The Rio Grande Valley is a growing economic market in South Texas with a unique cultural and historical heritage. Located on the southernmost tip of Texas, this area is known for its tropical climate and cultural legacy, influenced by its proximity to the border with Mexico. The Rio Grande Valley has experienced significant growth since the 1990’s.
In the year, 2000, the McAllen and Brownsville Metropolitan Statistical Areas (MSA) claimed the number one and two lowest per capita income areas in the nation. Since that time, the region has exploded with growth and innovation.From McAllen, TX to Brownsville, TX , the region is one of the fastest growing metropolitan areas in the United States and is expected to continue growing throughout the 21st century. One of the primary reasons that companies are flocking to this area is because of its ideal location at the southernmost tip of Texas. With easy access to Mexico and the Gulf of Mexico through Brownsville and Port Isabel, this area has a strong economic base.
THE RIO GRANDE VALLEY: ECONOMIC HUB OF TEXAS
The McAllen Edinburg Mission MSA is the fifth largest in Texas with a population of approximately 875,000 nearby Brownsville Harlingen MSA adds another 425,000 residents for a total population of more than 1.3 million people in the valley. Additionally, an estimated 1 million people live on the other side of the border and contribute to the local economy.
The port of Brownsville is the largest land owning public port authority in the nation, offering 51,000 jobs and ranking second in the USA for value of exports with approximately 40,000 acres.
The gateway to the American dream for many is through the Rio Grande valley, 14 international bridges across star Hidalgo, and Cameron counties are a huge economic driver for the region, both in terms of trade and employment. The Hidalgo port of entry alone contributed and estimated 35.4 billion to the economy in 2018, the port of Brownsville provides 51,000 jobs and ranks. The region is expected to continue growing in coming years due to its proximity to Mexico (just 14 miles south), easy access to ports on both sides of the border as well as coastal cities such as Houston and Corpus Christi (both about an hour away), and its economy driven by agriculture and manufacturing.
The RGV has experienced rapid growth over the past 10 years since oil prices have increased worldwide. Recent news reports show that this region is becoming an increasingly popular place for business owners looking to expand their operations or start their own businesses in an area with low costs of living but high quality workforce opportunities available locally.
The University of Texas Rio Grande Valley
With multiple campuses spread across the Valley, UTRGV has a student population of over 32,000 and feeds into the university of Texas system. This institution attracts talent funds research and adds credibility to the region. The higher education center at McAllen opened its stores in the fall of 2018. As part of Texas a and M university. The higher education center at McAllen is committed to supporting the educational needs of its students by providing top tier programs to fulfill student career goals, enhancing economic development of the region and producing a skilled workforce.
Elon Musk & SpaceX
Elon Musk SpaceX launches their rockets from their Boca Chica facility. Along with bringing 1400 jobs to the region. Musk has committed 30 million to investing in Cameron county infrastructure and public schools travel into the region is easy with three major international airports in McAllen, Harlingen and Brownsville.
South Padre Island
Roughly 5 million visitors a year flock to the gorgeous south Padre island beaches, providing jobs in the hospitality and tourism industries and bolstering tax revenues through sales and occupancy taxes.
In 2008, Forbes identified McAllen as one of the best cities in America to start a business or career.
In 2008, Forbes identified McAllen as one of the best cities in America to start a business or career. The city has a strong economic base and a low cost of living, making it an affordable place to live. McAllen also boasts a low crime rate and safe neighborhoods that make it easy for residents to feel good about where they’re living. With access to high-quality healthcare at nearby hospitals like Driscoll Children’s Hospital and UTMB Health Rio Grande Valley Hospital, as well as several colleges and universities within driving distance (including Texas A&M University-Kingsville), there’s no shortage of opportunities for education or employment in this border town—and plenty more reasons why you should consider moving here!
The Next Big wave
Real estate investors today who are looking for unsaturated markets, have a rare window of opportunity to ride the next big wave. The Rio Grande valley checks the boxes on the three fundamental indicators that are essential for any solid investment strategy, GDP growth, employment growth, and population growth. Imagine having the opportunity to invest in Houston or San Antonio, five to 10 years before they became the thriving metropolis as they are today. The valley is not just where the Rio grand river flows, but where the smart Texas money flows as well.