The Rio Grande Valley is growing tremendously with franchises. The American restaurant and entertainment venue, Dave & Busters, will open its first location in McAllen, Bob’s Steak & Chophouse will be opening in Edinburg and Cost Plus: World Market and JoAnn Fabric and Craft Store will be doing business in Pharr.
With new and bigger names in food and retail emerging left and right, more people are investing in franchises across the Valley. Franchises have created millions of opportunities for workers and owners, contributing $674.3 billion to the economy and assisting in the increase of consumer spending.
A Positive Outlook
Consumer spending rose in September, indicating a degree of optimism regarding the feel of the economy, allowing for spending to increase. The growth in consumer confidence is a key indicator of even better things to come. In previous months, Americans were more cautious amid declining confidence in the economy. Personal consumption rose 0.5%, measuring how much Americans spent on items from airfare to autos. Americans also spent more on dining out, health care, gasoline and rent. Incomes also increased 0.3% through September. The reason for the increase? Income, subdued gas prices and a steady growth in the job market.
Creating Jobs
According to the ADP National Franchise Report, in September alone, franchises in the United States created 26,000 jobs. Food retailers created 200 jobs, business services created 500 jobs and real estate created up to 300 jobs. In Texas, franchising has created over 600,000 jobs and has created and supported 7.6 million direct jobs nationwide.
Making Your Impact Locally
Your business or franchise can make an impact locally in the fifth largest Metropolitan statistical area in Texas as reported by the U.S. Census Bureau. The McAllen-Edinburg-Mission MSA has grown to a population of over 800,000, surpassing El Paso, Killeen-Temple and Beaumont-Port Arthur.
Through successful tourism, manufacturing and development of major commercial, retail, office, medical and educational facilities, businesses are now noticing that locating along the U.S.-Mexico border can bring success. But why locate to an overpriced and crowded city when you can achieve the same success close by?
Minutes Away from McAllen
The City of Alamo provides residents and business owners access to other booming metropolitan areas like McAllen and Edinburg. As one of the most vibrant cities for businesses in South Texas, Alamo offers:
- A retail demand of over $500 million
- 400 acres of availability
- Lowest cost of living in the nation
Along with being part of a growing region, Alamo serves as the top birding destination in the United States for thousands of tourists. These population fluxes contribute to the success of many businesses in the city. Alamo also hosts multiple festivals, allowing residents and visitors to experience a small town charm with a city-like lifestyle. Alamo, in connection with the Alamo Economic Development Corporation (EDC), works to take care of its residents, visitors and businesses.
Growing Together
Providing opportunities for growth is a top priority for the Alamo EDC. Through workshops and seminars, the EDC promotes and provides new business opportunities to foster economic growth. Its main goal is to increase private enterprise, individual opportunities and corporate development through business incentives.
Incentives for Your Business
When it comes to incentives in Alamo, we do our best to see your business succeed. Our incentive programs are designed to help your startup or corporation prosper without having to pay high tax rates. From incentives like the Intermediary Relending Program (IRP) or Rural Business Enterprise Grant (RBEG), the Alamo EDC works hard to ensure that businesses have the platform needed to succeed. Whether through festivals, workshops or conferences, we provide the groundwork to foster an economic environment of learning and growth.
Invest in Alamo
The Alamo EDC is here to help improve your business outlook and encourage the local commercial environment. Our economic development efforts are aimed at facilitating higher levels of prosperity for businesses of all scopes and sizes in Alamo. Through collaboration and innovation, our economic assisting efforts can help your business get through the first hurdle of becoming something bigger. For more information about all of the Alamo EDC’s business empowerment initiatives, reach out to us online or call 956.787.6622.