Brownsville, Texas, MSA Economic Snapshot - October 2014

ECONOMIC SNAPSHOT

A Summary of the Brownsville MSA’s Economy OCTOBER 2014

HIGHLIGHTS

EMPLOYMENT Brownsville Metropolitan Statistical Area (MSA) unemployment rate remained at 8.9 percent for the past 3 consecutive months.

In the past year 2,400 jobs have been added to our local economy.

Brownsville’s MSA labor force consists of 164,436 people, 149,774 are employed and 14,662 are unemployed.

Sales Tax receipts for

In the past year 2,400 jobs have been added to our local economy

September 2014 were 2.5 percent higher than for last

Brownsville-Harlingen Unemployment rate

year’s month of September

10

Percentage

2013.

The total amount of

9 8 7

Brownsville commercial building permits for August

Series1

Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14

Jul-14 Aug-14

Jan-14 9.7

Jul-14 8.9

Feb-14 9.8

Mar-14 8.8

Apr-14 8.1

May-14 8.2

Jun-14 8.9

Aug-14 8.9

2014 was $23 million.

There were a total of 446,003

SALES TAX

international border bridge

Sales taxes were just under $3 million in October 2014, 1.1 percent less than the previous month.

crossings in August 2014.

Brownsville sales tax receipts for September 2014 were 2.5 percent higher than for last year’s month of September 2013.

The projected amount of exported goods from Brownsville to Mexico is $19

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.

million.

Brownsville Airport has had more than 144 thousand passengers.

Source: Texas Workforce Commission Source: Texas Comptroller of Public Accounts

Sales Tax Figures

Brownsville City - October 2014 $4,000

Thousands

During this year the

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

DEC

JAN

FEB

MAR

APR

Last 12 Months: Nov. 13 - Oct. 14

MAY

JUN

JUL

AUG

SEP

Previous Year: Nov. 12 - Oct. 13

OCT

Commercial Building Permits

BUILDING PERMITS

Brownsville City Last 12 Months: Sept. 13 - Aug. 14

The total amount of Brownsville commercial building permits for August 2014 was $23 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 446,003 international border bridge crossings in August 2014 for Cameron County, a 19 percent decrease from the previous month.

In the 12 months ending in July 2014, the total bridge crossings (auto, pedestrian, bus and truck) were 4,265,831 a decrease of 2.1 percent less than the previous year.

Brownsville - Harlingen MSA - August 2014 691 K

446 K

Changes between August 2013 & August 2014 Auto crossings

30 percent

Pedestrian crossings Truck crossings

Aug

El Jardin Subd. – 76 Apts

Jul



Jun

Law Office on Providencia CT.

May



Apr

Mayorca Village Apt –120 Apts

Mar



$0 Feb

HEB Visual Canopy on Southmost Blvd.

Jan



$4

Dec

Toyota Dealership – including car wash

$8

Nov



$12

Sept

In August 2014 New Commercial Construction:

$16

Millions

August year-to-date a total value of $60 million permits has been issued, 14.6 percent more than the previous year.

Month total

0.3 percent

1.2 percent

54 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 Note: Data for Cameron Bridge “B&M” not available.

Source: Rio Grande Valley Partnership – Business Barometer

AIR TRAFFIC In August 2014, 17,961 passengers ew into and out of the Brownsville airport, an increase of 6 percent from August 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 8,261, while number of arriving passengers was 9,700 this August.

21,500

Boarding passengers decreased by 4 percent and arriving passengers decreased by 21 percent this August in comparison to July 2014.

16,500

2014 YTD Brownsville has had a total of 144,191 passengers, 4.8 percent higher than a year ago.

Source: Rio Grande Valley Partnership – Business Barometer Note: Most recent Brownsville South Padre Island International Airport data available.

TRADE ACTIVIY 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.

During this calendar year ending in August, the total number of trade activity for Cameron County has been $11 billion.

The projected amount of exported goods is $800 million and projected amount of imported goods is $700 million for the month of September 2014.

20,500 19,500 18,500 17,500 15,500

Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Total 18,856 18,124 18,039 18,239 20,938 17,961 Passengers

Highest-Value Traded Products U.S./Mexico Trade Activity

Top Exported Products: 1 Petroleum oils and oils obtained from bituminous minerals (other than crude) 2 Soya beans 3 Automotive parts and accessories Top Imported Products: 1 Automotive parts and accessories

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

2 Parts of the seats of subgroup 821.1 3 Other parts and accessories of automotive 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