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NEWS
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 Michelin will build new plant in Queretaro
Queretaro, Mexico - In order to meet the growing demand of products with Michelin Retread Technology (MRT), the Company announced the construction of a new plant in Mexico, adjoining Michelin Mexico headquarters and Cars and Trucks Tires Plant, in Queretaro.
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Clariond anticipates private investment in Pemex
Mexico - Fernando Canales Clariond, Minister of Energy, said that after the election on July 2nd, Mexico could consider an amendment to the Constitution allowing a larger participation by private companies in the energy sector in Mexico.
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Honda will build sixth plant in North America
Tokyo, Japan - Honda, the Japanese automobiles assembler, will build its sixth plant in North America in 2007 to increase production in said region by 150,000 units per year, the Japanese press informed today.
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Together for the Region's impulse
Chihuahua - A group of 40 important businessmen and investors from Chihuahua, Texas and New Mexico stated their commitment to jointly promote the Region in the world, envisaging a unique potential for business development.
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Eastprint will open plant in Juarez
Ciudad Juarez, Chihuahua - Asociación de Maquiladoras Asociación Civil (AMAC) announced the Eastprint Mexico will soon open a plant in Intermex Industrial Park, that will initially generate 200 new jobs.
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Ministry of the Economy confident to have the fiscal reform approved in 2006
The Mexican Ministry of the Economy, Sergio Garcia de Alba, said he is confident that before President Fox's administration is over the fiscal reform proposed by the Executive Power will be approved.
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Finsa II repeats success formula
Monterrey, Mexico - Finsa II started investment projects in nine Mexican cities to build industrial parks, one of them in Guadalupe Municipality, State of Nuevo Leon. This is part of a US$100 million capital investment plan in 3 years.
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ARTICLE OF THE WEEK
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| Dynamic Growth in the Rio Grande Valley - Part 1 |
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 Its proximity to Mexico and fast-growing, binational job market are major factors in the Rio Grande Valley's economy. They're a large part of the reason employment has increased at a faster, steadier pace in the Valley than in the United States, Mexico or Texas as a whole (Chart 1).
Despite rapid job creation, the Valley remains relatively poor. The McAllen-Edinburg-Mission metropolitan statistical area ranks last among the nation's 361 MSAs, with a per capita income of $15,184 a year, less than half the national average of $31,472. The Brownsville-Harlingen MSA comes in next to last at $16,308.
The combination of rapid job growth and low income is unusual. In a study covering 1967 to 1997, Dallas Fed economist Keith Phillips found weak employment gains in other states' low-income counties-annual averages of 2 percent in Kentucky, 0.4 percent in West Virginia and 0.3 percent in Mississippi. Valley employment, by contrast, rose 3.4 percent a year over the three decades.
More recent data confirm that the Valley is creating jobs at an above-average rate, a trend that dates back to at least 1969. The McAllen MSA posted the strongest gains of all the Texas-Mexico border metros from 1997 to 2003, with employment growing an average 4.6 percent. Brownsville's 3.1 percent job growth was nearly twice as fast as Texas' 1.6 percent. National job creation over this period was 1.2 percent.
 The years of strong job growth have whittled away at the Valley's once-high unemployment rate. McAllen's jobless rate fell from 25.1 percent in April 1990 to 6.6 percent in December 2005. Brownsville's dropped from 16.1 percent in April 1991 to 6.1 percent in December 2005.
These trends raise several questions. What sectors have contributed to the Valley's rapid job growth? How does Mexico shape the Valley's economy? Will the stripping away of trade barriers in Central America and the Dominican Republic mean new competition or new opportunities? Can the Valley continue to create jobs? Can it begin to close the income gap?
Economic Drivers
The Rio Grande Valley abuts the Gulf of Mexico at Texas' southern tip and stretches roughly 100 miles along the river that separates the United States from Mexico (see map). The region encompasses Cameron, Hidalgo, Starr and Willacy counties, which had a combined population of nearly 1.1 million in 2005.
 In terms of earnings, two sectors account for nearly half the area's economic activity. The largest contributor to income is government, which includes local, state and federal workers as well as public school and university employees (Chart 2). This sector accounted for more than a quarter of Valley earnings in 2004, well above the 18 percent state average.
The Valley's second-largest sector is health care and social assistance. At 20 percent of earnings, the 2004 share was two-thirds higher than the 12 percent of a decade earlier. Over the same period, health care's share of the national economy rose much more slowly, going from 9.5 percent to 10.8 percent. The state is slightly below the U.S. average at 10 percent.
Retail trade earnings made up almost 10 percent of the Valley economy in 2004, just about matching the state average. Mexican nationals cross the border to shop year-round. Tourist traffic includes Winter Texans, mostly retirees from the Midwest and Canada who spend several months in the Valley, attracted by warm weather and low living costs.
Click Here for See More
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MEXICO'S WEEKLY HEADLINES
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| » Software Center will be opened in Jalisco |
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| » Kenworth Mexicana invests US$78 million |
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| » Unions of the automotive sector of six countries announce front in Mexico |
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| » Alpha will invest US$50 million in a new plant in the US |
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| » Mexican economy will continue growing: The Conference Board |
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EVENTS
2006
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MAY
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23 - 25 May.
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