Edinburg Sees Dramatic Increase In Construction Activity
|April 25, 2022|
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EDINBURG, TX – Business is booming in the City of Edinburg. City leaders are thrilled to report a 68% increase in construction activity in March 2023 versus March 2022 as the community continues to experience incredible growth.
In the first three months of this year, total construction activity has surpassed $107 million. In the first three months of last year, construction activity reached only $38 million.
“The construction activity is phenomenal,” Mayor Ramiro Garza, Jr. said. “We are looking at about two and a half times more activity than last year in the first quarter alone. This growth is incredible.”
The announcement of the construction of University Village, a large mixed-use development of nearly 40 acres, set to be established on SH 107 and North 10th Street, contributed to booming multi-family activity in the city with over $23.7 million in new value reported for March 2023. Two hundred and twenty-one building permits were issued in March 2023, up 25% from March of last year.
In addition, reported commercial activity last month was just over $13 million, a $9 million increase from the previous year. Building permits pulled by Palm Valley Church, the University Village Clubhouse, and Tractor Supply contributed to the commercial increase.
March numbers also show a sales tax revenue increase of 12.3%. Year-to-date totals reveal that receipts from January 2023 to March 2023 are 7.8% higher than last year, an indication that more people are shopping in Edinburg and more businesses are coming into the area.
“The numbers we are seeing reflect consistent growth in the City of Edinburg, and it’s exciting,” Mayor Garza said. “We are seeing incredible interest in investment from developers, from housing providers, and from businesses here within the city. We are expanding our tax base, and we know that’s not just good for business and not just for workers but for the entire community. It’s shaping up to be another banner year for us.”
As Edinburg’s economy prospers, its impact does not go unnoticed amongst the city’s workforce. With the second lowest unemployment in the Rio Grande Valley at a rate of 5.3%, the City of Edinburg looks forward to industry growth for the remainder of the year.
For more information on economic development in Edinburg, visit www.EdinburgEDC.com.