Brownsville, Texas, MSA Economic Snapshot - September 2014

ECONOMIC SNAPSHOT

A Summary of the Brownsville MSA’s Economy SEPTEMBER 2014

HIGHLIGHTS

EMPLOYMENT

8.9%

Brownsville MSA’s unemployment rate remained constant between August and September 2014 at a rate of 8.9 percent.

Since 2013 private sector employment has risen by 2,400 jobs or 2.3 percent.

Brownsville sales tax receipts for

Brownsville MSA’s Unemployment Rate

Currently the largest MSA employment industry is Education and Health Services, it accounts for 26% of the employment industry composition.

September 2014 were 6.3 percent higher than for September 2013.

In August 2014 the highest valued

Since 2013 private sector employment has risen by 2,400 jobs or 2.3 percent.

new commercial construction project Since August 2013 the Education and Health Services industry has contributed more than any other industry by creating 1,100 new jobs.

was the new Toyota Dealership. The total estimated value is $5 million.

Brownsville border bridge pedestrian crossings for August 2014 were 8.2

SALES TAX

percent higher than for August 2013.

Sales taxes were just under $3 million in September 2014, 6.7 percent less than the previous month.

In August 2014, 17,961 passengers

Brownsville sales tax receipts for September 2014 were 6.3 percent higher than for September 2013.

flew into and out of the Brownsville airport, an increase of 6.0 percent

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.

from August 2013.

YTD 2014 total number of trade activity has been $205 million.

Private sector jobs in Brownsville MSA fell by 300 in August 2014.

Sales Tax Figures

Brownsville City - September2014

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

$4 Millions

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

$4 $3 $3 $2 OCT

NOV

DEC

JAN

FEB

Last 12 Months: Oct. 13 - Sep. 14

MAR

APR

MAY

JUN

JUL

AUG

Previous Year: Oct. 12 - Sep. 13

SEP

Commercial Building Permits Brownsville City Last 12 Months: Aug 13 - July. 14

BUILDING PERMITS

Month total

The total amount of Brownsville commercial building permits for July 2014 was $890 thousand.

In August 2014 the highest valued new commercial construction project was the new Toyota Dealership. The total estimated value is $5 million.

Millions

July year-to-date a total value of $37 million permits has been issued, 2.4 percent less than the previous year.

$16 $12 $8 $4 $0

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

Border Crossings

There were a total of 556,211 international border bridge crossings in July 2014 for Cameron County, a 3.2 increase from the previous month.

Brownsville - Harlingen MSA - July 2014 556 K

In the 12 months ending in July 2014, the total bridge crossings (auto, pedestrian, bus and truck) were 3,819,828, an increase of 0.6 percent more than the previous year.

243 K

Changes between July 2013 & July 2014 Auto crossings

2.3 percent

Pedestrian crossings Truck crossings

52 K

8.2 percent

3.7 percent

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: Hidalgo Bridges (McAllen-Hidalgo and Anzalduas) data 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

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.

In July 2014 the total U.S. exports and imports trade activity for Cameron County was $1.5 billion. A 2.4 percent increase compared with the previous month.

During this calendar year, the total number of trade activity for Cameron County has been $10 billion.

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 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