. Additionally, the weak dollar will provide a boost to communities with international trading ports and metros that border Mexico, such as Brownsville, Tex. (a port town that is No. 4 on our list), and border town McCallen, Tex. (No. 3). Our list was also packed with towns that are closely linked to the energy industry (Billings, Mont., Houston, Tex., and Farmington, N.M.), college towns (College Station, Tex., Tuscaloosa, Ala., Auburn, Ala., and Lawrence, Kan.), and military towns (Columbus, Ga., Augusta, Ga., and Texarkana, Tex.).
None of the metros on the list experienced a housing bubble that had a disastrous pop. Miami, Las Vegas, Phoenix, and Stockton, Calif., will likely be in a funk long after many Texas metros are in growth mode.
"These are areas that had little or no housing cycle and stand to benefit from the renewed firmness in commodity prices," said Chris Lefakis, an economist at Moody's Economy.com. "This could be an export-lead recovery with the replenishment of inventory leading to a resurgence in manufacturing."
Room for Growth in Manufacturing
The manufacturing sector has taken such a battering that it has a lot of room for improvement. Inventories have fallen to such low levels that manufacturers will have to increase production even to keep up with existing demand, Lefakis said.
A plant opening or just expanding can have a magnified impact on a small metro, giving a swift boost to the job market, said Joel Naroff, president of Naroff Economic Advisors in Holland, Pa. But job growth elsewhere mostly will be slow and incremental, he said. Companies will be cautious about hiring and will expand overtime hours and bring on temporary workers before making permanent hires.
The good news is that overtime pay and the increase in temp workers will push up wages nationwide, which could result in more consumer spending, he said.
"If the economy begins to grow, it will be enough [for companies] to add slowly to payroll," Naroff said. "I'm not expecting a vigorous upturn."
Travel, hospitality, and retail could see more dramatic growth. Throughout the recession, Americans have cut down on travel, eating out, and shopping. If the economy improves, they'll add more entertainment to their budgets, he said.
"People might not go to Disney World," said Naroff. "But they might start going out to dinner once week."
New York City, which didn't make our list, could also have a great year, especially now that Wall Street is giving out bonuses "like 2008 never existed," he added.
The federal government will also play a key role in the recovery even as it begins to phase out tax incentives and other economic stimulus spending, Moody's Economy.com Chief Economist Mark Zandi said on CNBC Nov. 3.
"Without the government, the consumer would be pulling back," Zandi said. "By early next year job losses will abate … so we will start to see wage and salary growth and government can begin to pass that baton off [to the private sector]. But it will be a tricky handoff."
Monday, October 12, 2009
MIKE BLUM: McAllen Managed by Common Sense Principles | Rio South Texas
BLUM: McAllen Managed by Common Sense Principles
SPECIAL REPORT
Texas Border Business
By Roberto Hugo Gonzalez
Picture: L-R: Laura Warren, President of McAllen Rotary Club south, Mike Blum, Managing Broker with NAI Rio Grande Valley
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“We’ve got our struggles; things are not perfect, but compared to other places in the country the Valley is doing pretty well,” Mike Blum, Partner and Managing broker for NAI-RGV stated during a presentation at the McAllen Rotary Club south.
He also said that the employment losses in the nation will increase during October or November to 10 percent. “Manufacturing employment dropped to the lowest that it has been in years.” He added. Unemployment rate nationally in August was 9.7 percent so indicated his power point presentation.
In long term unemployment, the number of people unemployed 27 weeks or more is 24.9 million in the nation. “Those aren’t really great facts, but they are the facts.” he said. He also pointed out that locally there has been a good change in the unemployment rates. He reminded club members that a few years ago the unemployment rate for Hidalgo County was 18 percent. “So 11 percent is good under the circumstances,” he stated. He added that McAllen’s unemployment is 7.4 percent. The combined figures for unemployment in Hidalgo and Cameron Counties totaled 11.5 percent.
He said those figures are only a little bit worse than the national stats. He went on to say that in the building permits things are a lot different. In 2006, Hidalgo County registered 6,400 single family permits issued; in 2007 it dropped to 4,800 permits and in 2008 to 2,900 permits. “Huge drop off in single family home permits,” Blum stated.
According to him, McAllen is different due to community and business leaders that have made amazing decisions since 100 years ago. He added that McAllen has had a treasure chest of people of all walks of life and all economic stages that adopted a philosophy and a shared vision as well as a common sense set of guiding principles. “Those principles were: if it is good for business and good for the city, they did it,” he said.
Chronologically Blum pointed out that over a period of 100 years up to now; city leaders have made important decisions that have been great for the city. Back in the early days, during McAllen‘s infancy, the city fathers invited the military to establish a military base called College Heights, off of Houston and Bicentennial. “If you ride through that neighborhood you can see the circular layout and the street pattern like any army base in the United States.
During the early sixties the city bought the privately owned bridge Hidalgo/Reynosa and the rest is history he said. They created foreign trade zone number 12, becoming the first to be inland. “This was a radical departure from normal concepts of foreign trade zones,” he explained.
And in 1979, this city sold the rights to provide health care in the former McAllen General Hospital to the Private Sector. The city got out of this industry when it was the right time to do it. “Thirty years later look at our medical community south and north McAllen or south of Edinburg,” he stated. Blum said that all that happened in the last three decades.
He went to say that the City leaders also invested in education. The city had a site for a future hospital and they made it available to the newly created Texas State Technical College (TSTC) from Harlingen and created a branch in McAllen. He said that they continue to invest in education by the creation of South Texas Community College, which is now South Texas College. “This is an amazing story in itself, they have grown from 600 students to more than 27,000 in a short period of time,” he said.
They also expanded McAllen Miller Airport and now it is about to go through a new expansion. He said it is not a McAllen airport but a regional airport. The city also acquired La Quinta Mazatlan, an old house on a big hill and not only renovated it but created a world birding center and they turned it into a true world class destination for people who come to McAllen.
They acquired land to build a new convention center and they did it with cash, no debt. The city sold land to SIMON to build the Palms Crossing Shopping Center, which made it possible to build the convention center.
He said that on the horizon there is another project, to build an automobile manufacturing plant in the McAllen area. “This is still a deal in process, but it is closer than you can imagine,” he said. According to Blum, these are examples that set the stage for McAllen to be the progressive location that it has become. TBB
SPECIAL REPORT
Texas Border Business
By Roberto Hugo Gonzalez
Picture: L-R: Laura Warren, President of McAllen Rotary Club south, Mike Blum, Managing Broker with NAI Rio Grande Valley
“We’ve got our struggles; things are not perfect, but compared to other places in the country the Valley is doing pretty well,” Mike Blum, Partner and Managing broker for NAI-RGV stated during a presentation at the McAllen Rotary Club south.
He also said that the employment losses in the nation will increase during October or November to 10 percent. “Manufacturing employment dropped to the lowest that it has been in years.” He added. Unemployment rate nationally in August was 9.7 percent so indicated his power point presentation.
In long term unemployment, the number of people unemployed 27 weeks or more is 24.9 million in the nation. “Those aren’t really great facts, but they are the facts.” he said. He also pointed out that locally there has been a good change in the unemployment rates. He reminded club members that a few years ago the unemployment rate for Hidalgo County was 18 percent. “So 11 percent is good under the circumstances,” he stated. He added that McAllen’s unemployment is 7.4 percent. The combined figures for unemployment in Hidalgo and Cameron Counties totaled 11.5 percent.
He said those figures are only a little bit worse than the national stats. He went on to say that in the building permits things are a lot different. In 2006, Hidalgo County registered 6,400 single family permits issued; in 2007 it dropped to 4,800 permits and in 2008 to 2,900 permits. “Huge drop off in single family home permits,” Blum stated.
According to him, McAllen is different due to community and business leaders that have made amazing decisions since 100 years ago. He added that McAllen has had a treasure chest of people of all walks of life and all economic stages that adopted a philosophy and a shared vision as well as a common sense set of guiding principles. “Those principles were: if it is good for business and good for the city, they did it,” he said.
Chronologically Blum pointed out that over a period of 100 years up to now; city leaders have made important decisions that have been great for the city. Back in the early days, during McAllen‘s infancy, the city fathers invited the military to establish a military base called College Heights, off of Houston and Bicentennial. “If you ride through that neighborhood you can see the circular layout and the street pattern like any army base in the United States.
During the early sixties the city bought the privately owned bridge Hidalgo/Reynosa and the rest is history he said. They created foreign trade zone number 12, becoming the first to be inland. “This was a radical departure from normal concepts of foreign trade zones,” he explained.
And in 1979, this city sold the rights to provide health care in the former McAllen General Hospital to the Private Sector. The city got out of this industry when it was the right time to do it. “Thirty years later look at our medical community south and north McAllen or south of Edinburg,” he stated. Blum said that all that happened in the last three decades.
He went to say that the City leaders also invested in education. The city had a site for a future hospital and they made it available to the newly created Texas State Technical College (TSTC) from Harlingen and created a branch in McAllen. He said that they continue to invest in education by the creation of South Texas Community College, which is now South Texas College. “This is an amazing story in itself, they have grown from 600 students to more than 27,000 in a short period of time,” he said.
They also expanded McAllen Miller Airport and now it is about to go through a new expansion. He said it is not a McAllen airport but a regional airport. The city also acquired La Quinta Mazatlan, an old house on a big hill and not only renovated it but created a world birding center and they turned it into a true world class destination for people who come to McAllen.
They acquired land to build a new convention center and they did it with cash, no debt. The city sold land to SIMON to build the Palms Crossing Shopping Center, which made it possible to build the convention center.
He said that on the horizon there is another project, to build an automobile manufacturing plant in the McAllen area. “This is still a deal in process, but it is closer than you can imagine,” he said. According to Blum, these are examples that set the stage for McAllen to be the progressive location that it has become. TBB
McAllen, TX Recognized as Community of the Year
McAllen recognized as Community of the Year
McAllen Economic Development Corporation Blog Post
October 12, 2009
The Texas Chapter of the American Planning Association recognized McAllen, TX as the “Community of the Year.” Planning department staff, along with city planning commissioners, headed to Galveston to receive the prominent award and to attend the annual TXAPA state conference.
In 2008, McAllen received recognition from TXAPA for Foresight McAllen, the city’s long-term comprehensive plan. Also, Sonia Falcon, chair of the Planning & Zoning Commission, was named Commission of the Year by TXAPA.
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In photo (L-R): Xavier Cervantes, Neighborhood Planner; Julianne Rankin, McAllen Planning Director; Israel Juarez, Neighborhood Planner l; Pepe Cabeza de Vaca, Planning & Zoning Commissioner; and Miguel Martinez, Planner l.
Visit the MEDC Blog
McAllen Economic Development Corporation Blog Post
October 12, 2009
The Texas Chapter of the American Planning Association recognized McAllen, TX as the “Community of the Year.” Planning department staff, along with city planning commissioners, headed to Galveston to receive the prominent award and to attend the annual TXAPA state conference.
In 2008, McAllen received recognition from TXAPA for Foresight McAllen, the city’s long-term comprehensive plan. Also, Sonia Falcon, chair of the Planning & Zoning Commission, was named Commission of the Year by TXAPA.
In photo (L-R): Xavier Cervantes, Neighborhood Planner; Julianne Rankin, McAllen Planning Director; Israel Juarez, Neighborhood Planner l; Pepe Cabeza de Vaca, Planning & Zoning Commissioner; and Miguel Martinez, Planner l.
Visit the MEDC Blog
Monday, October 5, 2009
Another Indication that the Rio Grande Valley is Weathering the Recession Better than Most of the Country
Another Indication that the Rio Grande Valley is Weathering the Recession Better than Most of the Country
McAllen credit rating upgraded
Standard and Poor's calls it the best in Rio Grande Valley
Nick Pipitone
The Monitor
McALLEN –- The city’s credit rating was recently upgraded by the financial services company Standard and Poor’s, another indication that the city and regional economy are weathering the recession better than most of the country.
S&P cited continued employment and population growth, an increasingly diversified economy, strong financial management policies and moderate overall debt levels as the primary reasons for upgrading the city’s rating two spots, from AA- to AA+, the second-highest possible rating, behind AAA.
Horacio Aldrete-Sanchez, S&P’s primary analyst on the McAllen rating, said the city has the highest rating in the Rio Grande Valley. It also brings the city in line with the state’s bigger metro areas and other mid-level U.S. metro areas S&P considers financially stable, like Knoxville, TN and Cincinnati, OH.
The city requested S&P re-visit their credit profile in August because they no longer had any outstanding debt bonds, which is what credit agencies usually rate, city Finance Director Jerry Dale said.
“I know the agencies have all been reviewing credit in light of what they’ve called the new international standards,” Dale said. “Because of that, I wanted them to look at the city to see where we were in comparison to others.”
The city will also be looking to issue approximately $14 million in debt to fund the new main library at North 23rd Street and Nolana, so will be soon accessing the credit markets again, Aldrete-Sanchez noted in the report S&P issued last month on the city’s new rating.
The higher credit rating is a “significant step” for the city, Aldrete-Sanchez said, and will mean a couple of things.
First, the city will be able to borrow money at a lower cost when looking to fund capital improvement projects, which could translate to savings of up to $1 million in the library bond transaction, City Manager Mike Perez said.
For residents, those savings should help the city keep its tax rates and utility fees low, Dale said.
The higher rating also can be used as a recruiting tool to draw companies looking to relocate.
“When (companies) look at a community, it’s important to them that it’s well-run, stable and tends to be pro-business, or at least not anti-business,” said Keith Patridge, president of the McAllen Economic Development Corporation. “To increase the credit rating for the city, it very clearly through a third party demonstrates that McAllen hits all three.”
The credibility of financial research and analysis companies like S&P and Moody’s took a hit during the economic meltdown last fall. Both agencies had several of the sub prime loans and bonds that contributed to the financial collapse rated high, sometimes at AAA. But the agencies’ track record on local government and municipal bonds is better, and most investors still look to them, said Ansley Chua, finance professor at the University of Texas Pan-American.
“People still trust them,” Chua said. “We basically have nobody else to grade them, so we kind of have to trust somebody.”
Dale said the city has been working to improve its credit profile for several years and reverse the misperception held by many investors that the Rio Grande Valley was “a collection of dusty little towns with no economic development and everybody starving to death.”
Since 1982, the city’s rating has improved from A-plus to AA-minus in 2004, to its AA-plus rating today.
—
McAllen credit rating upgraded
Standard and Poor's calls it the best in Rio Grande Valley
Nick Pipitone
The Monitor
McALLEN –- The city’s credit rating was recently upgraded by the financial services company Standard and Poor’s, another indication that the city and regional economy are weathering the recession better than most of the country.
S&P cited continued employment and population growth, an increasingly diversified economy, strong financial management policies and moderate overall debt levels as the primary reasons for upgrading the city’s rating two spots, from AA- to AA+, the second-highest possible rating, behind AAA.
Horacio Aldrete-Sanchez, S&P’s primary analyst on the McAllen rating, said the city has the highest rating in the Rio Grande Valley. It also brings the city in line with the state’s bigger metro areas and other mid-level U.S. metro areas S&P considers financially stable, like Knoxville, TN and Cincinnati, OH.
The city requested S&P re-visit their credit profile in August because they no longer had any outstanding debt bonds, which is what credit agencies usually rate, city Finance Director Jerry Dale said.
“I know the agencies have all been reviewing credit in light of what they’ve called the new international standards,” Dale said. “Because of that, I wanted them to look at the city to see where we were in comparison to others.”
The city will also be looking to issue approximately $14 million in debt to fund the new main library at North 23rd Street and Nolana, so will be soon accessing the credit markets again, Aldrete-Sanchez noted in the report S&P issued last month on the city’s new rating.
The higher credit rating is a “significant step” for the city, Aldrete-Sanchez said, and will mean a couple of things.
First, the city will be able to borrow money at a lower cost when looking to fund capital improvement projects, which could translate to savings of up to $1 million in the library bond transaction, City Manager Mike Perez said.
For residents, those savings should help the city keep its tax rates and utility fees low, Dale said.
The higher rating also can be used as a recruiting tool to draw companies looking to relocate.
“When (companies) look at a community, it’s important to them that it’s well-run, stable and tends to be pro-business, or at least not anti-business,” said Keith Patridge, president of the McAllen Economic Development Corporation. “To increase the credit rating for the city, it very clearly through a third party demonstrates that McAllen hits all three.”
The credibility of financial research and analysis companies like S&P and Moody’s took a hit during the economic meltdown last fall. Both agencies had several of the sub prime loans and bonds that contributed to the financial collapse rated high, sometimes at AAA. But the agencies’ track record on local government and municipal bonds is better, and most investors still look to them, said Ansley Chua, finance professor at the University of Texas Pan-American.
“People still trust them,” Chua said. “We basically have nobody else to grade them, so we kind of have to trust somebody.”
Dale said the city has been working to improve its credit profile for several years and reverse the misperception held by many investors that the Rio Grande Valley was “a collection of dusty little towns with no economic development and everybody starving to death.”
Since 1982, the city’s rating has improved from A-plus to AA-minus in 2004, to its AA-plus rating today.
—
Wednesday, September 23, 2009
No.1 - McAllen, Texas: Forbes’ “Best Mid-Sized Cities” for Job Seekers
Midwest cities great for job seekers
By David Balinsky
Forum Columnist
Share this article Published: Wednesday, September 23, 2009
Overall, Texas dominated the list, but Oklahoma found a spot on the list, as well.
Six Midwest cities found themselves on Forbes’ list for the ten best large cities in America.
Overall, Texas dominated the list, but Oklahoma found a spot on the list, as well.
No. 6 - Oklahoma City - Oklahoma City jumped from 30th on last year’s list. Employment rose a meager 0.4 percent, but considering many large cities lost jobs, this is actually very good.
— Most promising sectors: natural resources, mining and construction
No.5 - Dallas, Texas - Dallas is one of those cities that experienced negative growth. However, it has lost only 0.1 percent employment over the past year. Wholesale and manufacturing are two sectors that led the contraction in employment.
— Most promising sectors: government, education and health services
No. 4 - Ft. Worth, Texas - The economy has slowed but not as much as cities in the Northeast and West coast.
— Most promising sector: transportation
No. 3 - San Antonio, Texas- Education and health care have done quite a bit to spare San Antonio from much of the problems seen in the rest of the country.
— Most promising sectors: health care and education
No. 2 - Houston, Texas- Houston seems to be one of the most stable cities in America. Many job sectors experienced slow and stable job growth despite the economic turmoil the rest of the country experienced.
— Most promising sectors: education, health care, mining, natural resources and wholesale
No. 1 - Austin, Texas - Austin’s job growth during the past year was effectively zero. However, job prospects in many different job sectors make it rate as the best large city in the nation.
Most promising sectors: education, health care, leisure and hospitality
Forbes’ “Best Mid-Sized Cities” ranks four Midwest Cities in the top ten.
Many of these cities have oil and mining supporting them through these tough times. Again, Oklahoma has a representative on this list.
No. 6 - Corpus Christi, Texas - Last year, Corpus Christi was 111th on Forbes’ list. This year oil and construction have helped give it a boost.
— Most promising sectors: natural resources, mining and construction
No. 5 - Kansas City, Kan. - In 2008, Kansas City lost only 600 jobs. This stability is due to everything from oil to business services.
— Most promising sectors: natural resources, business services and government
No. 2 - Tulsa - Oil is usually the first thing most people think of when Tulsa comes to mind. However, Tulsa has found itself in great shape in many different sectors. Business services, health, education and government have all experienced double digit growth over the past year.
— Most promising sectors: natural resources, business services, health, education and government
No.1 - McAllen, Texas - Education and health care grew almost 50 percent over the past five years. Government also employs about a quarter of the population.
— Most promising sectors: health, education and government
By David Balinsky
Forum Columnist
Share this article Published: Wednesday, September 23, 2009
Too often, recent graduates look to cities such as New York, Boston, and Los Angeles to find jobs thinking these locales have a plethora of opportunities.
This year, however, east and west coast cities are not the places to look. Looking closer to home might likely prove more fruitful, according to Forbes. In two lists, one for large cities and another for mid-sized cities, Forbes.com lists the best cities for jobs in 2009.
Overall, Texas dominated the list, but Oklahoma found a spot on the list, as well.
Six Midwest cities found themselves on Forbes’ list for the ten best large cities in America.
Overall, Texas dominated the list, but Oklahoma found a spot on the list, as well.
No. 6 - Oklahoma City - Oklahoma City jumped from 30th on last year’s list. Employment rose a meager 0.4 percent, but considering many large cities lost jobs, this is actually very good.
— Most promising sectors: natural resources, mining and construction
No.5 - Dallas, Texas - Dallas is one of those cities that experienced negative growth. However, it has lost only 0.1 percent employment over the past year. Wholesale and manufacturing are two sectors that led the contraction in employment.
— Most promising sectors: government, education and health services
No. 4 - Ft. Worth, Texas - The economy has slowed but not as much as cities in the Northeast and West coast.
— Most promising sector: transportation
No. 3 - San Antonio, Texas- Education and health care have done quite a bit to spare San Antonio from much of the problems seen in the rest of the country.
— Most promising sectors: health care and education
No. 2 - Houston, Texas- Houston seems to be one of the most stable cities in America. Many job sectors experienced slow and stable job growth despite the economic turmoil the rest of the country experienced.
— Most promising sectors: education, health care, mining, natural resources and wholesale
No. 1 - Austin, Texas - Austin’s job growth during the past year was effectively zero. However, job prospects in many different job sectors make it rate as the best large city in the nation.
Most promising sectors: education, health care, leisure and hospitality
Forbes’ “Best Mid-Sized Cities” ranks four Midwest Cities in the top ten.
Many of these cities have oil and mining supporting them through these tough times. Again, Oklahoma has a representative on this list.
No. 6 - Corpus Christi, Texas - Last year, Corpus Christi was 111th on Forbes’ list. This year oil and construction have helped give it a boost.
— Most promising sectors: natural resources, mining and construction
No. 5 - Kansas City, Kan. - In 2008, Kansas City lost only 600 jobs. This stability is due to everything from oil to business services.
— Most promising sectors: natural resources, business services and government
No. 2 - Tulsa - Oil is usually the first thing most people think of when Tulsa comes to mind. However, Tulsa has found itself in great shape in many different sectors. Business services, health, education and government have all experienced double digit growth over the past year.
— Most promising sectors: natural resources, business services, health, education and government
No.1 - McAllen, Texas - Education and health care grew almost 50 percent over the past five years. Government also employs about a quarter of the population.
— Most promising sectors: health, education and government
McAllen, TX one of America’s Best Cities for Jobs: Forbes.com | McAllen, TX in the Rio Grande Valley
Forbes.com has recently named McAllen as one of the top ten cities in American for jobs. The study found that more companies plan to hire employees, resulting in about a 9-percent expected increase in the next quarter.
McAllen has also been named one of the top cities to sustain and grow despite the economic slowdown.
Thursday, September 17, 2009
Development Boost Along Expressway 83 | Jackson Triangle McAllen, TX | NAI Rio Grande Valley
Development Boost Along Expressway 83
By Elizabeth C. Martinez
Valley Business Report
One commercial retail plaza that has been constantly improving is Jackson Triangle, which is located on the Northwest corner of the intersection of Expressway 83 and Jackson Road in McAllen. The property will consist of approximately 37,800 square feet of retail space. The first of the Jackson Triangle tenants included Taco Cabana and AT&T. Since then, Baskin Robbins and Pay-N-Trade have joined them. Most recently, a sign for Cabrito Grill Steaks and Piano Bar went up.
Some of the most important things that businesses think about when choosing a retail of office space include: Is the location an ideal spot? Is there traffic in the area? And is it the right price?
Pedro G. Ayala, president of PGA Studio, Inc. a McAllen-based architecture firm, thinks about these questions when he signs on to work on a project.
“As a design principal for the firm, I feel I have a responsibility to create spaces that are going to be right for the occupants as well as their consumers,” Ayala explained.
“When it comes to building a retail environment, we always think about not only accomplishing the owner’s goals such as maximizing the site and cost constraints, and creating an attractive façade for the community and not turning it’s back on a major street as seen in other Big Box Retail Zones.”
Ed Alvarado, AIA, who worked on the Jackson Triangle project with Ayala, noted that the area is exposed to over 170,000 vehicles per day. Because of its unique triangular shape, doors face the bordering streets, thus creating the most storefront for the owner and the tenant. Not bad, for businesses who seek visibility.
Given the positive signs commercial real estate is beginning to move in the Upper Valley, there still remains to be a heighten focus on falling rent prices and the increasing number of defaults on commercial real estate loans.
Elizabeth C. Martinez is a partner in the public relations firm of Media Morphosis phone (956) 821-8662. Martinez served as Managing Editor and General Manager of The Business Times
By Elizabeth C. Martinez
Valley Business Report
As economic pressures seem to be easing in certain parts of the country, phone calls from individuals making inquiries about retail and office space in McAllen has increased recently, according to Mike Blum, partner and managing broker for NAI Rio Grande Valley.
“In the past few weeks there have been more calls and showings of property for office and retail space,” Blum related. “The properties that people show most interest in McAllen are on North 10th Street, the downtown area, and especially along Expressway 83.”
One commercial retail plaza that has been constantly improving is Jackson Triangle, which is located on the Northwest corner of the intersection of Expressway 83 and Jackson Road in McAllen. The property will consist of approximately 37,800 square feet of retail space. The first of the Jackson Triangle tenants included Taco Cabana and AT&T. Since then, Baskin Robbins and Pay-N-Trade have joined them. Most recently, a sign for Cabrito Grill Steaks and Piano Bar went up.Some of the most important things that businesses think about when choosing a retail of office space include: Is the location an ideal spot? Is there traffic in the area? And is it the right price?
Pedro G. Ayala, president of PGA Studio, Inc. a McAllen-based architecture firm, thinks about these questions when he signs on to work on a project.
“As a design principal for the firm, I feel I have a responsibility to create spaces that are going to be right for the occupants as well as their consumers,” Ayala explained.
“When it comes to building a retail environment, we always think about not only accomplishing the owner’s goals such as maximizing the site and cost constraints, and creating an attractive façade for the community and not turning it’s back on a major street as seen in other Big Box Retail Zones.”
Ed Alvarado, AIA, who worked on the Jackson Triangle project with Ayala, noted that the area is exposed to over 170,000 vehicles per day. Because of its unique triangular shape, doors face the bordering streets, thus creating the most storefront for the owner and the tenant. Not bad, for businesses who seek visibility.
Given the positive signs commercial real estate is beginning to move in the Upper Valley, there still remains to be a heighten focus on falling rent prices and the increasing number of defaults on commercial real estate loans.
Elizabeth C. Martinez is a partner in the public relations firm of Media Morphosis phone (956) 821-8662. Martinez served as Managing Editor and General Manager of The Business Times
Two U.S. Companies Shifting Production to McAllen, TX Border Town, Reynosa, MX | NAI Rio Grande Valley
Kohler sinks U.S. plant, expands in Reynosa
Grand Rapids, Mich.-based Steelcase said it was unsure how many jobs the new facility would create.
Kohler said the expansion of its factory in Reynosa will not create new jobs. The company will rehire workers that had been laid off. Kohler declined to say how many jobs have been cut this recession.
With the downturn in housing, demand for sinks manufactured at Kohler’s Searcy, Ark., facility had fallen and the company had to fuse production with the factory in Reynosa, Todd Weber, a vice president for the Kohler, Wis.-based manufacturer said.
“Both of our plants are underutilized,” he added. Kohler expects to close the Searcy facility by the end of the year.
Steelcase expects to launch production at its new factory in early 2010, said Jeanine Holquist, a company official. None of the company’s other factories will be closed and no workers will be laid off, she added.
“We were looking for a place to consolidate our chair production,” Holquist said. “It gave us a great location to serve customers across North America and it helps us to control shipping cost as well.”
Kohler and Steelcase are the latest major manufacturers this summer to announce expansion in Reynosa. LG Electronics said in July that it was folding production at a plant just across the border from California into its Reynosa maquiladora. The South Korean manufacturer said it expects to create 1,200 jobs with the shift which is expected to finish this month.
A global downturn in manufacturing has slammed Reynosa’s maquiladoras this year, contributing to a 5.3 percent decline in employment. Analysts have said the job loss is slowing and that manufacturing in Reynosa should begin recovering by 2010.
Often, new employment in Reynosa comes at the cost of domestic manufacturing jobs. At the Searcy, Ark. plant, which famously weathered a strike that lasted from December 2006 to November 2007, the majority of Kohler’s 57 employees will lose their jobs the day before Thanksgiving.
Buck Layne, president of the Searcy Regional Chamber of Commerce, said that while the city was disappointed to lose the factory, the area has actually added jobs in recent months that could help mitigate the loss. The factory, which opened in 1966, once employed more than 400 people, Layne said.
The Reynosa plant, the other facility which manufactures sinks, opened in 2002 when the “housing market was thriving (and) demand for stainless steel sinks was equally robust,” the company said in a press release.
The recent economic revitalization in Searcy, a city with a population of about 20,000, has been led by natural gas companies, which have added about 2,000 jobs in the last 18 months, Layne said.
“It’s a global economy these days, but we need to make sure that we’re playing on an even field,” Layne said. “It’s just very discouraging to see jobs leaving the U.S.”
Sean Gaffney covers business, the economy and general assignments for The Monitor. He can be reached at (956) 683-443
September 16, 2009 11:23 PM
By Sean Gaffney
McALLEN — Two U.S. companies announced plans this week to shift production to factories in Reynosa, bolstering unemployment in a maquiladora industry assailed by a global downturn in manufacturing.
On Monday, Kohler Co. said it will shutter a U.S. plant and fold production of stainless steel sinks into its Reynosa facility. On Wednesday, Steelcase, an office furniture manufacturer, said it will open a new facility to build chairs in early 2010.
Grand Rapids, Mich.-based Steelcase said it was unsure how many jobs the new facility would create.
Kohler said the expansion of its factory in Reynosa will not create new jobs. The company will rehire workers that had been laid off. Kohler declined to say how many jobs have been cut this recession.
With the downturn in housing, demand for sinks manufactured at Kohler’s Searcy, Ark., facility had fallen and the company had to fuse production with the factory in Reynosa, Todd Weber, a vice president for the Kohler, Wis.-based manufacturer said.
“Both of our plants are underutilized,” he added. Kohler expects to close the Searcy facility by the end of the year.
Steelcase expects to launch production at its new factory in early 2010, said Jeanine Holquist, a company official. None of the company’s other factories will be closed and no workers will be laid off, she added.
“We were looking for a place to consolidate our chair production,” Holquist said. “It gave us a great location to serve customers across North America and it helps us to control shipping cost as well.”
Kohler and Steelcase are the latest major manufacturers this summer to announce expansion in Reynosa. LG Electronics said in July that it was folding production at a plant just across the border from California into its Reynosa maquiladora. The South Korean manufacturer said it expects to create 1,200 jobs with the shift which is expected to finish this month.
A global downturn in manufacturing has slammed Reynosa’s maquiladoras this year, contributing to a 5.3 percent decline in employment. Analysts have said the job loss is slowing and that manufacturing in Reynosa should begin recovering by 2010.
Often, new employment in Reynosa comes at the cost of domestic manufacturing jobs. At the Searcy, Ark. plant, which famously weathered a strike that lasted from December 2006 to November 2007, the majority of Kohler’s 57 employees will lose their jobs the day before Thanksgiving.
Buck Layne, president of the Searcy Regional Chamber of Commerce, said that while the city was disappointed to lose the factory, the area has actually added jobs in recent months that could help mitigate the loss. The factory, which opened in 1966, once employed more than 400 people, Layne said.
The Reynosa plant, the other facility which manufactures sinks, opened in 2002 when the “housing market was thriving (and) demand for stainless steel sinks was equally robust,” the company said in a press release.
The recent economic revitalization in Searcy, a city with a population of about 20,000, has been led by natural gas companies, which have added about 2,000 jobs in the last 18 months, Layne said.
“It’s a global economy these days, but we need to make sure that we’re playing on an even field,” Layne said. “It’s just very discouraging to see jobs leaving the U.S.”
Sean Gaffney covers business, the economy and general assignments for The Monitor. He can be reached at (956) 683-443
Tuesday, September 15, 2009
McAllen, TX Continues to be Recognized Nationally for Enduring the Storm in the Mist of Bad News
The economy is no longer in a freefall but that hasn’t stopped three metropolitan areas in the Tampa Bay region to be included among the 20 weakest performing areas in the country.
A new report from the Brookings Institution shows that Tampa-St. Petersburg, Bradenton-Sarasota and Lakeland are among 20 metro areas that combined have sustained an average employment decline of 8.2 percent and an average home price drop of 11 percent over the last year. They join five other Florida metros: Cape Coral, Jacksonville, Miami, Orlando and Palm Bay.
Bradenton-Sarasota is 12.5 percent below its peak employment levels before the start of the current recession, worse than the 7.3 percent fall from Tampa-St. Petersburg and 4.1 percent drop from the country as a whole. Florida dominates the list of metro areas experiencing the largest job losses from their peak, joining Ohio and California.
The Tampa, Bradenton and Lakeland metros, however, are losing jobs at a slower rate in the second quarter than they did in the first quarter, a statistic Miami and Palm Bay can’t latch on to since their job losses were greater in the second quarter than in the first quarter. Only Akron, Ohio; Buffalo, N.Y., Columbia, S.C.; Madison, Wis., and McAllen, Texas, gained jobs in the second quarter of 2009 compared with the first quarter.
Housing prices played a big role in the report’s results. Florida metros make up nearly half the bottom 15 in year-over-year house price index changes.
Tampa metro prices were down 11.4 percent compared to the second quarter of 2008. Bradenton metro prices were down 14 percent.
Tampa metro prices were down 11.4 percent compared to the second quarter of 2008. Bradenton metro prices were down 14 percent.
Miami-Fort Lauderdale had the biggest drop of all the metros in Florida with a 19.3 percent decline, but none could top Las Vegas, where home prices have fallen 24.4 percent over the last year.
The number of bank-owned properties, or REOs, per 1,000 mortgageable properties between March and June rose in most Florida metros, but Bradenton led the nation in reducing its number of REOs by 0.43 percent. Cape Coral-Fort Myers, on the other hand, had the worst change among the top metros, gaining 2.88 percent in REOs.
The quarterly MetroMonitor study from Brookings is designed to peek “beneath the hood” of national economic statistics to portray the varied metropolitan landscape of recession and recovery across the country, a release said. MetroMonitor tracks employment, gross metropolitan product, housing prices and REOs as a basis for its conclusions and covers any metro area that had at least 500,000 residents in 2007, which collectively contain two-thirds of the nation’s jobs and generate three-quarters of GDP.
Monday, September 14, 2009
Another Lease in the Neuhaus Tower | NAI Rio Grande Valley McAllen, TX
Another lease by NAI Rio Grande Valley in the Neuhaus Tower, McAllen, TX. We are pleased to welcome the Valley Symphony Orchestra & Chorale to the Neuhaus Tower.
Anzalduas International Bridge in the Heart of Advanced Manufacturing | NAI Rio Grande Valley
America's Newest International Bridge in the Heart of Advanced Manufacturing
PR Newswire United Business Media
PR Newswire United Business Media
MCALLEN, Texas ,Sept. 14 /PRNewswire/ -- In a region heavily dependant on cross-border trade comes the Anzalduas International Bridge, the nation's newest crossing into the industrial border cities in Mexico.
There are over one million people working at some 4,000 maquiladoras concentrated along the U.S./Mexico border. Maquiladoras are manufacturing or export assembly plants operated in Mexico under preferential tariff programs established by the U.S. and Mexican governments.
The presence of these maquiladoras provides considerable advantages to the economic environment along the border by increasing trade, generating employment and acquiring local resources - all important stimuli to the economy in McAllen and the rest of the South Texas area.
The benefits of low-cost Mexican labor and the opportunities created by NAFTA (the North American Free Trade Agreement) have kept many foreign companies turning to the maquiladoras for labor and advanced manufacturing processes. Most lie within a short drive from the border and less than 15 minutes away from the city of McAllen -- the perfect location to take advantage of the international market and the opportunities created through NAFTA.
Although no date has officially been set, the Anzalduas Bridge is scheduled to open in October 2009 and will directly connect Mission and McAllen, TX to the industrial hub of Reynosa, Mexico. It will offer a quicker and safer route for crossing the border, and will eventually be the most efficient way for commercial traffic from northern Mexico to reach U.S. highways.
McAllen and its surrounding sister cities are equipped with world-class infrastructure connecting businesses to local, international and global communities. With close proximity to the Mexican border cities of Reynosa, Matamoros, Monterrey, and with the infrastructure in place to reach Mexico with ease, the area provides unmatched opportunities and resources for businesses looking to relocate.
As McAllen and the rest of South Texas continue to develop, and with the opening of the Anzalduas International Bridge, the economic ties between South Texas and Mexico will also continue to strengthen.
There are over one million people working at some 4,000 maquiladoras concentrated along the U.S./Mexico border. Maquiladoras are manufacturing or export assembly plants operated in Mexico under preferential tariff programs established by the U.S. and Mexican governments.
The presence of these maquiladoras provides considerable advantages to the economic environment along the border by increasing trade, generating employment and acquiring local resources - all important stimuli to the economy in McAllen and the rest of the South Texas area.
The benefits of low-cost Mexican labor and the opportunities created by NAFTA (the North American Free Trade Agreement) have kept many foreign companies turning to the maquiladoras for labor and advanced manufacturing processes. Most lie within a short drive from the border and less than 15 minutes away from the city of McAllen -- the perfect location to take advantage of the international market and the opportunities created through NAFTA.
Although no date has officially been set, the Anzalduas Bridge is scheduled to open in October 2009 and will directly connect Mission and McAllen, TX to the industrial hub of Reynosa, Mexico. It will offer a quicker and safer route for crossing the border, and will eventually be the most efficient way for commercial traffic from northern Mexico to reach U.S. highways.
McAllen and its surrounding sister cities are equipped with world-class infrastructure connecting businesses to local, international and global communities. With close proximity to the Mexican border cities of Reynosa, Matamoros, Monterrey, and with the infrastructure in place to reach Mexico with ease, the area provides unmatched opportunities and resources for businesses looking to relocate.
As McAllen and the rest of South Texas continue to develop, and with the opening of the Anzalduas International Bridge, the economic ties between South Texas and Mexico will also continue to strengthen.
Thursday, September 10, 2009
Why should I locate my business in a business park? | 495 Commerce Center McAllen, TX in the Rio Grande Valley | NAI Rio Grande Valley
When looking for a location for the life of your business considering a business park may be the way to go. Business Parks offer its residents flexibity, growth opportunities and development standards that ensure the value of their investment. To better understand the benefits of locating your business in a business park I have shared an excerpt from Business Park and Industrial Development Handbook by Anne Frej.
“The business parks of today are the product of an evolutionary process. From their antecedents in the manufacturing-oriented industrial estates and parks of the early 20th century, they have become dynamic workplace settings for business, incubators for new technologies, and employment centers that contribute to the economic life of many communities.
Flexibility is key to their success. Business parks not only accommodate a mix of activities such as storage, light manufacturing, research, and office functions, all in a planned and controlled setting; they also can be adapted in form and function to meet changes in the market. This attribute has been critical in recent years, as rapid technological innovation has created new requirements for the industrial sector. The growth of e-commerce and just-in-time distribution systems has led to the transformation of warehouses into sophisticated logistics centers. The need for flexible work spaces that can house office and industrial activities under one roof has resulted in new hybrid buildings known as flex space. The growth of employee-intensive operations such as call centers and data processing centers at business parks has increased population densities there and resulted in requirements for more parking and better on-site amenities and services.
For occupiers, business parks offer the capacity to grow and expand at the same location. With multiple buildings of different types, sizes, and prices to choose from, all in one business park, startup companies can bring operations in small-scale incubator space and eventually move to more prestigious headquarters without ever changing their operations, from high visibility corporate headquarters to inexpensive back-office or flex space. Leasing space, buying a facility, or having it built to specifications are also possible options for occupiers in modern multiphase business parks.
For developers, business parks offer flexibility as well. Despite business parks’ being long-term investments with large budgets because of their size and infrastructure requirements, developers have the benefit of deciding whether to sell unimproved land parcels or completed buildings in a business park. Risk is also minimized by the opportunity to phase development, relying on positive market conditions or formal lease or sale agreements before proceeding with construction. Many developers will not initiate a project until a formal commitment has been received to lease or buy a major portion of the project.
Communities reap potential benefits from business parks. In an era of increasing competition to attract new businesses and jobs, many governments see business parks as a tool to stimulate economic development. In some cases, the agreement is strong enough to warrant the public sector’s active participation in the formation of business parks and the provision of tax incentives or financing assistance to developers.” Read more
In most cases land or building space within a business park is going to come with a higher price tag. But when determining the right location for the life of your business it is important to consider the price verses your cost. Price is a one time thing, and usually cheaper on the on set, but cost is over the lifetime of your investment. A lot of locations can beat business parks on price, but very rarely can they beat on cost. Since cost is lifetime thing, don’t you want the best possible location for your investment?
495 Commerce Center in McAllen, TX located in the Rio Grande Valley is an excellent example of a business park development done right. The 110 acre master-planned business and professional community offers a strategic location in an ideal setting that has proven to be a sound investment. Two government agencies, call center, and several professional buildings already call 495 Commerce Center home. Take a video tour to see first hand what a true business park is all about.
“The business parks of today are the product of an evolutionary process. From their antecedents in the manufacturing-oriented industrial estates and parks of the early 20th century, they have become dynamic workplace settings for business, incubators for new technologies, and employment centers that contribute to the economic life of many communities.
Flexibility is key to their success. Business parks not only accommodate a mix of activities such as storage, light manufacturing, research, and office functions, all in a planned and controlled setting; they also can be adapted in form and function to meet changes in the market. This attribute has been critical in recent years, as rapid technological innovation has created new requirements for the industrial sector. The growth of e-commerce and just-in-time distribution systems has led to the transformation of warehouses into sophisticated logistics centers. The need for flexible work spaces that can house office and industrial activities under one roof has resulted in new hybrid buildings known as flex space. The growth of employee-intensive operations such as call centers and data processing centers at business parks has increased population densities there and resulted in requirements for more parking and better on-site amenities and services.
For occupiers, business parks offer the capacity to grow and expand at the same location. With multiple buildings of different types, sizes, and prices to choose from, all in one business park, startup companies can bring operations in small-scale incubator space and eventually move to more prestigious headquarters without ever changing their operations, from high visibility corporate headquarters to inexpensive back-office or flex space. Leasing space, buying a facility, or having it built to specifications are also possible options for occupiers in modern multiphase business parks.
For developers, business parks offer flexibility as well. Despite business parks’ being long-term investments with large budgets because of their size and infrastructure requirements, developers have the benefit of deciding whether to sell unimproved land parcels or completed buildings in a business park. Risk is also minimized by the opportunity to phase development, relying on positive market conditions or formal lease or sale agreements before proceeding with construction. Many developers will not initiate a project until a formal commitment has been received to lease or buy a major portion of the project.
Communities reap potential benefits from business parks. In an era of increasing competition to attract new businesses and jobs, many governments see business parks as a tool to stimulate economic development. In some cases, the agreement is strong enough to warrant the public sector’s active participation in the formation of business parks and the provision of tax incentives or financing assistance to developers.” Read more
In most cases land or building space within a business park is going to come with a higher price tag. But when determining the right location for the life of your business it is important to consider the price verses your cost. Price is a one time thing, and usually cheaper on the on set, but cost is over the lifetime of your investment. A lot of locations can beat business parks on price, but very rarely can they beat on cost. Since cost is lifetime thing, don’t you want the best possible location for your investment?
495 Commerce Center in McAllen, TX located in the Rio Grande Valley is an excellent example of a business park development done right. The 110 acre master-planned business and professional community offers a strategic location in an ideal setting that has proven to be a sound investment. Two government agencies, call center, and several professional buildings already call 495 Commerce Center home. Take a video tour to see first hand what a true business park is all about.
Wednesday, September 9, 2009
The Right Location for the Life of Your Business | 495 Commerce Center McAllen, South Texas in the Rio Grande Valley
Strategic Location
495 Commerce Center is a mixed-use development, planned to put your business on the fast track to success. This Class-A business park is strategically located in McAllen, TX in the Rio Grande Valley. View video tour and property photos.
495 Commerce Center provides excellent access to nearby international bridges and is only minutes from the McAllen Miller International Airport. 495 is less than 60 miles from a deep port, 240 miles from San Antonio and 120 miles from Monterrey, Mexico.
495 Commerce Center is also close to business services and community support viable for any business. Whether your business is professional, retail, manufacturing, showroom, distribution or service-oriented, 495 Commerce Center puts you in the right place at the right time. At 495 Commerce Center you will enjoy direct access & close proximity to:
Regional transportation
Future Interstate I-69
McAllen’s main post office
Fed-Ex & UPS hubs
Hospitals & medical support services
National retailers
International airport
2 international bridges
Federal, State & County courts
Wise Investment
Your location in 495 Commerce Center will be a secure investment. Architectural and development standards, an owner’
s association and a common area maintenance program will promote enduring property values. Development standards control permitted building types, uses and mix, as well as quality of construction, parking, landscaping and the architectural character of the project.
Location
495 Commerce Center is situated on FM 495 (Pecan Blvd.), a prominent thoroughfare that offers high visibility and easy access to major transportation arteries. Thoughtfully designed landscaping elements, including a lake and jogging trails, enhance the campus like quality of this business park.
Ideal location for:
Call centers
Manufacturer showrooms
Distribution centers
Warehousing
Professional offices
Retail
Government buildings
495 Commerce Center is a mixed-use development, planned to put your business on the fast track to success. This Class-A business park is strategically located in McAllen, TX in the Rio Grande Valley. View video tour and property photos.
495 Commerce Center provides excellent access to nearby international bridges and is only minutes from the McAllen Miller International Airport. 495 is less than 60 miles from a deep port, 240 miles from San Antonio and 120 miles from Monterrey, Mexico.
495 Commerce Center is also close to business services and community support viable for any business. Whether your business is professional, retail, manufacturing, showroom, distribution or service-oriented, 495 Commerce Center puts you in the right place at the right time. At 495 Commerce Center you will enjoy direct access & close proximity to:
Regional transportation
Future Interstate I-69
McAllen’s main post office
Fed-Ex & UPS hubs
Hospitals & medical support services
National retailers
International airport
2 international bridges
Federal, State & County courts
Wise Investment
Your location in 495 Commerce Center will be a secure investment. Architectural and development standards, an owner’
s association and a common area maintenance program will promote enduring property values. Development standards control permitted building types, uses and mix, as well as quality of construction, parking, landscaping and the architectural character of the project.Location
495 Commerce Center is situated on FM 495 (Pecan Blvd.), a prominent thoroughfare that offers high visibility and easy access to major transportation arteries. Thoughtfully designed landscaping elements, including a lake and jogging trails, enhance the campus like quality of this business park.
Ideal location for:
Call centers
Manufacturer showrooms
Distribution centers
Warehousing
Professional offices
Retail
Government buildings
For more information and prices about 495 Commerce Center please contact Charles D. Mueller with NAI Rio Grande Valley
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