Category: News

The Pharr Economic Development Corporation (EDC) has taken a bold step in enhancing binational trade and investment by partnering with the Mexican Business Council for Foreign Trade, Investment, and Technology (COMCE).

This strategic alliance was formalized through a Memorandum of Understanding (MOU), underscoring both organizations’ commitment to promoting cross-border economic growth, with a particular focus on leveraging the Pharr International Bridge—a key commercial artery connecting Mexico and the United States.

Through the signing of a Memorandum of Understanding (MOU), both organizations committed themselves to leveraging the Pharr International Bridge as a pivotal commercial artery, driving economic growth and diversification in the region.

The MOU aims to deepen economic collaboration by facilitating trade and investment activities that benefit the economies of both countries. With COMCE’s established expertise in supporting Mexican businesses’ international trade ventures, this partnership is positioned to create new business opportunities, diversify economic resources, and drive substantial growth for businesses in Pharr and the broader Rio Grande Valley region.

COMCE, known for its dedication to promoting international trade and investment for Mexican businesses, plays a crucial role in facilitating economic relations. This partnership marks a significant step towards strengthening economic ties, creating new opportunities for businesses, and empowering economic growth in Pharr.

The Pharr Economic Development Corporation (Pharr EDC) has reached a huge milestone by signing a Memorandum of Understanding (MOU) with the American Chamber of Commerce of Mexico, Northeast Chapter (AmCham Northeast Chapter). This agreement, formalized by Victor Perez, president and CEO of Pharr EDC, Lorenzo Barrera Segovia, president of the AmCham Northeast Chapter, and Grace Lingo, executive director of the AmCham Northeast Chapter, marks a commitment to mutual growth and cooperation between the City of Pharr and AmCham’s 1,400 member companies.

The MOU aims to build stronger economic ties between the Northeastern Mexico region and Pharr, Texas. Although the agreement is not legally binding, it is designed to create deeper understanding and cooperation, enabling the exchange of knowledge, expertise, and resources across the border.

Victor Perez expressed enthusiasm about the partnership, stating, “The signing of this agreement marks the beginning of a new chapter in our relationship with AmCham.” He emphasized that the collaboration will create new job opportunities and strengthen the regional economy.

The involvement of AmCham, which represents influential players in Mexico’s economy, means that this strategic partnership will have far-reaching implications. It allows AmCham members to participate in business opportunities in Pharr while providing local businesses access to new markets in Mexico. The partnership positions Pharr as an attractive hub for international investment, aligning with initiatives like the Pharr Global Business Hub, which offers AmCham companies office space and resources to expand their operations.

This agreement also enhances Pharr’s reputation as a focal point for cross-border business relations, creating a reciprocal flow of investment and innovation that benefits both economies. By attracting international investment and providing local businesses the opportunity to enter the U.S. market, the partnership strengthens international value chains and introduces advanced technology and practices to the region.

The MOU will also facilitate joint events, conferences, and forums, allowing business leaders from both Mexico and the U.S. to engage directly with political, educational, and industry figures. These interactions are expected to yield a valuable exchange of ideas, shaping the future business environment in both regions.

In addition to promoting economic growth, the agreement emphasizes workforce development through training and advisory programs designed to improve skills and competitiveness. By sharing best practices and innovations, the partnership will ultimately enhance productivity and sustainability for businesses operating in both the U.S. and Mexican markets.

Overall, this MOU establishes a solid foundation for ongoing collaboration between the American Chamber of Commerce of Mexico and the Pharr EDC.

Pharr EDC announces nearly 11 million square feet of new industrial parks, highlighting city growth and international business opportunities.

At a recent South Texas Manufacturers Association meeting at the DoubleTree Suites by Hilton in McAllen, Janie Cavazos, vice president of business recruitment for the Pharr Economic Development Corporation (EDC), revealed plans for ten new industrial parks.

These parks will add almost 11 million square feet of warehouse space, including cold storage and dry warehouses. Six parks will be within Pharr’s city limits, while the remaining will be in its extraterritorial jurisdiction (ETJ).

Pharr EDC, along with the Pharr Bridge Board, will officially announce the details at the next Warehouse Summit in October. This effort continues to position Pharr as a critical hub for international trade and development.

Pharr EDC has recently entered into a partnership with the American Chamber of Commerce of Northeast Mexico (AMCHAM Noreste) by signing a Memorandum of Understanding (MOU) aimed at enhancing trade and investment opportunities between the U.S. and Mexico.

The MOU now allows all members of AmCham (representing more than 1,400 companies) to use the new Pharr Global Business Hub to promote technology, cooperation, and investment across the border.

This collaboration was formalized during the “Future of Trade in the Rio Grande Valley” event held in McAllen, Texas, on September 10, where both organizations expressed their commitment to fostering economic growth in the region​.

The MOU outlines a framework for cooperation in areas such as trade facilitation, investment promotion, and the development of business networks. The agreement is expected to support initiatives that encourage U.S. companies to explore the Mexican market while helping Mexican businesses to navigate the U.S. economic landscape.

This partnership aligns with ongoing efforts in Pharr to capitalize on logistics and nearshoring opportunities, particularly as the region continues to see growth in manufacturing and trade activities. Pharr’s strategic location near the U.S.-Mexico border makes it an ideal hub for these initiatives, further supported by events like the Industrial Warehouse Summit which recently highlighted opportunities in logistics and industrial development​.

The AEM-COMCE tour, organized by Francisco J. Peña-Valdés, brought more than 45 Mexican business owners to the Rio Grande Valley (RGV) to explore trade and investment opportunities.

The tour, which featured stops in McAllen, Pharr, and Brownsville, aimed to connect Mexican entrepreneurs with local leaders and businesses to foster collaboration.

Peña-Valdés emphasized the importance of making this an annual event to sustain momentum and build trust.

The Pharr Economic Development Corporation (EDC) played a pivotal role during the tour. Pharr EDC President Victor Perez, Economic Business Development Director Lilvette Santos, and other city officials welcomed the Mexican delegation at the Pharr One Center, where presentations and panel discussions on real estate, business opportunities, and economic growth were held.

The delegation also toured Pharr’s new Global Business Hub and discussed potential cross-border collaborations. Peña-Valdés highlighted the trust between AEM, COMCE Sur, and RGV leaders as a key element for future success.

The Pharr Border Business Advancement Initiative, supported by Victor Perez and the Pharr Economic Development Corporation (EDC), recently hosted a mixer at Topgolf to stimulate growth in the manufacturing sector. The event aimed to foster networking and collaboration among industry professionals, business leaders, and community members.

Key Highlights from the Mixer:

• Networking Opportunities: The event provided a platform for attendees to connect with peers and potential partners in the manufacturing industry.
• Focus on Manufacturing Growth: The mixer addressed the needs and opportunities within the manufacturing sector in Pharr and the surrounding areas.
• Engagement with Local Businesses: Local manufacturers and stakeholders discussed industry trends, challenges, and strategies for growth.
• Support from Pharr EDC: Victor Perez, Executive Director of the Pharr EDC, and his team played a key role in organizing the event, demonstrating their commitment to supporting and expanding the manufacturing sector in the region.

The Topgolf mixer highlights the Pharr Border Business Advancement Initiative’s and the Pharr EDC’s dedication to fostering manufacturing growth through strategic networking and community engagement.