Texas has it all, sports events, great tourism and big business. With over 26 million residents, Texas is ranked second in both population and size. Stretching from El Paso to Beaumont and from Amarillo to the Rio Grande Valley, it’s easy to imagine just how large it is. King Ranch in Kingsville alone is nearly the size of Rhode Island! But back to business, how has Texas been so successful? It attracts not only people, but also companies that see the benefits that the Lone Star State can offer.
Texas hosts a number of great attractions, whether it’s camping, spending a day at an amusement park or visiting countless shopping locations. According to TravelTexas.com, last year alone, the state attracted over 10.2 million international visitors, earning $6.9 billion in international travel spending alone. The overall direct travel spending in Texas last year amounted to $68.7 billion. Over 600,000 jobs were directly supported by tourism, generating $6.2 billion in state and local tax revenues.
Companies understand that tourism and spending go hand-in-hand. That’s why the Lone Star State is home to 51 leading Fortune 500 companies, including Fortune’s #2 company, ExxonMobil. 2.4 million small businesses also see the value in locating to Texas. Whether you’re a Fortune 500 company or small startup, businesses understand that the state has tremendous tourism, job growth and a skilled workforce.
People go where the jobs are. Texas was one of the nation’s top states for job creation in 2015 with 175,700 new jobs having been added. In October alone, the Texas economy added 13,700 jobs and has seen growth in 18 of the past 19 months. With major cities like Austin, Dallas and Houston, other thriving cities are also doing their parts to contribute to Texas’s success.
South Texas has added jobs at a faster rate than the rest of the state overall. Being the most diverse and fastest growing region in Texas, it serves as a hub for shopping, international trade, education and tourism. Constantly growing, the McAllen-Edinburg-Mission area has been named the fifth largest metropolitan statistical area, surpassing El Paso.
Rapidly growing each year, cities like Pharr, McAllen and Edinburg have attracted new companies that entice thousands of international visitors each year. La Plaza Mall has been a large contender in innovation with a large expansion of newer and bigger stores. Pharr Town Center has also brought diversity in shopping with first-time companies in the Rio Grande Valley like Cost Plus World Market and Buy Buy Baby.
Other first time companies coming to the Valley include the highly anticipated Dave & Buster’s, which will open at the Shoppes on 29th in McAllen. Another big development planned for South Texas is the $250 million, 45-acre project off of U.S. Highway 281. The Resaca Market will encompass a movie theatre, boardwalk, jogging trail, a hotel and dozens of retail outlets. Stores will have 350,000 square feet to work with, making it a huge game changer in South Texas and will ideally compete with San Antonio’s famous River Walk.
A total of 11 ports of entry connect the RGV with major Mexican cities like Nuevo Progresso and Tamaulipas. These entryways allow businesses to broaden their target markets and clienteles. Mexico‘s proximity to the Valley has helped many Fortune 500 companies find success. Over the past 25 years, American manufactured exports have quadrupled according to the U.S. Commerce Department. This constant trade has helped put the Valley ahead of other areas and cities in Texas.
Education and Workforce
With the University of Texas Rio Grande Valley’s first school of medicine and the newly announced Texas A&M first academic building in McAllen, the Valley is providing more opportunities for educational options for the growing number of residents and visitors of the region. Diverse options in schooling help build and maintain a skilled workforce. Hidalgo County, which encompasses, Edinburg, La Joya, Mission, McAllen, Weslaco and Alamo, led in job creation and accounted for 37% of the region’s net new jobs.
Choose Alamo for Success
There is a reason why Texas is the best. From tourism to international trade, your business deserves the chance to locate in a successful and thriving part of the state. The Alamo Economic Development Corporation can help you be on your way! With incentives to suit your company’s needs, don’t miss your chance to locate in South Texas. Call 956.787.6622 today!