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
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.