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Edinburg retail economy in December 2016 performed better than average of all cities statewide; Mayor García, Mayor Darling to share latest economic news in Edinburg on Thursday, March 2

Featured: The Center for Border Economic Studies (CBEST) of The University of Texas Rio Grande Valley on Friday, January 27, 2017, hosted its Economic Forecast Luncheon at the McAllen Public Library Conference Center. Visitors heard about the research and predicted outcomes of economic development in the area from speakers that included Francisco García Cabeza de Vaca, Governor of Tamaulipas, Mexico; Dr. Salvador Contreras, Director of CBEST; Dr. Dennis Jansen, Professor of Economics, Texas A&M University; María D. Juárez-Serna, Director of the UTRGV Small Business Development Center; and Dr. Keith R. Phillips, Assistant Vice President and Senior Economist, Federal Reserve Bank of Dallas, San Antonio Branch. Contreras addressed current and future regional economic activity, including the new, large retailers building in the McAllen-Edinburg-Mission area that place the MSA among some of the top metros in Texas, including San Antonio and Austin. The luncheon concluded with Gov. García Cabeza de Vaca, who told the crowd, “We can grow juntos (together) more than we can as two,” and encouraged our country to “build bridges, not walls.”

Photograph By SILVER SALAS

While the combined average of cities statewide in December 2016 showed a 0.9 percent decrease,  Edinburg recorded a 1.33 percent increase in its retail economy, according to the Texas Comptroller of Public Accounts. For the month of December 2016, Edinburg’s retail economy – as measured by local sales taxes generated from purchases of eligible goods and services – had the third-best showing among the Valley’s largest cities. That figure is based on sales made in December 2016 by businesses that report tax monthly; October, November and December sales by quarterly filers; and 2016 sales by businesses that report tax annually. The local sales tax is used in Edinburg to help pay for many city services, while the Edinburg Economic Development Corporation uses its one-half cent local sales tax to help generate economic development in the city. For December 2016, Edinburg’s retail economy generated $2,248,780.54 in local sales taxes, compared with $2,219,178.85 during the same period in 2015, representing the improvement of 1.33 percent, also according to the Texas Comptroller of Public Accounts.

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Edinburg’s retail economy leading major Valley cities in rate of growth during first eight months of 2016

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Featured: Letty Reyes, Director of Business Development and Public Affairs, Edinburg Economic Development Corporation; and Juan Guerra, City Manager, City of Pharr. Both area leaders on Friday, October 7, 2016 participated in a panel discussion about entrepreneurial innovation during the Fourth Annual Binational Innovation Conference (INNO 2016), which was hosted by South Texas College (STC) in McAllen. The Edinburg EDC was a sponsor of the event. INNO 2016 was held at the STC Technology Campus located at 3700 W. Military Highway in McAllen. Also on the panel, but not shown in this image, were: Keith Patridge, President/CEO, McAllen Economic Development Corporation; Francisco “Frank” Almaraz, CEO, Workforce Solutions, Lower Rio Grande Valley; and Bobby Villarreal, County Executive Director, Hidalgo County.

Photograph By LAURA VELA

Edinburg’s retail economy from January through August 2016 has improved more than 4.6 percent, which is the best showing of all major Rio Grande Valley cities, and better than the statewide average of a 1.1 percent increase of all cities in the state, according to the Texas Comptroller of Public Accounts. For the month of August 2016, Edinburg’s retail economy – as measured by local sales taxes generated from purchases of eligible goods and services – also remained healthy, showing an almost two percent improvement over the month of August 2015. Those figures are based on sales made in August 2016 by businesses that report tax monthly, according to the Texas Comptroller of Public Accounts. The local sales tax data is among the latest economic barometers featured in a detailed summary provided by the state comptroller’s office, which released retail sales figures on Wednesday, October 12, 2016. During the first eight months of 2016, Edinburg’s retail economy produced $17,592,870.93 in local sales taxes, compared with $16,812,351.02 for January through August 2015, representing an improvement of 4.64 percent. For August 2016, Edinburg’s retail economy generated $1,702,561.82 in local sales taxes, compared with $1,671,788.87 during the same period in 2015, representing the improvement of 1.84 percent, also according to the Texas Comptroller of Public Accounts. 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). The local sales tax is used in Edinburg to help pay for many city services, while the Edinburg EDC 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 Edinburg EDC, of which Agustín García, Jr. is Executive Director, is the jobs-creation arm of the Edinburg Mayor and Edinburg City Council. The Edinburg EDC Board of Directors is comprised of Mayor Richard García as President, Elías Longoria, Jr., Harvey Rodríguez, Jr., Richard Rupert, and Dr. Peter Dabrowski.

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Edinburg’s retail economy in July 2016 showed more than a 3.4 percent improvement over July 2015, and almost 5 percent growth year-to-date

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Board members, students, teachers, and staff with the Edinburg Consolidated Independent School District, along with other community leaders, including Mayor Pro Tem Richard Molina, recognized Sgt. Francisco Barrientes on Wednesday, September 7, 2016, during a public celebration of the 10th anniversary of naming Barrientes Middle School in his honor. Featured, from left: ECISD Superintendent Dr. René Gutiérrez; ECISD School Board Member Carmen González; Alex Ríos, District Director for State Rep. Terry Canales, D-Edinburg; Sgt. Francisco Barrientes; Edinburg Mayor Pro Tem Richard Molina; Robert López, Principal, Barrientes Middle School; Eva T. Torres, ECISD Assistant Superintendent of Curriculum & Instruction; and ECISD School Board Member Ellie M. Torres, the immediate past Secretary/Treasurer of the Board of Directors for the Edinburg Economic Development Corporation. The Edinburg EDC is the jobs-creation arm of the Edinburg Mayor and Edinburg City Council. Mayor Pro Tem Molina is one of two veterans who serve on City Council. Mayor Richard H. García is also a U.S. Army veteran.

Photograph By MARK MONTEMAYOR

Edinburg’s retail economy during July 2016 showed a more than 3.4 percent improvement over July 2015, which was the second-best showing among all major Valley cities – and much better than the statewide average for all cities in Texas, which was down 1.6 percent from the same month last year, the Edinburg Economic Development Corporation has announced. For the first seven months of 2016, Edinburg’s retail economy – as measured by local sales taxes generated from purchases of eligible goods and services – also remained healthy, showing an almost five percent improvement over January through July 2015. During the first seven months of 2016, Edinburg’s retail economy produced $15,890,309.11 in local sales taxes, compared with $15,140,562.15 for January through July 2016, representing an improvement of 4.95 percent.For July 2016, Edinburg’s retail economy generated $1,601,962.79 in local sales taxes, compared with $1,549,113.91 during the same period in 2015, representing the improvement of 3.41 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 Edinburg EDC uses its one-half cent local sales tax to help generate economic development in the city. The Edinburg EDC Board of Directors is comprised of Mayor Richard García as President, Elías Longoria, Jr., Harvey Rodríguez, Jr., Richard Rupert, and Dr. Peter Dabrowski.

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Edinburg’s retail economy in June 2016 showed 8.52 percent improvement over June 2015, and 5.12 percent growth during first half of 2016

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Featured, from left: Nick Cantú, Realtor/Owner, Jinks Realty, Mayor Pro Tem Richard Molina, and Abisai Y. Ortiz, Realtor, Jinks Realty, during the Jinks Realty Ribbon Cutting and Open House on Friday, May 6, 2016 at Grindstone Coworking, 506 W. University Drive in Edinburg. Not pictured are Lee Jinks, Broker/Owner, Jinks Realty, Jania Cantú, Realtor, and Mary Alice Palacios, Realtor (www. JinksRealty.com). In addition to new businesses opening in the city, Edinburg’s economy continues to show continuing growth based on other financial figures, including in retail sales activities, according to the Texas Comptroller of Public Accounts.

Photograph By RONNIE LARRALDE

Edinburg’s retail economy during June 2016 showed a more than 8.5 percent improvement over the same month last year, a figure that is much better than the statewide average improvement of 1.8 percent for all cities, the Edinburg Economic Development Corporation has announced. For June 2016, Edinburg’s retail economy generated $2,000,505.08 in local sales taxes, compared with $1,843,334.30 during the same period in 2015, representing the improvement of 8.52 percent, according to the Texas Comptroller of Public Accounts. During the first six months of 2016, Edinburg’s retail economy produced $14,288,346.32 in local sales taxes, compared with $13,591,448.24 for January through June 2016, representing an improvement of 5.12 percent. The local sales tax is used in Edinburg to help pay for many city services, while the Edinburg EDC uses its one-half cent local sales tax to help generate economic development in the city.

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Edinburg’s retail economy again registers best monthly rate of improvement – almost 11 percent – among Valley’s major cities for May 2016 – and better than Texas average

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Featured, from left: Daniel Rivera, Founder, Grindstone Coworking of Edinburg (www.TheGrindstone.co) and Agustín García, Jr., Executive Director of the Edinburg Economic Development Corporation, reviewing key data about the strength of the Edinburg economy prior to a broadcast interview on Tuesday, May 10, 2016 on KURV710 Talk Radio.

Photograph By DIEGO REYNA

For the second consecutive month, Edinburg’s retail economy during May 2016 had the best rate of improvement – 10.78 percent – over the same month last year among the Valley’s major cities, while by comparison, cities statewide reported a combined average improvement of 2.7 percent in May 2016 compared with May 2015, the Edinburg Economic Development Corporation has announced. These figures are based on sales made in May 2016 by businesses that report tax monthly. For May 2016, Edinburg’s retail economy generated $1,730,440.77 in local sales taxes, compared with $1,561,948.68 during the same time in 2015, representing the improvement of 10.78 percent, 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 Edinburg EDC uses its one-half cent local sales tax to help generate economic development in the city.

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