City of Edinburg sees upward trend in construction and sales tax allocation

City of Edinburg sees upward trend in construction and sales tax allocation
MGN ONLINE
News
Tuesday, February 18, 2014 - 12:39pm

Recent local and state reports show economic activity in Edinburg is thriving with an upward trend in building permit activity and a substantial increase in state sales tax allocation this month.

Edinburg saw the most significant increase in February sales tax distributions among large cities in the Rio Grande Valley with a 26.55 percent increase compared to the same time period last year. According to the latest Sales Tax Report from the Texas Comptroller, Edinburg’s share is $2.1 million in collected sales tax compared to $1.7 million last year.
Meanwhile, The City of Edinburg January Construction Report shows a 122 percent year-to-date increase in overall building permit activity. Last month, the City saw $14.6 million in activity compared to nearly $6.6 million in January 2013.

Mayor Richard H. Garcia says, “The ongoing projects, which include the creation of the University of Texas RGV and a new events arena, are a beacon attracting people to Edinburg. It is a recipe for progress when you combine that with the long-established friendly attitude of our citizens as well as City leadership focused on facilitating growth.”

Additionally, the City of Edinburg saw a significant increase in commercial alteration permit activity, from $119,250 in January 2013 to $2,633,447 during the last month.

New housing activity, including single family and multi-family structures, increased year-to-date by 18 percent from $2,615,430 in January 2013 to $3,092,000 this January.

New commercial construction permit activity during January 2014 was $2,554,415.

During the past decade Edinburg’s population has increased by an unprecedented 59 percent. Edinburg is the third largest City in the Rio Grande Valley with room to grow.

The Building Permit Report is prepared monthly by the City of Edinburg Code Enforcement Department. To read the entire State Comptroller Sales Tax Report visit http://www.window.state.tx.us/taxinfo/allocsum/citycnty.html.

 

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