Brownsville, Texas, MSA Economic Snapshot - August 2014

ECONOMIC SNAPSHOT

A Summary of the Brownsville MSA’s Economy AUGUST 2014

HIGHLIGHTS Between June and July 2014, 300

EMPLOYMENT

the civilian labor force.

Sales taxes were just over $3 million in August 2014, 18 percent more than

Brownsville MSA’s Unemployment Rate

Between June and July 2014, 300 Brownsville MSA residents entered the civilian labor force.

the previous month.

The total value amount of residential

Since 2013, private sector employment has risen by 2,200 jobs or 2.2 percent

Private sector jobs in Brownsville MSA fell by 200 in July after a rise of 1,200 jobs in June 2014.

building permits for June was just over $4 million.

There were 538,730 International border bridge crossings for June 2014

8.9%

Brownsville MSA’s unemployment rate increased by one-tenths of a percentage point between June and July 2014 to a rate of 8.9 percent.

Brownsville MSA residents entered

SALES TAX

for Cameron County.

Sales taxes were just over $3 million in August 2014, 18 percent more than the previous month.

Airport arriving passengers increased by 11 percent in June in comparison

Sales Tax for August was very favorable and it is a typical trend for sales tax to spike due to the start of a new school year. In a national survey by Offers.com, just over half (51.2%) of parents in the United States say they begin back-toschool shopping in August.

to May 2014.

During the 12 months ending in June

Fact: Sales tax in Brownsville is 8.25% which is above the Texas Average of 7.25%

2014, the total number of trade activity for Cameron County has been $177 million.

Sales Tax Figures

Brownsville City - August 2014

Source: Texas Workforce Commission Texas Comptroller of Public Accounts MarketingProfs

$4,000 Thousands

Note: Texas cities have the option of imposing an additional local sales tax for a combined total of state and local taxes of .0825

$3,500 $3,000 $2,500 $2,000

SEP

OCT

NOV

DEC

JAN

Last 12 Months: Sept. 13 - Aug. 14

FEB

MAR

APR

MAY

JUN

Previous Year: Sept. 12 - Aug. 13

JUL

AUG

Commercial Building Permits Brownsville City Last 12 Months: Jul. 13 - Jun. 14

BUILDING PERMITS

Permit Value

$18

$9 $6 $3

Jun

Apr

May

Mar

Feb

Jan

Dec

Nov

Sept

$0 Aug

In the 12 months ending in June 2014, a total value of $36 million permits was issued, .07 percent less than the previous year.

$12

Jul

In May 2014 the highest valued commercial construction project for the month was WalMart. The total construction value amounts to $15,524,000.

$15

Millions

The total amount of Brownsville commercial building permits for June was under $4.5 million.

Note: October 2013 data is not available Source: Rio Grande Valley Partnership – Business Barometer Source: Real Estate Center at Texas A&M University

BORDER CROSSINGS

Bridge Crossings to Mexico

There were a total of 538,730 international border bridge crossings June 2014 for Cameron County (Veterans, Los Indios, Gateway and B&M).

Brownsville -Harlingen MSA - June 2014 667 K 539 K

In the 12 months ending in June 2014, the total bridge crossings (auto, pedestrian, bus and truck) were 3,263,617, an increase of 0.6 percent more than the previous year.

Changes between June 2013 & June 2014 Auto crossings

1.8 percent

Pedestrian crossings Truck crossings

54 K

5.5 percent

3 percent

Cameron

Hidalgo

Starr

Note: Bridge crossing totals include Cameron Bridges: Veterans, Los Indios, Gateway, B&M Hidalgo Bridges: Donna, McAllen-Hidalgo, Anzalduas, Pharr, Progreso Starr Bridges: RGC Camargo, Roma Source: Rio Grande Valley Partnership – Business Barometer

AIR TRAFFIC In June 2014, 18,239 passengers ew into and out of the Brownsville airport, an increase of 8.3 percent from June 2013.

Total Airport Passengers Brownsville Airport

There were a greater number of arriving passengers than boarding passengers at the Brownsville Airport, the total amount of boarding passengers was 7,893, while number of arriving passengers was 10,346 this June.

19,500 18,500 17,500 16,500

Boarding passengers decreased 9 percent and arriving passengers increased by 11 percent this June in comparison to May 2014.

15,500

2014 YTD Brownsville has had a total of 87,053 passengers, 4 percent higher than a year ago.

Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Total 16,001 16,033 18,856 18,124 18,039 18,239 Passengers

Source: Rio Grande Valley Partnership – Business Barometer

TRADE ACTIVIY

Highest-Value Traded Products

The total trade activity in Cameron County for the year 2013 was $15 billion, averaging $41 million per day of trade in our local border.

In June 2014 the total U.S. exports and imports trade activity for Cameron County was $1.4 million. A 1.9 percent increase compared with the previous month.

During the 12 months ending in June 2014, the total number of trade activity for Cameron County has been $16.6 billion.

U.S./Mexico Trade Activity

Top Exported Products: 1

Petroleum oils and oils obtained from bituminous minerals (other than crude)

2

Soya beans

3

Other parts and accessories

Top Imported Products: Note: Unadjusted U.S dollars Source: Texas Center for Border Economic and Enterprise Development

1

Other parts and accessories

2

Parts of the seats of subgroup 821.1

3

Other parts and accessories of bodies

For more information regarding this issue of Economic Snapshot, please contact: Daniela Sosa at dsosa@bedc.com Brownsville (TX) Economic Development Council I ph: 956.541.1183 I www.BEDC.com