Texas Border Business
BROWNSVILLE, Texas – The Greater Brownsville Incentives Corporation (GBIC) and BrownsvilleCommunity Improvement Corporation (BCIC) have agreed to provide more than $500,000 for job creation and equipment, over five years, to First National Bank Texas (FNBT) new VirtualBanking Center. This new Virtual Banking Center will create an estimated 113 jobs, with 86 new hires in the first year, to service over 1,000,000 customers across Texas, New Mexico, Arizona, and Arkansas. FNBT will invest approximately $3.25M over five years in its new location at North Towne Plaza in Brownsville.
“As GBIC Chairman, I am happy to see another national Texas-based company invest in the City of Brownsville, creating well-paying jobs with benefits that build up the base of our community,” said JohnCowen, GBIC Chairman. “FNBT’s capital investment will bring additional sales and property tax dollars, allowing the City of Brownsville to continue investing in new infrastructure and quality projects to move theeconomic development needle of our City forward. This project serves as a stepping-stone in establishing Brownsville as a new hub for financial services.”
“The BCIC Board of Directors is proud to support businesses that want to create new opportunities for the citizens of Brownsville,” said Jill Dominguez, Chair of the Board for BCIC. “One of our key priorities is toleverage our unique set of grant programs, such as our Economic Impact Grant, to support newenterprises and invest in projects that directly impact job creation while also stimulating strategicdevelopment in Brownsville. We are proud to say that this project does both.”
GBIC awarded FNBT a Job Creation Grant of up to $339,000 and a job training fund of $56,500 for creating 113 new full-time positions with a $15 per-hour average rate, including managerial positions withsalaries ranging from $40,000 to $70,000 per year. FNBT’s Virtual Banking Center will support the needs of over one million customers through phone, chat, and other electronic communication channels.
“We are excited to have FNBT expanding its footprint in Brownsville and establishing its first RGV VirtualBanking Center here. FNBT’s operations will help meet the changing needs of their customers while also building new digital capabilities designed to provide meaningful experiences and serve essential needs in both English and Spanish,” said Constanza Miner, GBIC Interim Executive Director and CEO. “We thank First National Bank Texas for their commitment to Brownsville, and our community partner, the Brownsville Community Improvement Corporation (BCIC), for collaborating on this project. There isnothing we can’t do when we work together to promote economic opportunity in our City and bring joboptions for our residents.”
FNBT has received an Economic Impact Grant of $220,000 from BCIC for its estimated capital investment to be completed by the end of 2026. These funds will be used towards $1.24M in building improvements, $400K in furniture/fixtures, $493K in phone and computer equipment,
$902K in IT infrastructure and licensing fees, and $220K in machinery and equipment.
“This project is a perfect example of how competitive and collaborative Brownsville is when our City Economic Development Organizations come together to assist,” said Cori Pena, President and CEO of theBCIC. “This project creates over 100 jobs, spurs development in an underutilized area, and has a residualeconomic impact on the surrounding businesses. With all organizations working together, we can continueto make Brownsville one of the most competitive communities in the region,”
The new Virtual Banking Center will become a functional all customer interactions and touchpointsdivision to the company’s $4 billion assets nationwide. FBNT is projected to be fully operational by 2028.
“First National Bank Texas has been part of the Brownsville community for over a decade, and we lookforward to expanding our operations here in the coming months,” said Jessica Pelache, FNBT’s Executive Vice President & Director of Customer Experience. “We would like to thank the Greater Brownsville Incentives Corporation (GBIC) and the Brownsville Community Improvement Corporation (BCIC) for their support and partnership, and we look forward to a long and successful relationship.”
About Greater Brownsville Incentives Corporation (GBIC) & Brownsville Community Improvement Corporation(BCIC)
Both GBIC Type A and BCIC Type B EDCs seek to actively promote an economic frontier supported by a multi-modal transportation system: rail, sea, air, land, and Space, with the presence of SpaceX.
They facilitate economic growth by promoting investment and working with regional and international partners in job creation, training, innovation, business enterprise, community development, and manufacturing. They are non-profit organizations created to oversee the disbursement of a ¼ cent each of sales tax.
