Retail sales rise and jobless rate falls in 1st quarter
Texas Border Business
MISSION, Texas – More people than ever are working and shopping in Mission this year. The City of Mission unemployment rate fell to 8.2% in February marking the fourth straight year the jobless rate has dropped year-over-year in the month of February, according to the latest figures available from the Texas Workforce Commission.
And more people have jobs than ever before in the City as the Texas Workforce Commission (TWC) reported that in February 29,929 were employed in Mission. Those statistics show that Mission has grown by 727 new jobs since February 2013.
Meanwhile, another sign the City’s economy is improving, is Mission’s sales tax allocations. For 2014’s first quarter, sales tax allocations are up 4.2 percent over the same period last year, and are the highest to start a year since the state comptroller’s office began measuring decades ago.
“Mayor Salinas, the Commission, Mission EDC and the Chamber of Commerce are bullish on this City and they are doing everything they can to help us create more jobs and recruit more businesses here,” said Mission Economic Development Corporation CEO Alex Meade. “We had a great 2013, but we believe that if we keep working hard, the best is yet to come.”
Over the last few years, Mission leaders have worked closely with the Texas Department of Transportation to build new roads and widen intersections all around the City. Meade added that while new roads may not be solely responsible for growth, better traffic flow and less congestion makes good economic development sense.
The retail sales tax rate in Mission, similar to most cities in Texas, is 8.25 percent. Of that the state of Texas keeps 6.25 percent and the City gets 2 percent. For the first three months of 2014, Mission’s share totaled $3.9 million. According to the state comptroller, January generated $1.2 million, February $1.5 million and March $1.2 million. It’s the best ever three-month start to a year for Mission.
Regarding unemployment, in January Mission’s rate was 8.5 percent before it fell to 8.2 percent in February. From years prior, Mission has shown a marked improvement as well. In February 2010, the City’s unemployment rate was 9.9%, in Feb. 2011, 9.6%; Feb. 2012, 8.8%; and Feb. 2013, 8.6%. That’s four straight years of declining unemployment rates showing consistent post-recession recovery. Around the Rio Grande Valley, Mission’s overall jobless rates were lower than both Hidalgo and Cameron County and several other cities.
