Business
Business news from McAllen and the Rio Grande Valley.
Business5 On Your Side: Rio Hondo homeowner left with $38K in unfinished repairs
A homeowner in Rio Hondo, Melisa Martinez, has been left with $38,000 in unfinished repairs after hiring Alta RGV Construction nearly a year ago. She contracted the company for roof work and remodeling, but issues persist, including a leaking roof and an unbuilt wheelchair ramp. Martinez claims the project was supposed to take two to three months but has dragged on due to permit delays and other complications. She plans to pursue legal action to recover her funds. The Better Business Bureau advises homeowners to ensure all agreements, including completion dates, are documented before starting any work.
BusinessMexico's Victory in World Cup Brings Nearly $70 Million in Benefits
MEXICO CITY – The Confederation of National Chambers of Commerce, Services, and Tourism (Concanaco Servytur) estimated on Friday that Mexico's 2-0 victory over South Africa at the start of the 2026 World Cup generated an economic benefit exceeding 1.2 billion pesos (about $69.6 million) in Mexico City and areas linked to the tournament. The organization attributed the spending to consumption in restaurants, hotels, bars, transportation, retail, souvenir sales, and local activations, according to a statement released after the opening match. 'Nationally, the tournament could represent up to 65 billion pesos (almost $3.768 billion) for the sector, provided that opportunities also reach micro, small, and medium enterprises (MiPyMEs) and are not concentrated in large chains,' warned Octavio de la Torre, president of Concanaco Servytur. The Confederation noted that businesses in the so-called 'last mile,' the access perimeter to the Estadio Ciudad de México, better known as Estadio Azteca, opened their doors despite declines in sales attributed to mobilizations by the National Coordinator of Education Workers (CNTE).
BusinessMcAllen Public Library, Workforce Solutions to host weekend job fair
HARLINGEN, Texas (ValleyCentral) — The McAllen Public Library and Workforce Solutions are partnering to host a free job fair on Saturday. More than 40 employers are scheduled to attend the event to network with potential employees. A list of employers scheduled to attend the job event is available at this link. The job fair will
BusinessGrants available for businesses in Mission downtown area
Businesses located in the downtown area of Mission may be eligible for grants of up to $25,000, as announced by the Mission Economic Development Corporation. These funds can be allocated for building renovations, equipment purchases, or inventory and do not require repayment. The grants are specifically for businesses situated along Conway Avenue from 1st to 18th streets in the historic district. Brianna Casares, Programs Director of Mission EDC, noted that past recipients have reported increased profits and hiring. The application period is currently open and will close at the end of the month.
BusinessAnnual Address Highlights Port of Brownsville’s Role as Regional Economic Engine
The Port of Brownsville held its annual State of the Port Address on June 11 at the Rancho Viejo Conference Center, celebrating its 90th anniversary. Business leaders, elected officials, and community members gathered to discuss the port's growth and its role as an economic driver in the Rio Grande Valley. BND Vice Chairman Ernesto Gutierrez highlighted over $30 billion in potential investments across various sectors, including energy and aerospace. The event also recognized the 2026 scholarship recipients from the Port of Brownsville Scholarship Program, emphasizing the port's commitment to local education and workforce development.
BusinessAbbott Highlights Financial Milestone as SpaceX Joins Nasdaq and Nasdaq Texas
Governor Greg Abbott praised SpaceX's decision to dual-list on Nasdaq and Nasdaq Texas as part of its initial public offering. He emphasized that this move not only strengthens Texas's economy but also creates high-skill jobs, showcasing the state as a hub for innovation and global capital. SpaceX, which has its headquarters and Starbase in the Rio Grande Valley, will trade under the ticker SPCX. This dual listing is seen as a significant milestone for both SpaceX and Texas, marking the state's growing importance in global capital markets and its commitment to fostering transformative companies.
BusinessRyan Peterson Discusses Rio Grande Valley Growth and Economic Expansion
Ryan Peterson recently discussed the rapid growth and economic expansion of the Rio Grande Valley (RGV) in an interview with Texas Border Business. He emphasized that the McAllen-Edinburg-Mission metro area is now the fifth-largest in Texas, challenging outdated perceptions of the region as a small town. Peterson highlighted the RGV's strategic position for growth, driven by factors such as its workforce, healthcare expansion, and international trade infrastructure. He noted increasing interest from investors in various sectors, including logistics and healthcare, as the region evolves into a major economic hub. Peterson believes the RGV is already a significant player in commerce and should be recognized as such.
BusinessJorge Torres of Interlink Delivers USMCA Review as Automotive Supply Chains Take Center Stage in McAllen
On June 11, 2026, Jorge Torres, president of Interlink Trade Services, spoke at a COSTEP meeting in McAllen, addressing members of the Cluster Automotriz de San Luis Potosí and regional economic leaders. He discussed the upcoming review of the USMCA, emphasizing its significance for North American trade, and confirmed the agreement's validity until June 30, 2036. Torres highlighted potential changes to vehicle regional value content requirements and the impact of Section 232 tariffs on auto parts. He encouraged manufacturers to explore opportunities in the Rio South Texas Region, known for its logistics advantages and industrial potential.
BusinessHistoric Debut: SpaceX Goes Public with an Astronomical Valuation of $1.7 Trillion
SpaceX is set to make its historic debut on the stock market this Friday, with shares priced at $135 each, giving the company a staggering valuation of $1.77 trillion. Trading under the symbol SPCX, the initial price indications began at 9:50 a.m. ET, although actual trading may take hours to commence. Goldman Sachs leads the underwriting team, alongside Morgan Stanley and others. While the excitement around AI fuels market optimism, some analysts, like those from Morningstar, argue that SpaceX is overvalued, estimating its worth at $780 billion. The IPO is seen as a significant test for financial markets and investor appetite.
BusinessPharr breaks ground on $50 million multi-use facility
Pharr has officially begun construction on a new multi-use facility valued at $50 million. This facility will serve both city operations and public events upon its completion. Mayor Ambrosio 'Amos' Hernandez emphasized the importance of creating a modern and artistic space for the residents of Pharr and the Rio Grande Valley. The project is anticipated to take approximately two years to finish.
BusinessRio Bank Executive Says Bank On INT Helps Retain Local Talent
Albert Guajardo, Senior EVP and Chief Lending Officer at Rio Bank, highlighted the importance of the Bank On INT internship program during a signing ceremony on June 5, 2026. This initiative, a collaboration between the City of Edinburg, the Edinburg Economic Development Corporation, UTRGV, and local banks, aims to nurture and retain talent from the Rio Grande Valley. Guajardo noted increased interest from financial institutions and shared the success of intern Marcus Casarez, who was hired full-time. The program provides students with valuable banking experience while fostering connections between education and local employers.
BusinessMcAllen repair shop has an F-rating and a pattern of broken promises, Better Business Bureau says
Humberto Arruda, an Edinburg resident, paid $2,240 to Menchaca Lawn Equipment Repair in McAllen for equipment repairs but has yet to see results months later. After purchasing a lawnmower, he attempted to buy a generator and concrete saw, only to be told the generator needed parts. Despite multiple visits and varying explanations, no repairs were made. Arruda filed a complaint with the Better Business Bureau (BBB), which has received five unresolved complaints against the shop, leading to an F-rating. Owner Maria Menchaca cited health and staffing issues but denied any intent to mislead customers.
BusinessConstruction begins on multi-use facility in Pharr
HARLINGEN, Texas (ValleyCentral) -- A ceremony was held on Wednesday to celebrate the next chapter of a major development coming to the city of Pharr. City leaders gathered for the official groundbreaking of the city's new multi-center facility, a project that has been in the making for two years. Pharr Mayor Ambrosio Hernandez said the
BusinessMAP: Where Rio Grande Valley shoppers spent the most money in May
HARLINGEN, Texas (ValleyCentral) — The Texas Comptroller's Office on Wednesday released sales tax allocation numbers for the month of May. The numbers show a snapshot of where consumer spending was the strongest across the Rio Grande Valley last month. The allocations are based on sales taxes collected by businesses and may help indicate present and
BusinessMyssie Cardenas-Barajas Appointed to National Association of REALTORS® Data Center Work Group
Myssie Cardenas-Barajas, a REALTOR® and advocate for property rights, has been appointed to the National Association of REALTORS® (NAR) Data Center Work Group. This group, part of the Land Use, Property Rights and Environment Committee, addresses critical issues related to data centers, which are increasingly important due to the rise of artificial intelligence and digital infrastructure. Cardenas-Barajas, who has extensive experience in policy and leadership, aims to balance technological growth with sustainable practices. She emphasizes the need for communities, especially in South Texas, to have a voice in shaping policies that impact land use and resource management.
BusinessTexas Power: The Essential Fuel Behind the Global AI Explosion
Texas is becoming a key player in the global AI landscape due to its abundant land and electricity generation opportunities. Currently, about 140 data center projects are underway in the state, surpassing Virginia as the leading hub for AI infrastructure. These multi-billion-dollar facilities promise well-paying jobs and boost local economies without overwhelming existing infrastructure. They generate significant tax revenue, benefiting counties, cities, and school districts, while also enhancing local services. Despite some initial disruptions during construction, Texas aims for a balanced approach to support both economic growth and community needs.
BusinessGovernor Unveils Major Power Plant Expansions to Strengthen Houston Power Grid
Governor Greg Abbott announced the activation of 456 megawatts (MW) of new natural gas power generation units at NRG Energy’s TH Wharton Generating Station in Houston. These units, funded by the Texas Energy Fund (TxEF), can supply electricity to over 100,000 homes during peak demand. Abbott emphasized the importance of reliable power for Texas's growing economy. The Public Utility Commission of Texas, which oversees the TxEF, highlighted the project as a direct result of voter support for energy reliability. NRG Energy plans to enhance its capacity further with additional projects, aiming for over 1.5 gigawatts by 2028.
BusinessPharr EDC Launches Trade & Tech Initiative with “Restro Tech” Roundtable, June 22nd
The Pharr Economic Development Corporation (Pharr EDC) is hosting a Trade & Tech Roundtable on June 22nd at the Pharr Global Business Hub. In collaboration with the UTRGV Entrepreneurship and Commercialization Center and Resto Tech, the event aims to discuss the impact of artificial intelligence and technology on the restaurant industry. Industry leaders will share insights on innovation and automation, highlighting Dairy Queen's success story in Pharr. The initiative seeks to connect businesses with resources and experts to enhance efficiency and profitability in a digital marketplace. Registration is encouraged for this informative session.
BusinessInflation heats up as Valley gas prices rise again
HARLINGEN, Texas (ValleyCentral) — As inflation rises to its highest level in three years, the Rio Grande Valley is seeing prices at the pump jump sharply. New data from the U.S. Bureau of Labor Statistics released on Wednesday shows the Consumer Price Index (CPI) jumped 4.2% in May compared to last year. That is the highest