Coastal Realty

The economic times are good - perhaps the best ever - for cities on the Texas-Mexico border. A boom in commerce between the U.S. and Mexico, combined with a rapidly expanding population, is transforming the region into one of the fastest growing sections of the country.

Brownsville is profiting from its position on the NAFTA frontier. For much of the 1990's, Brownsville has topped the rest of Texas and the nation in job creation. In fact, total employment in the MSA (metropolitan statistical area) surpassed the 100,000 mark for the first time ever in June 1998. The traditionally high unemployment rate, meanwhile, has steadily dropped, reaching 9.8% in March 1999, its' first dip below 10% in the 1990s.

The gains have been spread across several sectors. The service industry has been particularly hot, followed by the retail and construction sectors.

Matamoros, Tamaulipas is located on the southern bank of the Rio Grande, directly across from Brownsville, Texas. Matamoros is the largest city in the state of Tamaulipas with 450,000 persons. The presence of maquiladoras account for a rapidly growing population, as workers migrate from the interior to the border region.

Brownsville and Matamoros are related economically, historically and, culturally. Economic cooperation dates back to the American Civil War when the two cities served as an import area for vital Civil War supplies and as an export area for the South's cotton.

The cooperation continued through the years, as each city served the other needs. After 310 years, in 1996, they officially became "Sister Cities" with a colorful parade and festivities.

This vital economic link took even stronger hold through the emergence of maquiladoras in the 1960's. Matamoros was home to Mexico's first maquiladora. Today, over 100 foreign corporations have manufacturing operations in the city, most with manufacturing, warehousing and transportation support operations on the American side.

Tourism is an important part of the regional economy. Matamoros each year hosts thousands of visitors from within the country and abroad, who come here knowing they always find a happy smile and friendly hand welcoming them. Likewise, Brownsville ranks fifth in Texas for long and short-term stays. Vacationers are attracted by the subtropical climate and Brownsville's direct access to South Padre Island.

Mexico's fifteenth largest city, Matamoros has a population of over 450,000. The city has a long and rich cultural tradition. The refurbished Teatro de la Reforma, for example, plays hosts to an annual cultural festival in October that is regarded as one of Mexico's finest.

A good transportation network also links the region. The Port of Brownsville, widely regarded as Mexico's northernmost port, provides competitive transportation to the markets of Europe, Africa, Asia, and South America. Two international bridges and a rail crossing unite the border cities. The Los Tomates Bridge, the city's third, is now up and running.

Matamoros/Brownsville is well suited to companies that need operations on both sides of the border. Low production costs in Matamoros and the low cost of living in Brownsville, together with all the other advantages mentioned above, have made the area a prime site for production sharing.

In 1997 The Rio Grande Valley continued to thrive, experiencing advances in many economic arenas. At one time the Valley's economy was based exclusively upon two sectors, agriculture and retail trade. Today, the Rio Grande Valley is a highly diversified economy. It is an economy experiencing expansion in industry, manufacturing, and construction. It is an economy that is taking a new direction in tourism. It is an economy focused on the development of health and medical services, educational facilities and venues of transportation. Finally, it is an economy where growth and opportunity are two key words figuring into its future.

Today, the Rio Grande Valley is, most importantly, being noticed around the globe as a vital part of the Borderplex. It does not matter what terminology is used, Borderplex, International Metropolitan Trade Area, or in Mexico àè Conurbacion Binacional. Borderplex appropriately describes the two-nation area along the Rio Grande River with its dual economies, cultures and languages àè the very same region that expects to reach a population of 2.5 million by the year 2000. The region is made up of the four Valley counties and the northern Mexico border from Matamoros to Mier.

Advances in each of the Valley's economic sectors and continued growth in free trade point to a promising future for the region's economy in 1998. It is not the same economy it was 50 years ago, wholly dependent on agriculture. It is not same economy it was 20 years ago àè dependent upon agriculture and retail trade. Coming up rapidly on the year 2000, the Rio Grande Valley is part of a multi-faceted, diverse economy that is being noticed in the global marketplace àè the Borderplex.