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Edinburg, Texas Offers 50% Banking Incentives to Industrial Developers

By Viviana Cervantes

South Texas

January 29, 2024





In a bid to bolster economic development, Edinburg, Texas has announced a strengthened incentive program for industrial developers in 2024. The city is experiencing a significant demand for warehouses in the logistics sector, manufacturing spaces, and industrial parks, as stated by Raudel Garza, the Chief Executive Officer of the Edinburg Economic Development Corporation (EDC).

One of the highlighted incentives promoted is a 50% payment of banking interests during the construction process. Garza expressed, "Investors can find various competitive advantages in Edinburg. While constructing buildings or industrial parks, we can support them with a 50% reduction in the interests they accrue with the bank, along with continuous guidance."

State Incentives

In addition to the banking incentives, the city offers employment and educational scholarships, tax refund schemes, preferential land acquisition rates, state incentives, and customized training for investors.

Currently, Edinburg serves as a pivotal distribution and circulation point for various industries engaged in commercial processes between Mexico and the United States.

Lease or Sale Opportunities

Garza emphasized that industrial developers receive guarantees to have their commercial lots occupied, mostly before the project completion, through leases or sales. He stated, "The region where we are located is growing rapidly, and we need to find new spaces for industries. For instance, the logistics sector is demanding storage sites. We hope to trigger industrial projects in 2024 because clients exist and are eagerly awaiting the space."

North Industrial Development

Since late 2023, the Economic Development Corporation has announced the development of the North Industrial Park, a new industrial park located north of Edinburg. Currently, the park has various confirmed projects exceeding one million dollars, with investments from both industrial and commerce sectors. Garza added, "Companies have already acquired the lands and are in the construction phase. The available space in North Industrial Park is limited, approximately 20 hectares distributed across 5 lots, due to the high interest of investors in coming to Edinburg."

Moreover, Garza reiterated that business opportunities in Edinburg are diverse. In recent years, sectors such as logistics, auto parts, mechanics, agriculture, and food have thrived successfully.

For More Information:

About Edinburg Economic Development Corporation: Edinburg EDC is committed to fostering economic growth and development by providing incentives, support, and a conducive environment for businesses and investors in Edinburg, Texas. For more details, please visit www.cityofedinburg.com/edc.

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