In the Lone Star State, there’s an old saying that goes, “Everything is bigger in Texas.” Land, population and appetites are abundant here. Texas is home to five of the fastest growing cities in the United States, and that growth is sending a ripple effect to South Texas, specifically Alamo.
Why Texas?
Last year, Texas launched more businesses than any other state. Why is everyone so eager to move here? It’s quite simple. A larger population, friendlier business environment and more jobs mean that activity is always bustling here. Why should you move your business to Alamo? Well, there are quite a few things gearing up to happen near our town, and we’ve got the incentives to help you jumpstart your relocation efforts to the Land of Two Summers.
First, our Revolving Loan Program helps with technical assistance, financial planning, site selection, aiding in site negotiation and paperwork. The TIRZ program is designed to bring new investment opportunities to the area. According to Alamo EDC Special Projects Director Melissa Gonzalez, Alamo is also a great place for business owners to raise a family.
“Alamo has just been nationally recognized as a “Playful City USA” honoree. We do everything we can to be more businesses and family friendly.”
The Economic Impact
While people are moving to other parts of Texas for jobs, Alamo is singing a different tune. We are dedicated to empowering businesses of all types to set foot here and get started on their dream. Wondering if the marketplace down here is capable of sustaining a business? Well, the answer is yes. Below, you’ll find what is happening now, and what the economic future holds for Alamo and the Rio Grande Valley.
1. SpaceX
SpaceX, founded by billionaire Elon Musk, is a planned, 50-acre large spaceport to be constructed near Texas Highway 4, which is 45 minutes from Alamo. The complex will include a rocket launch site, command center, ground tracking center and will perform up to 12 launches a year.
How does this help businesses? SpaceX is expected to create over 500 jobs, bring in over $85 million in investments and generate a whopping $51 million in annual salaries. The precise economic impact is yet to be seen, but many are bracing themselves for an “ecosystem” that could bring engineering and aeronautical firms down to the Rio Grande Valley. Ultimately, the Rio Grande Valley is gearing up to give birth to its own version of Silicon Valley, with a distinct Latino flavor.
2. UTRGV
The University of Texas Rio Grande Valley is a consolidation of the University of Texas-Pan American and University of Texas-Brownsville campuses with the addition of the UTRGV School of Medicine. While UTRGV officially opened its doors in the Fall of 2015, the school of medicine is expected to launch in the Fall of 2016, creating over 1,600 jobs and generating over $66 million in labor income. These future doctors will surely be growing roots in the Valley, and did we mention $66 million in consumer spending money will be up for grabs for businesses?
3. IKEA
Swedish furniture company IKEA purchased a wind farm last year to produce renewable energy. It’s no surprise IKEA chose South Texas, as it’s known for its favorable wind patterns and is considered a leader in the production in wind energy. How does this benefit Alamo and the RGV? Just like the rocket scientists of SpaceX, IKEA’s wind engineers are great potential customers for your business.
4. Alamo is More Affordable and Business Friendly
While northern cities might be too expensive for most businesses to set up shop, Alamo has a relatively low cost of living, low utilities, low transport costs and affordable land. All of these are essential to growing and expanding your business. While living in big cities provides certain benefits, most are expensive to live in.
Here in Alamo, you have a shot at owning the place where you do business and call home. Land is affordable here and the process of acquiring it is less strenuous. There is an abundant supply of land, a business-friendly government and fewer regulations. Gonzalez gives potential businesses a couple of tips to follow after their establishment:
“Consumers want to shop at places that are more friendly and welcoming. Family is a big thing down here and keeping that in mind by providing fun games at events or something to keep kids busy while parents shop helps.”
5. Low Taxes
There are only seven states that don’t require their citizens to pay personal income tax, and Texas is one of them. At every session involving Texas legislators, there are always new tax incentives and, just recently, legislators cut more than $1 billion of proposed business taxes. Texas loves small business owners and so does Alamo!
Be a Part of Alamo’s Bright Future!
SpaceX, IKEA and the University of Texas Rio Grande Valley are just three of the institutions that are sending an economic ripple effect into Alamo and the RGV. We’re constantly looking for ways to help businesses take advantage of the positive changes heading to the Valley. If you’re ready to move your business to Alamo, give us a call at 956.787.6622.