McAllen Creating Jobs, Unemployment Among State's Lowest
McALLEN – Business and industry in McAllen have been able to create a net gain of nearly 500 jobs so far this year and keep the city’s unemployment down over the last four months despite challenging economic conditions in the region, across this country and in Mexico.
Businesses in McAllen have added 460 jobs to the city’s labor force since January, and over the last four months, where unemployment has spiked in other parts of the state and country, the city of McAllen’s unemployment rate is stable at 7.5 percent (with 57,000 residents employed). All figures are from the Texas Workforce Commission’s September report – the latest available.
“Even though today we are facing tough challenges in many economic sectors, our recovery will come much sooner because McAllen continues to be aggressive in creating new jobs and new opportunities for business,” said Mayor Richard Cortez. “We continue to work hard to build the type of assets to make our city attractive to new industry, bring visitors to our city and to create a favorable climate for small business and families.”
The efforts have been paying off. In the last year, CNN, Business Week, Forbes, Moody’s and others have highlighted McAllen as a top place to start a business, weather the economic downturn, purchase a home and find a job. McAllen and the region have continued to grow jobs on the strength of population growth, the health and medical and retail sectors and international trade.
What’s more, with a Foreign Trade Zone and two international bridges (Anzalduas is set to open in December), McAllen continues to attract business and international attention for productive symbiotic relations with Mexico. In the months of August and September, the Texas Comptroller issued permits to nearly 200 new businesses that include specialty boutiques, restaurants, personal services companies and other industries.
“Companies are realizing the cost-saving benefits and logistical advantages of having an operation in McAllen and/or Reynosa,” said Keith Patridge, President/CEO of the McAllen Economic Development Corporation. “Here companies and businesses have the option to work within two countries that offer two tax structures, two growing labor forces and two infrastructures. There are many advantages here.”
Unlike most metro areas, the city of McAllen’s 7.5 percent unemployment rate is typically lower than the MSA rate, which is taken from much wider, rural area. The McAllen MSA’s (Hidalgo County) unemployment rate is 11.6, the highest in the state.
In September’s report, McAllen’s unemployment rate is lower than the state average of 8.1 percent and on par with El Paso (7.6), Dallas (7.4), Corpus Christi (7.3) and Fort Worth (7.2) and just a bit higher than Austin (6.6) and San Antonio (6.8). McAllen unemployment has remained flat since June (7.4 percent).
In the Rio Grande Valley and the region, Laredo comes in at 8.5 percent, Brownsville at 11.0, Mission 9.7, Weslaco 9.5, Pharr 8.2 and Harlingen 7.7. Cameron County’s unemployment rate was recorded at 10.8 percent for September as well.