South Texas has received a growth spurt over the last few years with no signs of slowing down. A booming retail economy with more expansions in residential development has helped the McAllen-Edinburg-Mission region surpass El Paso as the fifth largest metropolitan statistical area in Texas. With a number of businesses looking to locate in South Texas, the Alamo Economic Development Corporation (EDC) has three tips to help businesses lay a solid foundation for success in the Rio Grande Valley.
Look for Available Incentives
When looking for a city to locate to, check with its EDC. Oftentimes, there are great incentives that can make the process easier. These vary depending on the city, but you can find a few that can assist any endeavor. Some incentives you’ll find available with us are:
- Grants to New and Existing Businesses – These grants are based on available resources only for offsite improvements where the resulting asset falls within the public domain, such as but not limited to:
- Water distribution
- Sewage collection
- Public thoroughfares
- Street lighting
- Tax Increment Reinvestment Zones (TIRZ) – This includes tax increment financing for projects within an identified area.
- USDA-Rural Development: Intermediary Relending Program (IRP) – With this program, EDCs can borrow money from the USDA at 1% for a maximum term of 30 years and acts as intermediary-relending money to ultimate recipients.
- USDA-Rural Development: Rural Business Enterprise Grant (RBEG) – Provides grants to EDCs for rural projects that finance and facilitate development of small and emerging rural businesses and helps fund distance learning networks and employment related adult education programs.
- Texas Rural Communities, Inc. (TRC) – This is a program that specializes in assisting rural communities by supporting businesses, groups and organizations with loan opportunities.
Network Throughout South Texas
When starting or looking to get your business started, it might be beneficial to look into organizations for networking. There are several great organizations throughout South Texas where you will meet like-minded business owners like you. You can also help promote your business while building strong commercial relationships.
Solve Weary Questions with Professionals
South Texas encourages business growth through available programs and seminars that help answer questions. Here are just some options:
- UTRGV Small Business Development Center – You can receive advice and training to start and grow a business.
- Community workshops with PeopleFund – PeopleFund not only provides loans, it also provides business assistance and online learning for marketing and commercial basics.
- S. Small Business Administration Online Learning Center – This is completely free as long as you sign up. Online courses are available.
Businesses Can Find Success in Alamo!
If you’re still looking for a prime location for your business, there is one city that benefits from being located minutes away from all major areas like McAllen, Edinburg and Mission. Alamo has contributed to South Texas’s overall growth through ecotourism and festivals. The city has a retail potential of over $550 million within a 10-minute radius and a daily traffic count of 119,480. With 400 acres available, the perfect business location is waiting for you! Call us at 956.787.6622 today!