Business
Business news from McAllen and the Rio Grande Valley.
BusinessMicrosoft to Cut 4,800 Jobs, Including in Xbox, in Its 'Most Significant Restructuring'
Microsoft plans to cut approximately 4,800 jobs, representing 2.1% of its global workforce, in what it calls its most significant restructuring to date. The layoffs will primarily impact its commercial sales and Xbox divisions, with around 3,200 positions expected to be eliminated in the Xbox division by fiscal year 2027. Immediate cuts will affect about 1,600 employees. Asha Sharma, the new head of Xbox, emphasized that these changes do not reflect the talent of the affected employees. Microsoft will continue to invest in Xbox despite acknowledging its current unprofitability. The company is also reorganizing its workforce to adapt to evolving customer needs and technological changes.
BusinessBanks, Costco, USPS and More: What's Open and Closed This July 4th?
On July 4th, many banks, government offices, and postal services will be closed in observance of Independence Day. This year, the holiday falls on a Saturday, coinciding with the 250th anniversary of the Declaration of Independence. While federal offices and courts will be closed, most retailers, supermarkets, and restaurants plan to remain open, although some may have reduced hours. Notably, Costco will close its stores for the holiday. Customers are advised to check local store hours, especially for delivery services like UPS and FedEx, which will also have limited operations on this day.
Business'It's the uncertainty': Valley businesses worry about future of USMCA
MCALLEN, Texas (ValleyCentral) — While the U.S.-Mexico-Canada Agreement (USMCA) remains in effect, Rio Grande Valley business leaders say uncertainty surrounding its future is already making it more difficult to plan investments, hire workers and prepare for long-term growth. The Trump Administration has begun the six-year review of the trade agreement rather than providing long-term certainty
BusinessJorge Torres says, “USMCA Uncertainty Isn’t Over, Businesses Must Prepare
Jorge Torres, President of Interlink Trade Services, stated that the U.S. decision not to extend the USMCA in 2026 prolongs uncertainty for North American businesses. The agreement includes a sunset clause requiring member countries to review it in 2026, with potential annual reviews until 2036 if not renewed. Torres noted that while the U.S. did not support the extension, companies have adapted to existing uncertainties from previous tariff policies. He emphasized the importance of strong trade compliance and communication for businesses in the Rio Grande Valley, suggesting that preparation can turn uncertainty into opportunity.
BusinessSmall Business Job Openings Rebound
According to the NFIB’s June Jobs Report, the Small Business Employment Index remained nearly unchanged at 100.2, down from 100.3 in May, marking the fourth consecutive month of decline. Despite being below the 2025 average of 101.2, it is slightly above the historical average of 100.0. In June, 32% of small business owners reported unfilled job openings, an increase from May. While 62% of owners attempted to hire, many struggled to find qualified candidates. Labor quality was cited as the top issue by 19% of owners, while labor costs decreased as a concern.
BusinessGovernor Celebrates Caterpillar’s $5 Million Investment In Texas’ Manufacturing Workforce
Governor Greg Abbott attended a celebration at Caterpillar Inc.'s engine manufacturing facility in Seguin, where the company announced a $5 million investment in Texas. This funding is part of Caterpillar's five-year, $100 million Building the Future Workforce Initiative aimed at enhancing job training programs. The initiative will focus on reducing training barriers, developing skills for advanced manufacturing roles, and connecting students to high-demand careers. Abbott emphasized that Texas's strong infrastructure and educational institutions, like Texas State Technical College, make it an ideal location for this investment, which aligns with the state's workforce development strategy.
BusinessFormFactor Secures $24 Million Texas Semiconductor Grant
FormFactor Inc. has received a $24.2 million grant from the Texas Semiconductor Innovation Fund for a new probe card manufacturing facility in Farmers Branch. This advanced facility is projected to create over 600 jobs and will involve a capital investment between $140 million and $170 million by 2026. Texas Governor Greg Abbott emphasized the importance of this investment for the semiconductor supply chain and job creation in North Texas. The facility will enhance FormFactor's production capabilities, supporting the global semiconductor industry, particularly in logic and memory chip manufacturing essential for AI and data centers.
BusinessMajor Regional Highway Expansion SL 195 Phase One Reaches 38% Completion
The expansion of State Highway 195 in South Texas has reached 38% completion, marking significant progress in a multi-phase project aimed at enhancing regional connectivity and traffic safety. Current construction focuses on the Los Olmos Bridge, which spans approximately 1.38 miles, along with essential earthwork and drainage infrastructure installation. Once completed, the highway will feature two 12-foot lanes and improved shoulders for better traffic flow. Future phases are already in planning, with Phase Two expected to begin construction in September 2026 and Phase Three projected for February 2028. Motorists are advised to remain cautious in work zones.
BusinessKids Mercadito to Inspire the RGV’s Next Generation of Entrepreneurs
Mija Media House, in partnership with the RGV Hispanic Chamber of Commerce, is launching the "Vendiendo Con Mi Grandma & Grandpa Kids Mercadito" on August 14, 2026, from 11 AM to 4 PM in Pharr, TX. This initiative aims to teach children about entrepreneurship, financial literacy, and leadership through hands-on experience. The City of Pharr is providing venue support, while the Pharr Memorial Library promotes literacy. Participants will receive training and set up their own business booths, gaining skills in customer service and money management. Registration is now open for interested children and community members are encouraged to attend.
BusinessRemittances to Mexico Rise 2.8% in First Five Months of 2026; Trend Remains Upward
Mexico received $25.287 billion in remittances in the first five months of 2026, marking a year-over-year increase of 2.8%, continuing an upward trend after nearly a year of declining income due to the tightening of U.S. anti-immigration policies, the Bank of Mexico (Banxico) reported on Wednesday. This amount is $520 million more than the $24.588 billion received in the same period of 2025, according to Banxico. However, the number of transactions fell by 2.3% to 62.99 million, with 99.2% of them being electronic transfers. In May alone, Mexico received $5.611 billion in remittances, a year-over-year increase of 3.8%. Additionally, compared to the previous month, remittances rose by 6.7%. In May 2026, there was a year-over-year decrease of 1.7% in the number of remittances received, totaling 13.9 million transactions, but the average amount increased by 5.6% to $404.
Business14 units, 7 duplexes: Texas GLO, San Juan Housing Authority break ground on new cottages
HARLINGEN, Texas (ValleyCentral) — Local and state officials broke ground Wednesday to mark the construction of new affordable housing in San Juan. Fourteen new units across seven duplexes will make up the San Juan Cottages, a project directly responding to rental housing losses caused by storm damage. The project was funded in part with a
BusinessFedEx Lightens Up: French Container Company Acquires Its Logistics Division
The French container shipping group CMA CGM will acquire FedEx Supply Chain, FedEx's third-party logistics subsidiary, for $1.4 billion as it works to expand in the United States. CMA CGM stated that the acquisition will triple the size of its own logistics arm, CEVA Logistics, and help consolidate its presence as a contract logistics provider in North America. The company committed to investing $20 billion in its warehousing, air cargo, and logistics operations in the United States over four years by 2025. Both companies indicated they also expect to enter into multi-year agreements for air and ocean freight transportation.
BusinessThe Future of Business Takes Center Stage at McAllen’s InnovationTX
The McAllen Chamber of Commerce and the McAllen Economic Development Corporation (MEDC) hosted the InnovationTX Demo Day Pitch Competition on June 26, 2026, at the McAllen Creative Incubator. This event highlighted emerging entrepreneurs from the Rio Grande Valley, featuring over 20 graduates and a pitch competition with a prize pool of $15,000. First place went to Oshun Cruz of CrossFlip LLC, winning $8,000. The day also included a panel discussion titled 'How 2 Break a Business,' offering insights from local entrepreneurs. The program aims to support business development and community growth, with plans for an expanded event in 2027.
BusinessBrownsville businesses in violation of ordinance have 15 days to submit appeal application
HARLINGEN, Texas (ValleyCentral) — Brownsville Commissioner for District 3 Gustavo De Leon on Tuesday echoed sentiments made by Brownsville Mayor John Cowen regarding the Midtown Entertainment District Ordinance, saying recent closures of bars in the Pablo Kisel area were made in the interest of safety. De Leon said that businesses found in violation of the
Business$113 Million in State Grants Approved to Fortify Panhandle and South Plains Power Grids
Governor Greg Abbott has announced $113 million in grants from the Texas Energy Fund to enhance the reliability of the power grid for customers of Southwestern Public Service Company (SPS) in the Texas Panhandle and South Plains. The funding will support projects aimed at repairing or replacing power poles, increasing protections in high-risk areas, and improving system monitoring. Notably, a drone-based inspection program will assess over 273,000 poles. These initiatives aim to strengthen the grid, reduce costs, and enhance public safety for residents and businesses in the region.
BusinessValley entrepreneurs can apply for free small business start-up program in Brownsville
The Brownsville Community Improvement Corporation has opened applications for the Startup Texas Accelerator program, aimed at helping small businesses across the Rio Grande Valley. Entrepreneurs with viable business ideas can participate in this 12-week program, valued at nearly $20,000, at no cost. Participants will receive mentorship, business training, and pitch coaching, with a focus on emerging industries like AI and medical technology. Only ten businesses will be selected, with half advancing to a second phase for investor connections. The program concludes with a Pitchfest in December. Applications are open until August 10.
BusinessNearly $30 Million In Grants For Electric Reliability In The Panhandle
The Texas Energy Fund (TxEF) has announced a nearly $30 million grant aimed at enhancing electric reliability for members of the Rita Blanca Electric Cooperative, Inc. (RBEC) in the northwestern Texas Panhandle. This funding will support the construction of a new substation, automation upgrades, transformer enhancements, and the replacement of wooden poles with steel structures. Governor Abbott emphasized the importance of reliable energy infrastructure for all Texans. The improvements will benefit residents in Dallam, Hartley, Hutchinson, Moore, and Sherman Counties, enhancing overall reliability, safety, and economic resilience in the region's agricultural community.
BusinessHidalgo County Property Owners have until June 30 to avoid additional 15 percent Collection Fee
Hidalgo County property owners are reminded that all 2025 property taxes must be paid by June 30, 2026, to avoid a 15 percent collection fee. According to the Texas Property Tax Code, unpaid taxes after this date will incur additional attorney fees for collection. Hidalgo County Tax Assessor-Collector Pablo Villarreal emphasizes the importance of this deadline and encourages property owners to check their tax status and settle any outstanding payments. The Tax Office has multiple locations open Monday through Friday for payment assistance. For inquiries, residents can call (956) 318-2157 or visit a local office.
BusinessWorkforce Solutions Jobs Update, 6-29-26
Texas Workforce Solutions is highlighting job opportunities available this week, with a focus on their 'Hot Jobs' listings. For those interested in a career with the Border Patrol, an information session is scheduled for Tuesday, June 30, 2026, from 9 AM to 12 PM. The session will take place at Workforce Solutions South McAllen, located at 2101 S. 2nd St., McAllen, TX 78503. Job seekers can explore these and other available positions at www.workintexas.com.