Business
Business news from McAllen and the Rio Grande Valley.
BusinessMcAllen real estate market sees high home inventory
McALLEN, Texas (ValleyCentral) — The McAllen-Edinburg-Mission metro area has close to nine months of inventory on the market -- a decade-high number, according to Texas A&M's Real Estate Research Center. Real estate agent Michael Jinks, a third-generation real estate agent with Winner's Circle, explains the reason behind the record number. “The reason for that is
BusinessDonna mobile home business warns of fake accounts scamming buyers online
A mobile home business in Donna, J. Webber Homes, is warning potential buyers about scammers using their name on social media. Manager Israel Webber reported that fake accounts on platforms like TikTok and Facebook are soliciting down payments for homes that the business does not sell. One customer almost fell victim to the scam, which has been ongoing for months. The Better Business Bureau has received reports of individuals losing significant amounts of money, with one case involving a $10,000 loss. Webber urges caution and advises customers to verify before making any payments, as they do not request money upfront without a home viewing.
BusinessThe $148.8 Billion Economic Impact of Military Installations in Texas
A recent study reveals that U.S. military installations in Texas contribute approximately $148.8 billion to the state's economy, supporting 628,884 direct and indirect jobs. Governor Greg Abbott emphasized Texas's long-standing military tradition and the importance of these installations as major local employers. The analysis includes active-duty personnel, civilian employees, contractors, and their dependents. The Texas Military Preparedness Commission advises on military issues and works to enhance the state's military infrastructure and readiness, ensuring Texas remains a prime location for military operations and families.
BusinessNew eBridge Business Academy Cohort Set for August 11 Start
The Brownsville Community Improvement Corporation (BCIC) will launch a new cohort of the eBridge Business Academy from August 11 to September 1, 2026. Classes will be held on Tuesdays and Thursdays from 9:00 a.m. to 12:00 p.m. at the eBridge Center for Business and Commercialization, located at 1304 E. Adams St. in Historic Downtown Brownsville. This free program, which follows the Kauffman FastTrac curriculum, is available in both Spanish and English. No prior business registration is needed to apply, and applications are currently open at www.ebridgebusinessacademy.com. A subsequent cohort will begin on September 8, 2026.
BusinessToyota Tacoma Returns To Texas Soil In $3.6B Bet
(TestMiles) - Toyota’s pickup strategy just made a sharp turn back toward Texas. The automaker has approved a $3.6 billion expansion at its San Antonio manufacturing campus, a move designed to bring Tacoma production back to U.S. soil after years of relying on Mexico for the midsize truck. The plan calls for a new 2.5-million-square-foot
BusinessPharr International Bridge ranked top produce crossing in the US
The Pharr International Bridge has been recognized as the leading produce crossing in the United States, according to a recent announcement from the city. Avocados dominate the traffic, with 70% of U.S. avocado imports passing through this bridge. In the weeks before the Super Bowl, around 120 million pounds of avocados were transported. Other significant imports include tomatoes, peppers, and papayas. Pharr International Bridge Director Luis Bazan noted that the bridge handles approximately 110,000 shipments annually. With ongoing expansion work expected to finish in November, the bridge is set for further growth in produce imports.
BusinessWeslaco applies for $16 million grant to fix leaking water reservoir
Weslaco city officials have submitted a grant application for $16 million to repair a leaking water storage reservoir. City Engineer Peter Hermida explained that the reservoir's bottom has deteriorated over time, leading to daily water loss as the ground absorbs it. The original clay liner has eroded, exacerbating the issue. City leaders are optimistic that the repairs will not burden taxpayers. The grant application is now under review by the Texas Water Development Board.
BusinessTexas Upstream Energy Sector Secures Third Consecutive Month of Job Growth
The Texas Workforce Commission reported that the upstream oil and natural gas sector added 4,100 jobs in May 2026, marking three consecutive months of job growth. Todd Staples, president of the Texas Oil & Gas Association, emphasized the importance of exploration and production jobs in maintaining the industry's strength. The sector not only supports over 850,000 jobs directly and indirectly but also contributes to the economy by creating additional employment opportunities. Since the pandemic's lowest point in September 2020, the sector has seen an increase of 40,500 jobs, reflecting a recovery of nearly 26%.
Business$33.6 Million Texas Semiconductor Innovation Fund Grant Awarded To Texas Instruments
Governor Greg Abbott announced a $33.6 million grant from the Texas Semiconductor Innovation Fund (TSIF) awarded to Texas Instruments (TI) for enhancements at their Richardson semiconductor wafer fab. This initiative is part of a larger $700 million capital investment aimed at expanding TI's manufacturing capabilities. Texas Instruments, a key player in the semiconductor industry, has a rich history of innovation, including the invention of the integrated circuit. The funding will support the production of essential chips for various electronic devices, reinforcing Texas' leadership in semiconductor manufacturing and technology.
BusinessCash App to Pay $45 Million in Texas Settlement Over Deceptive Safety Claims
Texas Attorney General Ken Paxton announced a $45 million settlement with Block, Inc., the parent company of Cash App, following allegations of misleading consumers about the app's safety. The settlement, resulting from a multistate investigation involving 46 states, found that Cash App failed to provide adequate fraud protection and misrepresented its services as a secure banking alternative. Users faced issues like lax verification, lack of customer support, and delayed fraud investigations. As part of the settlement, Cash App must enhance customer support, stop misleading claims, and ensure proper investigation and reimbursement for unauthorized transactions. Texans will receive nearly $5 million from the settlement.
BusinessPharr EDC and UTRGV ECC Launch “The Art of Entrepreneurship” Series
The Pharr Economic Development Corporation (Pharr EDC) and the University of Texas Rio Grande Valley’s Entrepreneurship & Commercialization Center (UTRGV ECC) launched the "Art of Entrepreneurship" series at the Pharr Global Business Hub. The event gathered entrepreneurs, artists, and community members to explore the link between creativity and economic growth. Highlights included presentations from local creative leaders, networking opportunities, and an art exhibition featuring works by Rio Grande Valley artists. Several pieces will remain on display for three months. The series aims to foster collaboration between the arts and business sectors, enhancing the region's entrepreneurial ecosystem.
BusinessJorge Torres Says New Supply Chain Rules Increase Compliance Challenges for Importers
Jorge Torres, president of Interlink Trade Services, highlights the increasing compliance challenges faced by U.S. importers due to conflicting regulations. The U.S. Uyghur Forced Labor Prevention Act mandates that imported goods must not be produced with forced labor, while Chinese restrictions limit access to supply chain information. This creates difficulties for importers, as U.S. Customs may require extensive documentation to prove compliance, potentially delaying shipments. Industries like textiles and minerals are particularly affected. Torres suggests that companies may need to diversify sourcing to countries like Mexico to mitigate risks, as U.S. scrutiny of imports continues to intensify.
BusinessLUPE working to provide affordable internet service
La Union del Pueblo Entero (LUPE) is exploring the creation of its own internet service provider and is seeking community feedback through a survey. Community Organizer Marco Lopez emphasized the importance of understanding local residents' internet usage and costs, as many have expressed concerns about their current providers. The organization aims to offer affordable internet services in the future and is also recruiting individuals to join a committee focused on addressing the digital divide. Residents can participate in the survey to share their experiences and opinions on internet access.
BusinessAEP Texas lands $3 billion federal loan to upgrade power grid
AEP Texas has secured a federal loan exceeding $3 billion from the U.S. Department of Energy to enhance the power grid. This funding will support 89 transmission line projects, some of which extend beyond the Rio Grande Valley. However, AEP Texas assures that local customers will still reap the benefits. Adrian Rodriguez, President and COO of AEP Texas, emphasized that this loan allows for lower financing costs and quicker project completion. The reduced interest rates are projected to save residents approximately $685 million over the next 30 years.
BusinessAffordable Homes of South Texas Dedicates Robert “Bobby” Calvillo HomeOwnership Center
On July 8, 2026, Affordable Homes of South Texas dedicated its HomeOwnership Center to Robert “Bobby” Calvillo, honoring his contributions to expanding homeownership in the Rio Grande Valley. The ceremony, attended by family, board members, and community leaders, marked the anniversary of Calvillo's joining the organization. Myra L. Martinez, CEO, emphasized Calvillo's belief in home as a foundation for families. The event included remarks from former McAllen Mayor Jim Darling and a display of memorabilia from Calvillo's career. The center aims to continue providing support and education for future generations in the community.
BusinessBorder Report Live: Bridge expansion moves on despite USMCA uncertainty
In this episode of Border Report Live, South Texas correspondent Sandra Sanchez and host Rudy Mireles talk about the new funds, which were provided through the Department of Transportation's Better Utilizing Investments to Leverage Development (BUILD) grant program.
BusinessTexas Department of Insurance Opens Home and Auto Data to Help Consumers Shop Smart
The Texas Department of Insurance (TDI) has launched new online resources to help residents access data on home insurance claims, premiums, and auto rate filings. Texas Insurance Commissioner Amanda Crawford stated that this initiative enhances transparency, allowing consumers to better understand claims and premium costs in their areas. The data reveals that in 2025, insurance companies paid out $8.74 billion in claims for various damages, with wind and hail accounting for 62% of losses since 2019. Additionally, TDI provides information on average premiums by county and allows consumers to check if their insurance company has filed for rate changes.
BusinessThe Texas Stock Exchange Is Officially Open for Business
The Texas Stock Exchange (TXSE) has officially launched, marking a significant development in the state's financial landscape. This new exchange aims to enhance competition and efficiency in capital access, addressing the historical dominance of NYSE and NASDAQ. Texas is rapidly becoming a hub for various industries, including technology and finance, with major banks employing around 100,000 people in the state. The TXSE is expected to foster growth by providing essential infrastructure and attracting companies looking to enter public markets. This initiative is part of a broader trend of businesses relocating to Texas, further solidifying its economic prominence.
BusinessSan Juan road improvement project disrupts access to local businesses, owner says
A road improvement project on Nebraska Avenue in San Juan is impacting local businesses, according to Coral Beauty Salon owner Maria Coral Bitales. The construction, which spans from Business 83 to 12th Street, has blocked access to her salon, leading to a significant drop in customers. Bitales reports that her daily haircuts have decreased from 30-35 to 15-20, resulting in a loss of about $250 daily. San Juan City Manager Ruben Guajardo acknowledged the necessity of the project, which costs $447,000 and is funded by a state bond, urging patience from the community as it is expected to be completed by early August.