Select Page
Edinburg’s retail economy is almost double the statewide average

Featured, from left: George Cárdenas, Senior Vice President, Inter National Bank, McAllen; Shekhar Gianchandani, Chief Financial Officer, Qube Hotel Group; City Councilmember Richard Molina; Hiren M. Govind, Chief Operating Officer, Qube Hotel Group; Himesh Jeram, Chief Executive Officer, Qube Hotel Group; Mark Iglesias, President, Board of Directors, Edinburg Economic Development Corporation; Agustín García, Jr., Executive Director, Edinburg Economic Development Corporation; and Ellie M. Torres, Secretary/Treasurer, Board of Directors, Edinburg Economic Development Corporation. The group was participating in the Tuesday, November 17, 2015 groundbreaking of the $10 million Marriott Towne Place Suites being built near the intersection of Professional Drive and Trenton Road. Not pictured is Mohan Tewani, Chief Development Officer, Qube Hotel Group. The new facility is the latest sign of economic growth in the city, which is also showing continued gains in its retail economy.
Photograph By DIEGO REYNA

Edinburg’s retail economy from January through October 2015 was 7.16 percent ahead of the same period last year, a figure that is almost double the the statewide average of all Texas cities, which came in with a 3.6 percent improvement when comparing the same 10-month periods, the Edinburg Economic Development Corporation has announced. The EEDC, of which Agustín García, Jr. is Executive Director, is the jobs-creation arm of the Edinburg Mayor and Edinburg City Council. The EEC Board of Directors is comprised of Mark Iglesias as President, Harvey Rodríguez as Vice President, Ellie M. Torres as Secretary/Treasurer, and Mayor Richard García and Richard Ruppert as Members. For the month of October 2015, the city’s retail economy registered a 7.55 percent rate of improvement over the same month last year, the EEDC added, according to data released on Wednesday, December 9, 2015 by the Texas Comptroller of Public Accounts. These figures are based on sales made in October 2015 by businesses that report tax monthly. Among its many duties, the Texas Comptroller’s office is the state’s chief tax collector, accountant, revenue estimator and treasurer. The 7.55 percent increase over the same month last year was the best showing among the Valley’s larger economies. During the first 10 months of 2015, Edinburg’s retail economy produced $20,245,270.46 in local sales taxes, compared with $18,891,654.50 for January through October 2014, resulting in the improvement of 7.16 percent. During October 2015, the city’s retail economy generated $1,568,278.46 in local sales taxes, compared with $1,458,157.23 for October 2014, representing the improvement of 7.55 percent, also according to the Texas Comptroller of Public Accounts. The local sales tax is used in Edinburg to help pay for many city services, while the EEDC uses its one-half cent local sales tax to help generate economic development in the city. The amount of local sales taxes collected also helps reflect the strength of an economy, along with construction activities, per capita income, education, historical performances, and related trends. The sales tax, formally known as the State Sales and Use Tax, is imposed on all retail sales, leases and rentals of most goods, as well as taxable services. Texas cities, counties, transit authorities and special purpose districts have the option of imposing an additional local sales tax for a combined total of state and local taxes of 8 1/4% (.0825).

••••••

Edinburg’s retail economy’s improvement from January through October 2015 over the same period in 2014 almost double the statewide average for all cities in Texas, state agency reports

By DAVID A. DÍAZ
Legislativemedia@aol.com

Edinburg’s retail economy from January through October 2015 was 7.16 percent ahead of the same period last year, a figure that is almost double the the statewide average of all Texas cities, which came in with a 3.6 percent improvement when comparing the same 10-month periods, the Edinburg Economic Development Corporation has announced.

The EEDC, of which Agustín García, Jr. is Executive Director, is the jobs-creation arm of the Edinburg Mayor and Edinburg City Council.

The EEDC Board of Directors is comprised of Mark Iglesias as President, Harvey Rodríguez as Vice President, Ellie M. Torres as Secretary/Treasurer, and Mayor Richard García and Richard Ruppert as Members.

For the month of October 2015, the city’s retail economy registered a 7.55 percent rate of improvement over the same month last year, the EEDC added, according to data released on Wednesday, December 9, 2015 by the Texas Comptroller of Public Accounts.

These figures are based on sales made in October 2015 by businesses that report tax monthly.

Among its many duties, the Texas Comptroller’s office is the state’s chief tax collector, accountant, revenue estimator and treasurer.

The 7.55 percent increase over the same month last year was the best showing among the Valley’s larger economies.

During the first 10 months of 2015, Edinburg’s retail economy produced $20,245,270.46 in local sales taxes, compared with $18,891,654.50 for January through October 2014, resulting in the improvement of 7.16 percent.

During October 2015, the city’s retail economy generated $1,568,278.46 in local sales taxes, compared with $1,458,157.23 for October 2014, representing the improvement of 7.55 percent, also according to the Texas Comptroller of Public Accounts.

The local sales tax is used in Edinburg to help pay for many city services, while the EEDC uses its one-half cent local sales tax to help generate economic development in the city.

The amount of local sales taxes collected also helps reflect the strength of an economy, along with construction activities, per capita income, education, historical performances, and related trends.

The sales tax, formally known as the State Sales and Use Tax, is imposed on all retail sales, leases and rentals of most goods, as well as taxable services. Texas cities, counties, transit authorities and special purpose districts have the option of imposing an additional local sales tax for a combined total of state and local taxes of 8 1/4% (.0825).

HOW OTHER VALLEY CITIES, COUNTIES PERFORMED
FROM JANUARY THROUGH OCTOBER 2015

Pharr, with an improvement of 11.59 percent from January through October 2015 over the same period last year, had a better year-to-date showing than Edinburg among the Valley’s larger city economies, the Texas Comptroller of Public Accounts reported.

Based on the amount of sales taxes generated, according to the state comptroller’s office, the Valley’s major cities ranked accordingly in the following local sales tax figures, both for January through October 2015, and for October 2015.

January through October 2015

McAllen: $62,586,118.52, up 0.31 percent compared with January through October 2014 ($62,387,473.11);
Brownsville: $36,263,611.67, up 2.52 percent compared with January through October 2014 ($35,372,000.95);
Harlingen: $22,064,521.92, up 2.75 percent compared with January through October 2014 ($21,473,965.55);
Edinburg: $20,245,270.46, up 7.16 percent compared with January through October 2014 ($18,891,654.50);
Pharr: $16,361,965.77, up 11.59 percent compared with January through October 2014 ($14,661,615.65);
Mission: $15,134,622.14, down 0.82 percent compared with January through October 2014 ($15,260,609.39); and
Weslaco: $11,701,640.39, up 1.91 percent compared with January through October 2014 ($11,482,187.02).

October 2015 compared with October 2014

McAllen: $4,449,457.94, down 6.33 percent compared with October 2014 ($4,750,340.56);
Brownsville: $2,790,094.50, down 1.43 percent compared with October 2014 ($2,830,857.16);
Harlingen: $1,701,844.28, down 0.31 percent compared with October 2014 ($1,707,191.05);
Edinburg: $1,568,278.46, up 7.55 percent compared with October 2014 ($1,458,157.23);
Pharr: $1,306,892.47, up 4.08 percent compared with October 2014 ($1,255,598.52);
Mission: $1,152,186.89, down 5.17 percent compared with October 2014 ($1,215,044.23); and
Weslaco: $808,705.70, down 2.42 percent compared with October 2014 ($828,833.77).

All cities in Hidalgo County reported a total of $11,198,064.26 in local sales taxes in October 2015, compared with $11,367,104.82 in October 2014, a decrease of 1.48 percent. Year-to-date (January through October 2015), all cities in Hidalgo County have registered $151,708,691.57 in local sales taxes, compared with $146,636,858.63 for the same 10 months in 2014, an improvement of 3.45 percent.

Hidalgo County government does not collect a local sales tax.

All cities in Cameron County generated $5,390,140.54 in local sales taxes in October 2015, compared with $5,422,764.93 in October 2014, a decrease of 0.60 percent. Year-to-date (January through October), all cities in Cameron County have registered $70,924,045.88 in local sales taxes, compared with $68,684,871.07 for the same period in 2014, an improvement of 3.26 percent.

Cameron County government does not collect a local sales tax.

All cities in Starr County produced $398,577.98 in local sales taxes in October 2015, compared with $480,268.14 during the same month in 2014, a decrease of 17 percent. Year-to-date (January through October), all cities in Starr County have registered $5,384,193.94 in local sales taxes, compared with $7,219,148.17 for the same period in 2014, a decrease of 25.41 percent.

Starr County government does not collect a local sales tax.

All cities in Willacy County produced $119,163.26 in local sales taxes in October 2015, compared with $113,966.69 during the same month in 2014, an increase of 4.55 percent. Year-to-date (January through October), all cities in Willacy County have registered $1,547,738.26 in local sales taxes, compared with $1,568,613.88 for the same 10-month period in 2014, a decrease of 1.33 percent.

Willacy County government does not collect a local sales tax.

For details of the October 2015 local sales tax figures for all cities, counties, transit systems, and special purpose taxing districts, locate the Monthly Sales Tax Allocation Comparison Summary Reports at the comptroller’s website:

http://www.window.state.tx.us/taxinfo/allocsum/compsum.html

UTRGV-EDINBURG GRADUATES AVERAGE ALMOST $37,243 DURING FIRST YEAR IN WORKFORCE

All local economies are affected by the educational attainment levels in their communities, and Edinburg, home of the main campus of The University of Texas Rio Grande Valley, is no exception.

At the UT System legacy institutions for the newly launched University of Texas Rio Grande Valley — The University of Texas at Brownsville and The University of Texas-Pan American — graduates, in just one year after graduation, earn significantly more than their peers who did not complete school.

The average salary for UTPA graduates with a bachelor’s degree one year after completion was $37,243, while the average of those who did not finish their studies was $21,600.

The average salary for graduates with a bachelor’s degree from UTB was $34,986, while the average salary for those who did not finish at UTB was $27,677.

Susan Brown, UTRGV Assistant Vice President of Strategic Analysis and Institutional Reporting, says that’s why one of the university’s prime goals is student success.

Many students who do not finish college have roughly three-fourths as much debt than those who earn a bachelor’s degree, but they do not earn a salary commensurate with college graduates, she said.

To help narrow that gap, she said, UTRGV is making sure it is building a university infrastructure that will ensure students can matriculate through college, graduate and find gainful employment.

“We need to do everything in our power to make sure students graduate,” Brown said. “The biggest thing this (data) show is the importance of focusing not only on access, but also making sure we have the resources, once students are let in.”

Bruce Kellison, Ph.D., an economist and Associate Director of UT Austin’s Bureau of Business Research, said the analysis clearly shows the value of starting one’s career with a college degree.

“By matching Texas Workforce Commission salary data with academic achievement records at UT System campuses, the study accurately illustrates the tremendous salary advantages that graduates enjoy over those who don’t complete their degrees,” Kellison said. “The practical knowledge and thinking skills students learn in college provide graduates with the flexibility to adapt to the changing demands of a complex and global work environment.”

Stephanie Bond Huie, Ph.D., Vice Chancellor for UT System’s Office of Strategic Initiatives, said salary data make a strong argument for why it’s necessary for UT System college students to become college graduates.

The Office of Strategic Initiatives presents additional salary data and other key measures of the UT System’s performance on its enhanced Dashboard, which provides access to data on topics such as affordability, student success, post-graduation earnings, research, health care and state economic impact.

The salary data is the first to be presented in a series of UT System briefs called Education Impact. Future briefs in the series will examine trends related to major, industry of employment, and demographic characteristics.

University of Texas System graduates earned $147,910 more in salary over 10 years than students who enrolled at a UT System academic institution but did not graduate.

That amount represents the difference in the cumulative total of 10 years of earnings (2003 to 2013) between graduates with a bachelor’s degree and students who attended a UT System academic campus, but did not complete their degree, according to data from the UT System’s Office of Strategic Initiatives.

Their findings show that UT System grads earn, on average, 45 percent more their first year out of college than students who left without completing their degree. Ten years later, graduates earn $73,000 on average, compared to $55,000 for those who did not earn a degree.

The study included data from more than 325,000 students from The University of Texas at Arlington, The University of Texas at Austin, The University of Texas at Brownsville, The University of Texas at Dallas, The University of Texas at El Paso, The University of Texas-Pan American, The University of Texas of the Permian Basin, The University of Texas at San Antonio and The University of Texas at Tyler.

UT Systems’ Office of Strategic Initiative researchers compiled the salary information based on unemployment insurance wage records from the Texas Workforce Commission. The data analyzed include only those students found working in Texas, as well as those working as U.S. government employees in the U.S. Postal Service, U.S. Department of Defense and U.S. Office of Personnel Management.

••••••

Marcia Caltabiano and Jennifer McGehee contributed to this story. For more information on the Edinburg Economic Development Corporation and the City of Edinburg, please log on to http://edinburgedc.com or to http://www.facebook.com/edinburgedc

Share This

Share this post with your friends!