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If retail sales tax collections are a measure of economic stability, the Rio Grande Valley, South Texas has weathered the national economic storm fairly well as measured by the Texas Comptroller's August reporting period. Retail sales tax collections were down only 2.75% for August 2009 compared to August 2008, ($127.5 million vs $124.1 million). |
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And while McAllen, TX was down 7.49% ($40.3 million vs $37.3 million, Edinburg, TX was up 8.7% $9.2 million vs $10.1 million, Mercedes, TX was up 7.5% 3.8 million vs $4.2 million and Penitas was up 44.8% $154,900 vs $224,323 caused by the opening of the New Wal-Mart store. |
The Rio Grande Valley (RGV) aka, The Valley, is an area located in the southernmost tip of South Texas. It lies along the northern bank of the Rio Grande, which separates Mexico from the United States.
The region is made up of four counties: Starr County, Hidalgo County, Willacy County, and Cameron County. The Rio Grande Valley is the biggest metro area on the U.S.-Mexico border with a population of 2.3 million people. The metro area includes the Valley and northern Tamaulipas cities such as Matamoros, Rio Bravo, Reynosa and Mier.
The region is the third largest metro area in Texas, behind only Dallas-Fort Worth and Houston and within the top 25 metro areas in the nation.
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Sources: Wikipedia, The Rio Grande Guardian
NAI Rio Grande Valley, an affiliate of NAI Global, is a commercial real estate brokerage, development and consulting firm serving the entire Rio Grande Valley, South Texas.
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