Weslaco sees economic growth, 5 new commercial sites, new housing
WESLACO, Texas (ValleyCentral) — City officials in Weslaco are seeing rapid growth in the city’s economy.
Weslaco Economic Development Corporation (EDC) executive director Stephen Valdez said five commercial sites are being built simultaneously along Highway 83.
“Right now there are five different locations, this being the first one, and if you travel to 1015 you will see a total of five construction sites,” Valdez said.
Valdez pointed to a construction site for what will be a new Ojos Locos bar and restaurant. He added that the five sites are related to retail and catering.
The EDC works to attract new developers to the city, offering monetary incentives if eligible, Valdez explained.
“If there’s a need, offer them an incentive to come to Weslaco as part of our recruiting efforts,” Valdez said.
However, Valdez said there is not only business growth, but also residential growth that is increasing in the city.
“We’ve really seen a lot of growth and development, both in commercial property growth, industrial property growth, and residential growth,” Valdez said. “Right now we have between 15 and 16,000 lots that will be available for sale.”
City officials report steady growth in sales tax revenue, noting that:
- The 2018-2019 fiscal year recorded revenues of approximately $13,300,000
- The 2019-2020 fiscal year recorded revenues of approximately $13,700,000
- The 2020-2021 fiscal year recorded revenues of approximately $16,000,000
So far, this fiscal year has an STR of approximately $11,900,000 in revenue.
Valdez said he credits Weslaco’s location in the Rio Grande Valley as one of the reasons for the town’s growth.
“Being central in the valley is really what has driven Weslaco’s continued growth,” Valdez said.