ECONOMIC SNAPSHOT
A Summary of the Brownsville MSA’s Economy NOVEMBER 2014
HIGHLIGHTS
7.7%
EMPLOYMENT Brownsville Metropolitan Statistical Area (MSA) unemployment rate decreased by three-tenths of a percent this month.
Unemployment rate decreased by three-tenths of a percent Sales Tax receipts for
Brownsville MSA’s Unemployment Rate
Brownsville’s MSA labor force consists of 162,771 individuals, in the month of October 193 individuals became employed and 12,537 are still looking for work.
November 2014 were 6.8 percent higher than for last year’s month of November
Brownsville is following the trend seen by the state and nation in regards to dropping the unemployment rate. Texas unemployment rate decreased by two-tenths; the national employment rate also experienced a decreased of two-tenths during the month of October.
2013. Civilian Labor Force
The total amount of Brownsville commercial building permits for September 2014 was $10 million.
Oct-14 Sep-14 Oct-13
162.7 163.2 164.1
Emp.
Unemp.
Rate
150.2 150.1 147.9
12.5 13.1 16.1
7.7 8 9.8
There were a total of 533,101 international border bridge
SALES TAX
crossings in September 2014.
Sales taxes were over $3 million in November 2014, 9.5 percent more than the previous month.
The projected amount of
Brownsville sales tax receipts for November 2014 were 6.8 percent higher than for last November in 2013.
exported goods in November from Brownsville to Mexico is $13 million.
The sales tax trend is consistent, following the same spending pattern as last year. Since May 2014 to date, sales tax figures have increased in comparison to 2013 recorded figures.
During this year the Brownsville Airport has had more than 174 thousand
Sales Tax Figures
Brownsville City - November 2014
passengers.
Source: Texas Comptroller of Public Accounts
Thousands
Source: Texas Workforce Commission
$4,000 $3,500 $3,000 $2,500 $2,000 DEC
JAN
FEB
MAR
APR
Last 12 Months: Dec. 13 - Nov. 14
MAY
JUN
JUL
AUG
SEP
Previous Year: Dec. 12 - Nov. 13
OCT
NOV
Commercial Building Permits
BUILDING PERMITS
Brownsville City Last 12 Months: Nov. 13 - Sep. 14
$10 million was the total amount of Brownsville commercial building permits for September 2014.
$8 $4 Sep
Aug
Jul
Jun
May
Apr
Mar
Feb
$0 Jan
Geeta Apts located on Los Ebanos will build 7 units Commercial fourplex unit will be built on Country Club Rd. Plans to build a new school at University Plaza on 20.3 acres of land
$12
Dec
$16
Nov
September 2014 New Commercial Construction:
$20
Millions
August year-to-date, a value of $70 million permits has been issued, which is 28 percent more than the previous year.
Month total $24
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 533,101 international border bridge crossings in September 2014 for Cameron County, a 6.8 percent decrease from the previous month.
Brownsville - Harlingen MSA - Sep 2014 637 K 533 K
This drop in crossings is typical at the beginning of the 4th quarter and crossings spike in December.
Changes between September 2013 & September 2014 Auto crossings
0.9 percent
Pedestrian crossings Truck crossings
12.2 percent
7.5 percent
57 K Cameron
Hidalgo
Starr
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
Airport Passengers
In October 2014, 15,803 passengers flew into and out of the Brownsville airport, an increase of 7 percent from October 2013.
Brownsville Airport 21,500
There were a greater number of arriving passengers than boarding passengers at the Brownsville Airport; the total amount of boarding passengers was 7,612, while number of arriving passengers was 8,191 this October.
20,000 18,500 17,000
Boarding passengers increased by 7 percent and arriving passengers increased by 6 percent this October in comparison to last month (September 2014).
15,500 14,000
2014 YTD Brownsville has had a total of 174,827 passengers, 5 percent higher than a year ago.
June
July
Aug
Sep
Oct
2014 18,039
May
18,239
20,938
17,961
14,820
15,803
2013 16,073
16,842
19,305
16,950
14,067
14,709
Source: Rio Grande Valley Partnership – Business Barometer &BRO Airport Note: Most recent Brownsville South Padre Island International Airport data
TRADE ACTIVIY
Trade Activity
This year Brownsville’s exports have exceeded its imports to Mexico. Mexico continues to be our top trading partner. The top export product to Mexico is Petroleum.
Highest-Value Traded Products - U.S./Mexico Trade Activity Top Exported Products Petroleum oils and oils obtained from bituminous minerals (other than crude) Other car parts and accessories Soy beans Top Imported Products Other car parts and accessories Ceramic dielectric field capacitors - components to compress and distribute electricity or windmill components.
2013
1,500 1,400 Millions
During this calendar year, the total number of trade activity has been $12 billion.
2014
1,300 1,200 1,100 1,000 Jan Feb Mar Apr May Jun Jul Aug Sep
Source: Texas Center for Border Economic and Enterprise Development
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