Volume two, Issue one
President Vice-President Secretary/Treasurer Director Director Executive Director Assistant Executive Director Project Manager Administrative Assistant EEDC is a non-profit company and is responsible for economic development in the City of Edinburg. This newsletter is produced monthly to update the business community and stakeholders on EEDC’s key initiatives. For more information visit the Edinburg EDC web site at www.edinburgedc.com EEDC Monthly Newsletter I January 2008
Edinburg’s retail economy in November 2007, as measured by the amount of local and state sales taxes generated by a wide range of local businesses, was up more than 16 percent over the same month period in 2006. The latest monthly figure translates into more than $1 million generated in local sales taxes, mostly in November. Between January 1 and November 30, 2007, Edinburg’s economy generated $14,456,157.64 in local sales taxes, compared with $13,011,655.02 during the same period last year, an improvement of more than 12 percent. For the month of November, Edinburg’s economy generated $1,040,411.98 in local sales taxes, compared with $896,393.22 in local sales taxes in November 2006, an improvement of 16.06 percent. We are proud to announce that the City of Edinburg declared the adoption of the City of Santa Catarina, Nuevo Leon as a Sister City. The goals of the Sister City program are simple but bold: to raise awareness of the diverse global interests of members of our community, to promote greater participation in international dialogue and exchange and by doing so, to strengthen the economic development movement, locally, nationally, and internationally. In addition, the Edinburg Economic Development Corporation (EEDC) will host a Roundtable discussion for local industries encouraging insightful comments about Edinburg’s current business and economic environment. As part of a concentrated effort to propel the community’s pro-business attitude toward business attraction, the EEDC is inviting real estate brokers, developers, city departments, and other industry professionals to visit Edinburg and find out about the city’s development activities. The Roundtable is scheduled for Tuesday, January 29th from 11:30 AM to 1:00 PM. As we move forward in 2008, the EEDC continues to work on attracting new businesses to the area. Projects that will be completed in 2008 include: , a 1.1 million square foot regional mall that will include Lane Bryant, JCPenney, Burlington Coat Factory, The SHOE DEPT, and First National Bank amongst others. will be a featured anchor of Trenton Crossroads Plaza, a $10 million investment, 101,000 square foot retail and commercial complex which is being built by One Orion Development, Inc. in southwest Edinburg at the intersection of Trenton and Jackson roads will also open in 2008. Infrastructure improvements at the will also be completed in 2008 allowing the EEDC to create more jobs for our residents. Within these pages, we hope to provide you a snapshot of some of our major initiatives. Not everything we do can be documented in this publication but by giving you a glimpse of some of our agencies’ accomplishments, we hope there is a better understanding of the good work that is being done in our community in the name of economic development. Best Regards, Ramiro Garza, Jr.
EEDC Monthly Newsletter I January 2008
City of Edinburg Residential Building Permits $45,100,000 $40,100,000 $35,100,000 $30,100,000 $25,100,000 $20,100,000 $15,100,000 $10,100,000 $5,100,000 $100,000
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City of Edinburg Commercial Building Permits $50,100,000 $45,100,000 $40,100,000 $35,100,000 $30,100,000 $25,100,000 $20,100,000 $15,100,000 $10,100,000 $5,100,000 $100,000
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EEDC Monthly Newsletter I January 2008
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City of Edinburg Local Sales Tax *FY '05-'06 YTD % Increase from '04-05: 10%
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INTERNATIONAL Economic Development Council While attracting a new company to a community gets lots of press attention, an even more important economic development strategy is the retention and expansion of a community’s existing businesses. A strong business retention and expansion program ensures that the needs of local businesses are being not only heard, but addressed.
Covering both key topics and specialized issues, courses are designed to be interactive and provide a national perspective with a focus on real life experiences, best practices, and tools you can use in your community.
The Edinburg Economic Development Corporation staff attended the Business and Retention course in San Antonio on January 7-8. In this course, attendees learned the “red flags” that may indicate a company is looking to move elsewhere. Attendees also learned how to structure an effective system to respond to business concerns. Course highlights include: * * *
Establishing and organizing a BRE program Creating effective models visitations and surveys
for
business
Tracking feedback and response
The International Economic Development Council (IEDC) is a non-profit membership organization dedicated to helping economic developers do their job more effectively and raising the profile of the profession. When we succeed, our members create more high-quality jobs, develop more vibrant communities, and generally improve the quality of life in their regions. With courses offered throughout the year and around the country, IEDC’s training courses are the leading source of education for professionals at all levels.
EEDC Monthly Newsletter I January 2008
Edinburg’s jobless rate, a key indicator of the strength of the economy, dropped to 3.7 percent, the best showing in the city’s history. The latest statistic, compiled by the Texas Workforce Commission, also showed that Edinburg had the lowest jobless rate among major Valley cities for November 2007. The 3.7 percent jobless rate also represented a drop in the jobless rate from October, 2007, which was 4.4 percent. With the exception of the rate posted for July 2007, Edinburg has either posted in the lowest or second lowest jobless rate in the Rio Grande Valley each month in 2007. The state’s jobless rate in November averaged 4.2 percent, and the U.S. Unemployment rate was 4.7 percent for the same month.
TEXAS Economic Development Council The Edinburg Economic Development Corporation took part in the Texas Economic Development Council 2008 Winter Meeting. The meeting took place January 16 -18 at the Radisson Resort at South Padre Island. Updates on New Market Tax Credits, Emerging Technology Fund, Use of 380/ 381 Agreements, Structural Changes in the AutoIndustry: A View from Texas, are amongst the forums that were presented at this Winter session.
•The TEDC has trained nearly 3,500 local government leaders and board volunteers in our economic development sales tax workshops. •The TEDC raised early awareness about the need for the Texas Enterprise Fund and the Texas Emerging Technology Fund. •The TEDC has consistently lead legislative efforts to protect critical economic development programs.
The Texas Economic Development Council (TEDC) is an Austin-based, statewide, non-profit professional association dedicated to the development of economic and employment opportunities in Texas. The TEDC is a one-stop shop for ideas, information, and influence. TEDC is the largest state association of economic development professionals, volunteers, and elected officials. Their diverse members share a common goal -bringing new investment and jobs to Texas. The TEDC provides information, educational and legislative services to nearly 900 members. Their objective is to support the economic growth of Texas and develop strategies that promote a positive business climate in our state. Recent Accomplishments: •The TEDC was instrumental in the creation of the economic development sales tax in 1989--and has been its most vocal and effective supporter for over 20 years.
- American retailers’ same store sales grew 3.6 percent year on year between Black Friday and December 24th according to MasterCard Advisors, a financial services firm. The luxury sector remained strong, with high-end department, apparel and leathergoods stores and restaurants posting a 7.1 percent growth rate over last year’s holiday season, moderating a bit form mid-season gain of 10.8 percent. Apparel chains were weakest. Women’s wear sales fell 2.4 percent from a year ago, though men’s apparel rose 2.3 percent. Footwear, meanwhile, jumped 6 percent. - Total construction activities in Edinburg between January and November 2007 reached almost $166 million, with new commercial construction leading the way at more than $69 million. Still, the level of new commercial construction through most of 2007 was ahead the previous year’s level, which was reported at $61.5 million from January through November 2006. EEDC Monthly Newsletter I January 2008
Advocacy: Strategy to Unlock Transportation Funding While you might not readily associate the phrase "Open for Business" with the Texas Department of Transportation, it is now part of who we are. Transportation solutions will have to be developed cooperatively between TxDOT, local officials who know their areas' transportation wants and needs, and private investors who can provide much needed infrastructure capital. In fact, TxDOT has already taken the first steps in seeking private investment. The Trans-Texas Corridor is a multi-use statewide network of transportation routes that would allow separate lanes for passenger vehicles and large trucks, as well as for freight railways, high-speed commuter rail and infrastructure for various utilities. With 45 percent of all Texans currently living within 50 miles of Interstate 35—a number expected to grow by the year 2030— TxDOT has begun plans to build a parallel toll corridor called the Trans-Texas Corridor 35. As envisioned, TTC-35 would be built as needed and when financially viable by the private sector.
Following the 2007 legislative session, Texas voters overwhelmingly supported a $5 billion proposal so that the Texas Department of Transportation (TxDOT) can continue building highways across the state. However, since voters approved this money, it cannot be distributed to TxDOT without going back to the legislature for authorization. Rather than hold all highway projects another year until the next regular session of the Texas Legislature, the Governor needs to call a Special Session very soon so that these funds may be invested as the voters intended. The Edinburg Economic Development Corporation took part in the Rio Grande Valley Regional Mobility Task Force, collaborating with other groups across the state, at the Boardroom of the Rio Grande Valley Partnership located at 322 South Missouri Avenue, Weslaco
The word is out that TxDOT is open for business, and the private sector is vying to participate in TxDOT's move to solve the transportation challenge. Interstate 69 is a planned national highway connecting Mexico, the United States and Canada. In Texas, the future I-69 is expected to be developed as part of the Trans-Texas Corridor and would extend from Northeast Texas to Mexico. Two private sector groups have already recognized the potential benefit to helping Texas build this important transportation artery. Outside participation is crucial. With no significant federal or state funding set aside for the future interstate's construction, a public-private partnership will allow the multi-billion project to be developed as needed, as private sector resources are available and after environmental clearance has been obtained. Photo courtesy of: http://www.txdot.gov/publications/ government_and_public_affairs/toll_feasibility_analysis.pdf
EEDC Monthly Newsletter I January 2008
ane Bryant is the latest national retailer to announce plans to open a store at The Shoppes at Rio Grande Valley, a new regional shopping center currently under development in Edinburg, TX at the corner of Highway 281 and Trenton Road. The 6,600 square foot Double Platinum store will feature a full assortment of Lane Bryant apparel including women’s casual, career, activewear, swim, dresses, outerwear, maternity, Photo Courtesy of http://www.daysigncoinc.com/ accessories, as well as Cacique intimates, an in-store lingerie boutique. Projected to open in Fall 2008, the new store will be the company’s only “Double Platinum” store in the market for Lane Bryant. The Shoppes at Rio Grande Valley broke ground on August 2, 2007. The open-air center developed by Manchester, CT based First Hartford Realty Corporation, will feature over 1.1 million sq. ft. of space on a 130-acre site. The super regional shopping center will feature a traditional department store, big box retailers, national and local specialty stores, restaurants, entertainment and a full-service hotel. Lane Bryant joins previously announced retailers, JC Penney, Burlington Coat Factory, The SHOE DEPT and First National Bank. “We are proud to bring Lane Bryant, the leading plus-size retailer in the country, to The Shoppes at Rio Grande Valley,” stated Alice Seale, Director of Leasing for First Hartford Realty Corp. “National retailers are increasingly looking at the Rio Grande Valley as a market that can support multiple locations. There is no doubt that the growth of this region is being recognized by the national retail community,” added Seale. Lane Bryant is the nation’s leader in women’s specialty plus-size apparel, providing stylish, sophisticated, high-quality fashion for women sizes 14-28. With more than 900 stores in 46 states, the retailer has earned strong brand loyalty with customers. In 1995, Lane Bryant began a transformation of the brand and has since become the plus-size industry leader, acknowledged for having a positive influence on the way women feel about their bodies. In 2000, Lane Bryant launched a sensual line of intimate apparel and held the first lingerie fashion show for plus-size women. The event was widely acclaimed and created millions of impressions in the press. In 2004, Lane Bryant partnered with Ford 12+, the plus-size division of Ford Models, in a nationwide search for the next plus-size supermodel. Lane Bryant is headquartered in Columbus, Ohio and is owned by parent company, Charming Shoppes, Inc. Charming Shoppes, Inc. is the nation’s third-largest specialty retail apparel holding company as measured by store units. In addition to Lane Bryant, the company owns and operates Lane Bryant Outlet, Fashion Bug, Fashion Bug Plus, Catherine’s Plus Sizes and Petite Sophisticate. With more than 2,400 stores nationwide, Charming Shoppes mission is to serve the lifestyle apparel needs of women wearing plus sizes with the very best service, fashion selection, value and fit. For more information, please visit www.lanebryant.com or www.charmingshoppes.com. EEDC Monthly Newsletter I January 2008
Highlight: Taxed out? January - H & R Block presents free tax seminars to businesses around the Rio Grande Valley! To help business owners prepare for the tax season, H&R Block will teach business owners how to better manage their small business expenses when filing their taxes. Tax expert Joseph Anthony will also be on hand to answer individual questions from small business owners. Martinez Business & Tax Services of McAllen will also present a tax session to the public. A big thank you to these entities for sharing their knowledge with community businesses in the Rio Grande Valley. Sign up for any of these sessions by calling (956) 292-7535!
- Basics in Business - Learn about permits, licenses, etc. To get your business started. Recommended course for new clients. Fee: None (UTPA Annex, Edinburg) 6pm - 8pm - The Power of Business Planning - Learn about the components of a business plan, a necessary tool for obtaining financing. Recommended for active clients. Fee: None (UTPA Annex, Edinburg) 6pm-8pm. - The Art of Marketing - Learn how to promote your business. Recommended for active clients. - Basics in Business - Learn about permits, licenses, etc. To get your business started. Recommended course for new clients. Fee: None (UTPA Annex, Edinburg) 6pm - 8pm - The Power of Business Planning - Learn about the components of a business plan, a necessary tool for obtaining financing. Recommended for active clients. Fee: None (UTPA Annex, Edinburg) 6pm-8pm. EEDC Monthly Newsletter I January 2008
Sister Cities International (SCI) is the national headquarters for sister city, county and state programs in the United States. The U.S. Sister Cities program traces its roots to 1956 when President Dwight D. Eisenhower proposed a People-to-People citizen diplomacy initiative. Originally a part of the National League of Cities, SCI became a separate, non-profit corporation in 1967 due to the tremendous growth and popularity of the U.S. program.
Sister city partnerships have the potential to carry out , including every type of municipal, business, professional, educational and cultural exchange or project. Sister city programs are also unique in that they inherently involve the three main sectors in a community: and a (and civil society or non-profit organizations).
A sister city, county or state relationship is a between two communities, counties or states in two countries. A sister city, county or state relationship becomes official with a signing ceremony of the top-elected officials of the two local jurisdictions, following approval by the local city councils (county commissions or state legislatures), as appropriate.
Photo courtesy of Imelda Rodriguez, Tourist Director, Edinburg Chamber of Commerce
The Edinburg Economic Development Corporation in partnership with the City of Edinburg and the Edinburg Chamber of Commerce is proud to announce that the City of Edinburg declared the adoption of the City of Santa Catarina, Nuevo Leon as a Sister City. The goals of the Sister City program are simple but bold: to raise awareness of the diverse global interests of members of our community, to promote greater participation in international dialogue and exchange and by doing so, to strengthen the economic development movement, locally, nationally, and internationally. The City of Edinburg welcomed a delegation from Santa Catarina, Nuevo Leon, Mexico, Friday, January 18 at The University of Texas – Pan American in a visit to sign a Sister City partnership that will provide benefits to businesses and communities of both regions. The signing ceremony was held at 11 a.m., Friday, January 18 at the International Trade and Technology Building 1201 West University Drive 300 Block, Dr. Miguel Nevarez Drive.
EEDC Monthly Newsletter I January 2008