EEDC Frontline News “Over 900,000 customers have experienced the flexibility and convenience of PODS.” PODS hosted a Ribbon Cutting Ceremony, Thursday, March 20th at their new business location: The company is located 615 Blaze Blvd in Edinburg, Texas. So what is PODS? PODS are Portable On Demand Storage. PODS revolutionized moving and storage by introducing the concept of portable storage containers. With PODS, portable storage containers come to you, so you can pack at your leisure. When you're ready, they’ll move your PODS container across town, across the country or to one of their secure Storage Center facilities. PODS now serve the entire Rio Grande Valley from Laredo to Harlingen. For more information contact, (866) 229-4193.
EEDC Frontline News President Vice-President Secretary/Treasurer Director Director Executive Director Assistant Executive Director Project Manager Administrative Assistant EEDC is a non-profit company and is responsible for economic development in the City of Edinburg. This newsletter is produced monthly to update the business community and stakeholders on EEDC’s key initiatives. For more information visit the Edinburg EDC web site at www.edinburgedc.com
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We hope you will enjoy the new format of our economic development newsletter. The streamlined layout contains timely news and information on Edinburg’s economy and updates on research and other activities produced by our office.
Send us information on your commercial, industrial, retail property so we can upload onto our Real Estate section of the EEDC website, visited by thousands of site selectors, corporate executives, Our calendar will provide you with a list of our current and upcoming trade shows, conferences, and/or trainings. realtors, and investors. E-mail building specs and your contact The Edinburg Economic Development Corporation staff has been information to Letty Reyes at: letty@edinburgedc.com actively involved in the community. With a goal of increasing the quantity and quality of entrepreneurship education on its campus and in the community, Visit us at www.edinburgedc.com The University of Texas - Pan American invited keynote speakers for weekly news and updates in the Keith Patridge (McAllen EDC) and Ramiro Garza (Edinburg EDC) Edinburg region. for their inaugural event. The Entrepreneurship Speaker Series was a great success with more than 100 MBA students attending the event. Community involvement is on our priority list and that is why the EEDC sponsored The Festival of International Books & Arts (FESTIBA), which celebrated the arts and humanities, encourage literacy, and broaden cultural perspectives through books, poetry, drama, lectures, musical concerts, art exhibits, presentations in design, dance, theatre, films, and more! FESTIBA provided opportunities for university faculty and students to participate in the exchange of arts, research, and ideas as well as engage the community through interactive exhibits, historical enactments, storytelling, panel discussions, and competitions. Edinburg’s retail economy in January 2008, as measured by the amount of local and state sales taxes generated by a wide range of local businesses, was up more than 7.1 percent over the same month period in 2007, the Texas Comptroller of Public Accounts announced.
If you wish to receive a copy of the EEDC Frontline News on a monthly basis, please e-mail your request to letty@edinburgedc.com. To unsubscribe, please forward your request to the same email address. For a hard copy, please contact our office at (956) 383-7124.
602 W. University Drive Edinburg, Texas 78539 Office: (956) 383-7124 Fax: (956) 380-2738 Toll Free: (877) 368-3380 Internet: www.edinburgedc.com
Sincerely, Ramiro Garza, Jr.
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City of Edinburg Unemployment Rate 7.0% 6.0% 5.0%
2005
4.0%
2006
3.0%
2007
2.0%
2008
1.0%
Fe b M ar ch Ap ril M ay Ju ne Ju ly Au g Se pt O ct No v De c
Ja n
0.0%
City of Edinburg Bank Deposits
$1,200,000,000 $1,000,000,000 $800,000,000
2005
$600,000,000
2006
$400,000,000
2007
$200,000,000
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ec D
No v
ct O
Se pt
Au g
Ju ly
Ju ne
M ay
Ap ri l
h M ar c
Fe b
Ja n
$0
City of Edinburg Local Sales Tax
$1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0
2004 2005 2006 2007
De c
No v
O ct
Se pt
g Au
Ju ly
Ju ne
M ay
ril Ap
ar ch M
Fe b
Ja n
2008
City of Edinburg Commercial Building Permits $60,100,000 $50,100,000 2008 $40,100,000
2007
$30,100,000
2006 2005
$20,100,000
2004 $10,100,000 $100,000 Jan
Feb March April
May
June
July
Aug
Sept
Oct
Nov
Dec
City of Edinburg Residential Building Permits $50,100,000 $45,100,000 $40,100,000 $35,100,000 $30,100,000 $25,100,000 $20,100,000 $15,100,000 $10,100,000 $5,100,000 $100,000
2008 2007 2006 2005
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D ec
N ov
O ct
ep t S
ug A
Ju ly
ne Ju
ay M
pr il A
ar ch M
Fe b
Ja n
2004
City of Edinburg Hotel Occupancy 80 70 Percentage
60
Q1
50
Q2
40
Q3
30
Q4
20 10 0 2002
2003
2004
2005
2006
Year
City of Edinburg Hotel Revenue(in thousands) $5,400 $5,200
$5,236
$5,333
$5,317
$5,000 $4,885
$4,800
$4,688
$4,600 $4,400 $4,200 2002
2003
2004
2005
Source: Texas Tourism
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With a goal of increasing the quantity and quality of entrepreneurship education on its campus and in the community, The University of Texas-Pan American has launched the inaugural Entrepreneurship Speaker Series, which began Jan. 23. The speaker series is a cross-disciplinary effort launched this spring 2008 semester by the UTPA Entrepreneurship Cluster, a group comprised of faculty from the Colleges of Business Administration and Science and Engineering as well as staff from the Office of the Vice Provost for Research. The key objectives of the series was to create a greater awareness and appreciation of the role of entrepreneurship in fostering wealth creation and community development; to provide examples of successful entrepreneurs and examine the advantages and disadvantages of pursuing such a career; to reinforce and augment student learning from formal coursework and life experiences; and to learn about other UTPA and/or regional initiatives and activities supporting entrepreneurship and economic development, such as the Workforce Innovation in Regional Economic Development (WIRED) project and the Rapid Response Manufacturing Center. The University of Texas - Pan American was packed with close to 100 MBA students all with one interest - to listen to the featured speakers for the Spring 2008 Entrepreneurship Speaker Series. The night’s speakers were Ramiro Garza, Executive Director for the Edinburg Economic Development Corporation and Keith Partridge, President of the McAllen Economic Development Corporation. Each spoke about their role as presidents for the EDC. Garza spoke about his employment background, focused on financial resources that are available for entrepreneurs in the area and answered audience questions about sales taxes, policies and how to work with small businesses. Keith Partridge spoke about the business retention and expansion department which works with exciting companies and focuses on how they can help companies become more profitable, help them grow, and employ more people in the area, and increase their sales.
The Festival of International Books & Arts will celebrate the arts and humanities, encourage literacy, and broaden cultural through books, poetry, drama, lectures, musical concerts, art exhibits, presentations in design, dance, theatre, films, and more! FESTIBA will provide opportunities for university faculty and students to participate in the exchange of arts, research, and ideas as well as engage the community through interactive exhibits, historical enactments, storytelling, panel discussions, and competitions. The University of Texas - Pan American will have campus tours on March 24 - 29. Tour guides will give valuable insights into the artistic, creative, and educational environment. The Edinburg EDC is a sponsor of this event.
The 40th Annual Fiesta Edinburg was a huge success. The 4 day event (February 21st - 24th) featured a “RETRO” Disco Dance, the Heart of America Carnival, live performances by students and local organizations, a “RETRO” parade with over 100 participants, good food, entertainment, a hands on area for kids organized by the Edinburg World Birding Center and the Dustin Sekula Memorial Library, and live music including headliners: “Cherish” for Friday’s Hip Hop Night and “Solido” ending the concert on Saturday night. We appreciate all the time and effort put forth in the Fiesta Edinburg’s 40th Anniversary and parade. All participants worked diligently on decorations, costumes, and dance moves. For our Fiesta’s 40th, past presidents of the chamber took the lead as Grand Marshals. Thanks to all who participated. Edinburg Economic Development Corporation served on the Fiesta Edinburg’s committee and was a sponsor of this event. On the Web: www.edinburg.com
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Edinburg posted a 4.9 percent jobless rate in January 2008, the second best showing among major Valley cities. Edinburg, like almost all other cities in Texas, showed a slight increase in the number of unemployed residents from the previous month, according to the TWC. All cities in Hidalgo County for January 2008 had a combined 7.3 percent jobless rate, compared with 6.6 percent in in December 2007, while all cities in Cameron County had a combined 6.5 percent jobless rate in January 2008, compared with a six percent jobless rate in December 2007. The best showing in history for Edinburg came in November 2007, when the jobless rate dropped to 3.7 percent. The January 2008 jobless rate in Edinburg represents a growth of 2,498 jobs since January 2005, according to the Texas Workforce Commission. “Texas tops the nation in annual job growth rates in every industry sector, providing more opportunities for Texans,” said Texas Workforce Commission (TWC) Chair Diane Rath. “Texans looking for jobs should feel confident,” said TWC Commissioner Representing Labor Ronny Congleton. “With more than 28,000 jobs created statewide, the climate continues to provide many possibilities for Texas job seekers despite national economic concerns.”
Total construction activities in Edinburg in January 2008 totaled more than $5 million, according to the Edinburg Economic Development Corporation, with new singlefamily homes leading the way during the first month of the new year.
Permit filed by:
Project Name
Project Cost
Jeff Radesi
The Shoppes at Rio Grande Valley
$450,000
Jeff Radesi
The Shoppes at Rio Grande Valley
$275,000
Jeff Radesi
The Shoppes at Rio Grande Valley
$250,000
In January, building permits were issued for the Jeff Radesi The Shoppes at Rio $150,000 construction of 33 single-family homes, valued Grande Valley at more than $3.1 million, while commercial Alex Maheshwari Jackson Creek Ave $125,000 buildings worth more than $1.4 million, not including multi-family residences, began to go Radesi also received a building permit for the secondup in January. and third-most valuable projects, also located at The In January 2008, total construction in Edinburg Shoppes at Rio Grande Valley. He was issued a was reported at $5,154,704, compared with building permit for a commercial facility, valued at $42,737,647 in January 2007. The much- $275,000, located at 427 E. Trenton Road, and a higher January 2007 figures reflected the commercial facility, valued at $250,000, located at issuance of building permits for a number of 449 E. Trenton Road. In addition to the commercial major commercial construction projects in the facilities being built by Radesi, there were two other city, including a significant expansion of Doctors projects valued at $100,000 or more authorized for Hospital at Renaissance. Jeff Radesi received a construction in January 2008. Radesi was also issued building permit for the most valuable a building permit for a commercial facility, valued at construction project in January 2008. That $150,000, located at 423 E. Trenton Road in The permit, for work valued at $450,000, was issued Shoppes at Rio Grande Valley. Alex Maheshwari was for a commercial facility, located at 437 E. issued a building permit for construction of a Trenton Road, which will be part of The Shoppes commercial facility, valued at $125,000, located 2105 Jackson Creek Avenue. at the Rio Grande Valley outdoor mall. 9
Retail sites are available at the new 204,000 square-foot retail center. There is an additional 43,000 square feet of retail space; 4 available pad sites for restaurants. - An estimated $12 million, 101,000-sf commercial and retail center that will be anchored by Alamo Drafthouse Cinema, is on track and set to open in the near future. Trenton Crossroads Plaza is located on a 20-acre site in southwest Edinburg at the intersection of Trenton and Jackson road - Over 1 million square feet of retail space is being developed on the corner of Expressway 281 and Trenton Road; approximately 120 acres.
25 acres of prime commercial land is available for commercial development on the corner of University Drive and McColl Road. 40,000 sq. ft. of retail space. Fair Haven is located off Expressway 281. 25,000 additional sq. ft. of retail space is available for lease.
- When completed this 726 acre mixed used project will be home to 4,500 residents, 2.5 million square feet of retail/office space, and 650,000 square feet of multi-family residential units.
February store sales grew 1.9 percent year-over-year at U.S. chain stores, according to ICSC’s index. The performance was ahead of expectations for the industry, largely due to a better-than-expected Wal-Mart sales gain for the month (up 2.6 percent without its fuel-sales impact). “Despite the slightly better performance, sales were weak for apparelspecialty and department stores, as well as the luxury sector,” said Michael P. Niemira, ICSC's chief economist and director of research. For the month of February, U.S. consumers shopped at value-retailers, spent most on staples and were downscaling, he says. And although February's sales gain was the strongest since November 2007 (when they increased 3.5 percent), there was considerable and lingering demand weakness in the retail environment. “Looking forward to March," Niemira added, "we expect spending to improve slightly, as we are projecting an increase of about 2 percent." Compiled by the staff of Shopping Centers Today. © March 06, 2008 International Council of Shopping Centers.Picture to the right is courtesy of: www.littlestuffedbull.com
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The Edinburg Chamber of Commerce is hosting the popular networking luncheon Power Punch @ Lunch set for Wednesday, March 26th from noon-1pm at the Depot located on 602 W. University in Edinburg Texas. Power Punch @ Lunch is a FREE networking event which is a perfect opportunity for businesses to network, meet & greet as well as pass out business cards and business related material to one another. Lunch as well as door prizes will be provided. This month’s Power Punch @ Lunch is generously sponsored Chick-Fil-A. If you are interested in attending the free luncheon, please RSVP by calling the chamber at 956-383-4974.
Edinburg’s retail economy in January 2008, as measured by the amount of local and state sales taxes generated by a wide range of local businesses, was up more than 7.1 percent over the same month period in 2007, the Texas Comptroller of Public Accounts announced.
strength of the local economy. “Banner job gains in January indicate a resilient Texas labor market,” said Texas Workforce Commission (TWC) Chair Diane Rath. “Texas tops the nation in annual job growth rates in every industry sector, providing more opportunities for Texans.”
In January 2008, Edinburg’s economy generated $1,088,092.60 in local sales taxes, compared with $1,015,366.40 in local sales taxes in January 2007, an improvement of 7.16 percent.
for the Month of February 2008 totaled $3,415,600.00
Edinburg posted a 4.9 percent jobless rate in January 2008, the second best showing among major Valley cities. The jobless rate is a key indicator of the
Total Building Permits for the Month of February $7,963,248
for the Month of January 2008 totaled $739,109,384.55 according to the Valley Chamber’s business barometer.
- Autos & Other: 392,928; Pedestrian: 113,102; Trucks: 329 - Autos & Other: 292,929; Pedestrian: 0; Trucks: 37,685
- $4,547,648
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Brownsville: Harlingen: McAllen: Total:
6,023 35,453 33,711 75,187
April 23-25 - Texas Economic Development Council Spring Conference - Camino Real Hotel - El Paso, TX Last Week in April - EEDC’s Real Estate Commercial Roundtable - Edinburg, TX July 23 - TEDC Economic Development Sales Tax Workshop - The San Luis Resort - Galveston, TX May 15 - TEDC Bond Financing Workshop - DoubleTree Hotel - Dallas, TX May 18 - 21 ICSC RECoN- The Global Retail Real Estate Convention - Las Vegas, NV
Edinburg Economic Development Corp. 602 W. University Drive Edinburg, TX 78539
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