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DESPITE BAD MEDIA COVERAGE, MCALLEN AREA TOPS JOB GROWTH LIST

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Posted: 06/01/2012
Author: Daniela Villarreal

Daniela Villarreal
Marketing Coordinator
DVillarreal@riosouthtexas.com
Rio South Texas Economic Council
PO Box 4360
Edinburg, TX 78540
Direct Line (956) 928-0641

June 1, 2012

FOR IMMEDIATE RELEASE:

DESPITE BAD MEDIA COVERAGE, MCALLEN AREA TOPS JOB GROWTH LIST

MCALLEN — “In the four years since the economy hit rock bottom in September 2008, only seven of the nation’s 100 biggest metros added more jobs than they lost,” according to comparative data from the U.S. Bureau of Labor Statistics.  Five of those cities were from Texas, a state which not only pushed through the recession, but also has the strongest post-recession economy of any state, according to Bussinessclimate.com

McAllen, a city in the Rio South Texas region along the Texas-Mexico border, near the Gulf of Mexico, has hardly been immune to the recession. The Rio South Texas region is historically one of the poorest parts of the country but it was named the fastest growing metro area in the nation according to The Fiscal Times, 2012

The McAllen metropolitan statistical area, which includes all of Hidalgo County, is
• Ranked 2nd in terms of job growth
• Forbes listed McAllen as one of the top ten best cities for recession recovery
• 82nd overall, improving on last year’s ranking of third in job growth and 115th overall
• Fourth fastest growing MSA in the nation according to the U.S. Census Bureau
• Ranked #1 in Mid-sized cities for growth and development by "Southern Business and Development Magazine"
• Number one in percentage of jobs created for the nation according to the U.S. Census Bureau

McAllen MSA area has displayed many strong reasons for its consistent growth,
• Its geographic location,
• Tariff-free trade agreements between Mexico and the U.S.,
• An educated labor force,
• A cost of living that is about 17% below Dallas, 38% below Chicago and 54% less than New York; making this area perfect for manufacturers, retailers and recent graduates.

Small businesses are the engines that drive Rio South Texas economy and a major part of why the region has continued to be ranked high in job creation over the last few years.  CNNMoney has even recognized McAllen MSA area among its Best Places to Launch a Small Business.  McAllen and its neighboring towns added nearly 8,000 jobs or 4 percent to its total in the past year and reduced its unemployment rate by a full 1.1 percentage points, to 11 percent.

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