Business
Business news from McAllen and the Rio Grande Valley.
BusinessUnemployment Claims Remain Low Despite Increase
Unemployment benefit claims in the United States rose last week but remain at historically low levels despite high inflation and other economic headwinds. The Labor Department reported on Thursday that the number of Americans filing for unemployment insurance in the week ending May 2 increased by 10,000 to 200,000. This figure is below the 205,000 expected by analysts surveyed by data firm FactSet. The previous week's figure, which was the lowest since 1969, was revised upward by 1,000 to 190,000. This data is considered an indirect indicator of layoffs in the U.S. and serves as a near real-time gauge of labor market health. Despite the decline in layoffs indicated by government data, the ongoing war with Iran, now in its third month, has introduced a high degree of uncertainty regarding its impact on the economies of the U.S. and the world, although there is currently a ceasefire agreement and growing optimism that the end of the war is near. U.S. financial markets have surged to near-record levels, and the price of a barrel of U.S. crude remains high at around $90 per barrel. This marks a decrease from last month's peak of $112 but is still 36% higher than before the war began. Gasoline prices have also risen significantly since the conflict started, with the American Automobile Association indicating that the national average on Thursday was $4.56 per gallon, placing a heavier burden on businesses and consumers.
Business'Really, really bad': Valley drivers feeling the impact of high gas prices
HARLINGEN, Texas (ValleyCentral) — Drivers across the Rio Grande Valley are feeling the impact of high gas prices. The average gas price in Texas is $4.09 per gallon for regular unleaded fuel, according to AAA's latest report released on Thursday. It's the first time the average gas price has hit $4 since July 2022. The
BusinessCircle K offering 40 cents off every gallon of gas on Thursday
It's tough to find cheap gas these days, but Circle K is offering a discount at the pump for customers on Thursday.
Business$13 Million Texas Semiconductor Innovation Fund Grant Awarded to Texas A&M University
Governor Greg Abbott announced a $13 million grant from the Texas Semiconductor Innovation Fund (TSIF) to Texas A&M University for expanding its Cyclotron Institute in College Station. This institute has been conducting high-energy heavy-ion particle testing for over 30 years. The funding aims to enhance the facility's capabilities for radiation hardness testing, crucial for developing resilient systems in challenging environments. Texas A&M's expansion will include new beam lines and a modern spectrometer, promoting advancements in nuclear science and semiconductor testing. This investment is expected to bolster national security and create high-tech jobs in the region.
BusinessGrowers Invited to Zoom Briefing on Expanding the Papaya Market, May 27th
The Papaya Board Working Group is hosting a Zoom briefing on May 27, 2026, aimed at Hawaiian papaya growers, shippers, and industry stakeholders. The session will discuss the formation of a performance-based research and promotion board for the U.S. papaya industry. Participants will learn about the market background, the role of Hawaiian producers, and strategies for promoting papayas to consumers. The event is free and encourages direct engagement with organizers. Industry leaders emphasize the need for collaboration to enhance the papaya market, similar to the successes seen with mangoes and avocados.
BusinessCircle K Offers Up to 40 Cents Off Per Gallon on Gas This Thursday
Drivers feeling the pinch from high gas prices can find some relief by fueling up at a Circle K this Thursday. The convenience store and gas station chain, which operates over 6,000 locations in the United States, announced it will offer up to 40 cents off per gallon as part of its national event 'Circle K Fuel Day.' Customers will need to plan when to fill up: the discount will only be available this Thursday, May 7, from 4 p.m. to 7 p.m. Members of the free loyalty program Inner Circle will have early access from 12:01 a.m. to 3 p.m. by entering the phone number linked to their account at the pump.
Business'A little bit of pain': Major construction coming to Gateway Bridge after 70 years
BROWNSVILLE, Texas (ValleyCentral) — For the first time in more than 70 years, the Gateway International Bridge is set to undergo a major transformation. Federal officials broke ground Wednesday morning on a $300 million modernization project aimed at improving security and easing cross-border traffic at one of the busiest ports of entry along the U.S.-Mexico border. Officials
BusinessBlackRock Expands Workforce Investment in Texas to Strengthen Skilled Trades Pipeline
BlackRock has announced a $30 million investment in Texas through its Future Builders initiative, aimed at enhancing skilled trades education. This initiative is expected to provide electrical training for over 12,000 Texans. The announcement was made at Texas State Technical College in Waco, with Texas Governor Greg Abbott and Texas Workforce Commission Chairman Joe Esparza in attendance. The Texas Association of Business emphasized the importance of aligning workforce training with employer needs and called for policy reforms to modernize credentialing processes. This investment is seen as crucial for meeting industry demands and supporting Texas' economic growth.
BusinessTexas Outpaces All States with Record Job Gains
Texas Governor Greg Abbott announced that the state led the nation in job growth with an addition of 46,800 nonfarm jobs in March, according to the U.S. Bureau of Labor Statistics. This brings Texas to a total of 14,403,500 jobs, marking a significant milestone. Over the past year, the state gained 117,200 jobs, surpassing the national growth rate. The Texas labor force now stands at 15,916,600, including 15,236,600 employed Texans. Since January 2015, Texas has added nearly 2.6 million jobs. Abbott also celebrated Texas receiving the 2026 Prosperity Cup for its business investment performance.
BusinessPort of Harlingen calls for rail and corridor upgrades to support Valley trade
During the RGV Connect panel, Walker Smith, CEO of the Port of Harlingen, emphasized the port's significant role in the Rio Grande Valley economy and called for enhanced rail and corridor connections. He highlighted the port's operations, which include handling refined fuels, fertilizers, and agricultural products, noting that 85% of its cargo is fuel. Smith stressed the need for improved infrastructure, particularly for rail, as the port currently has limited rail access. He mentioned ongoing investments of $10 million for upgrades and a planned $30 million rail expansion, underscoring the importance of coordinated regional advocacy for these developments.
Business'We didn’t know about these grants': Programs fuel Harlingen business growth
HARLINGEN, Texas (ValleyCentral) — Local businesses in Harlingen are getting a boost just in time for Small Business Week—and ahead of Mother’s Day shopping—thanks to community support and city-backed programs designed to help them grow and succeed. For business owner Kelly Cabrera, that support has made all the difference. What started as a small online operation
BusinessBalancing Economic Uncertainty with Steady Job Growth
Despite ongoing economic uncertainty, the job market in the U.S. has shown signs of stability. According to the latest data from the U.S. Bureau of Labor Statistics, the unemployment rate remained at 4.3% in March, with 7.2 million people unemployed. However, there are troubling signs, such as a rise in long-term unemployment and an increase in individuals wanting jobs but not actively seeking them. Monthly job numbers fluctuated significantly, with an increase of 178,000 jobs in March following a decrease in February. While healthcare jobs are growing, other sectors like transportation and finance are struggling.
BusinessSome iPhone Owners May Receive Payments After Apple's $250 Million Settlement
Apple has reached a $250 million settlement in a class-action lawsuit regarding misleading advertising about the AI capabilities of its Siri virtual assistant. iPhone owners may receive cash payments of up to $95 after purchasing devices between June 10, 2024, and March 29, 2025, including the iPhone 16 and iPhone 15 Pro models. The lawsuit claimed that Apple misled consumers about features that were not yet available, prompting them to buy the devices. Customers will be notified by email or mail on how to file a claim. Apple continues to develop its AI features amid competition from other tech giants.
BusinessDelta Eliminates Food and Beverage Service on Short Flights
Delta Air Lines will eliminate food and beverage service on short flights under 350 miles starting May 19. This change affects approximately 9% of Delta's daily flights, which total up to 5,500, including connections. Passengers on these shorter routes, such as JFK to Boston, will no longer receive snacks or drinks, although Delta First customers will continue to enjoy full service. Delta assures that crew members will remain available to assist customers even on flights without food service. Longer flights of 350 miles or more will still offer complimentary snacks and beverages, with expanded service on many routes.
BusinessTed Turner, founder of CNN and pioneer of 24-hour news, dies
American businessman Ted Turner, founder of CNN, passed away on Wednesday at the age of 87, the network reported. Born in 1938 in Cincinnati, Turner revolutionized the global news landscape with the launch of the first 24-hour news channel in 1980. He also built an influential media empire that included networks like TBS and TNT, establishing CNN as an international news reference.
BusinessGasoline costs 50 % more in the US than it did before the Iran war
Gasoline prices in the U.S. have surged by 50% since the onset of the Iran war, reaching an average of $4.48 per gallon after a recent increase of 31 cents. The global energy crisis, primarily due to the closure of the Strait of Hormuz, has led to significant disruptions in oil supply, pushing crude oil prices to around $112 per barrel. Experts indicate that ongoing geopolitical tensions and reduced oil availability will continue to exert upward pressure on gasoline prices. Even with potential resolutions, it may take months for prices to stabilize to pre-war levels.
BusinessWeslaco Chamber hosts workshops, networking events for National Small Business Week
WESLACO, Texas (ValleyCentral) — The Weslaco Area Chamber of Commerce is recognizing National Small Business Week, a time dedicated to businesses that uplift communities across the U.S. In honor of the dedicated week, the Weslaco Chamber is hosting community workshops and networking events. "We have a variety of activities that we're doing all week long
BusinessNew refreshers on the menu: How much caffeine does it contain?
HARLINGEN, Texas (ValleyCentral) — As the weather gets hot, fast-food chains are hopping on the trend of adding refreshing beverages to their menus to cool you down. McDonald's recently added three refreshers to its menu in May, including mango pineapple with strawberry boba, strawberry watermelon, and blackberry passion fruit with freeze-dried dragon fruit. The fruit-flavored beverages
BusinessGovernor Celebrates Opening Of 460 MW Power Plant In Central Texas
Governor Greg Abbott celebrated the opening of the Constellation Pin Oak peaking power plant in Fairfield, Texas, which adds 460 megawatts of electricity to the state's grid. This facility is the first project funded by the Texas Energy Fund to come online, aimed at providing reliable power during peak demand periods. Abbott emphasized Texas's leadership in electrical generation and thanked Constellation Energy for its investment. The plant is designed to quickly supply electricity when demand is highest, contributing to the state's energy needs and reinforcing grid reliability, which has seen over 61,000 megawatts added in the last five years.