Edinburg's Economy Shows Impressive Economic Growth
|February 2, 2022|
|Ranked 6th Fastest-Growing Large City in Texas & 12th Fastest-Growing City in the Nation|
EDINBURG, TX – Edinburg continues to rise above and beyond for its residents and business owners by excelling in residential, commercial, and economic growth in the city. The local economy has not only recovered its pre-pandemic employment levels, but according to the US Bureau of Labor Statistics, it is also among the leading Texas metropolitan areas for job growth with a 5.8% increase from December 2020 to December 2021. In 2021. Based on the latest figures released from the 2020 Census, it is no surprise Edinburg is ranked as the 12th fastest growing city in the nation with a population of 100,000 or more residents.
To accommodate the needs of its booming population, Edinburg approved $135M in residential investments for 1,379 new housing units in the last year- a 15% increase from the number of residential permits issued in 2020.
“Edinburg’s growing economy combined with its affordable cost of living, high quality of life, and diverse employment opportunities make it a natural draw for families as well as the ideal choice for entrepreneurs looking to grow their business,” said Edinburg Mayor Ramiro Garza Jr., “But with growth comes great responsibility and our citizens are the beating heart of this great city. I look forward to working alongside our residents to ensure their wants, needs, and vision for the future of Edinburg become a reality. I encourage all our citizens to join us for our 2040 Vision Town Hall on February 10th.”
Edinburg also saw $101M in new commercial investments, which is $21M more than 2020. Despite the ongoing COVID-19 pandemic, Edinburg was able to add 73 new businesses, ranging from local mom and pop startups to large-scale commercial expansions. The City approved over $339M in building and construction permits for 2021, which is nearly double the $164M in permit valuations for 2020.
“Edinburg put the federal funds it received to great use by creating three rounds of the SPARC program and now even a SPARC 4.0. Each phase has helped the city continue to grow by targeting local businesses and helping those who needed it most. The visionary leaders and city staff have really helped Edinburg grow-the things we are doing are making us more efficient and business-friendly than ever before,” said Edinburg Economic Development Corporation Board President Hiren Govind.
In 2021, two major regional projects were announced, the all-new Driscoll Children’s Hospital and South Texas Health System Edinburg’s five-story patient tower. In 2019, DHR Health began discussing the opportunity to expand its pediatric services in the RGV. The eight-level hospital, currently being built on the DHR Health campus, will be leased and independently operated by Driscoll Children’s Hospital. South Texas Health System Edinburg also announced a major expansion project-it is constructing a five-story, $100 million patient tower that will add approximately 60 beds, an enhanced emergency department, expand radiology services, and increase intensive care units and inpatient rehabilitation to existing facilities. Both hospital systems are expected to provide more than 400 jobs to the city of Edinburg and the surrounding RGV region.