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Report: Brownsville-Harlingen MSA named No. 1 Metro Location for 2024

The report, published by Area Development and compiled with data from Chmura Economics & Analytics, is titled: 2024’s Leading Metro Locations: U.S. Cities on the Rise Amid an Economic Reshuffling. The magazine says its study reveals shifting dynamics in America’s cities.

Elon Musk, founder of SpaceX. (Photo credit: Wikipedia)

BROWNSVILLE, Texas – Brownsville-Harlingen MSA has been named the No. 1 Metro in Area Development’s 2024 Leading Metro Locations Report.
Area Development gives most of the credit to SpaceX, both for investment in infrastructure and job creation. It describes Brownsville-Harlingen as “an emerging hotspot.”
The report, compiled with data from Chmura Economics & Analytics, is titled: 2024’s Leading Metro Locations: U.S. Cities on the Rise Amid an Economic Reshuffling. The magazine says its study reveals shifting dynamics in America’s cities.
“America’s metropolitan areas are resilient, and adaptable, but the economic power of the United States has been shifting to some new and surprising cities,” the report starts off.
The magazine says the report “provides an in-depth look at which cities are thriving, which regions are gaining ground, and what key factors are driving growth in today’s economic landscape.” It says the report is weighted to give special emphasis on factors like prime workforce availability, economic strength, and affordability.
“This year’s report offers helpful insights for corporate site selectors, businesses looking to expand, and economic development professionals nationwide,” Area Development states.
Brownsville-Harlingen Metropolitan Statistical Area
In its focus on the overall top metro performers, the report says there was steady growth but also some rising stars.
“Unsurprisingly, some of the most familiar cities remain at the top of the list, but the 2024 rankings also reveal several emerging hotspots that are gaining ground in the ever-competitive world of economic development.
“Leading the overall rankings, Brownsville-Harlingen, TX, takes the top spot, reflecting the growing economic significance of the Southwest, particularly thanks to the SpaceX effect. The company’s operations in nearby Boca Chica have transformed Brownsville into a high-tech manufacturing hub, with SpaceX investing more than $3 billion in infrastructure and driving job growth across the region.
“With over 21,000 indirect jobs supported and a growing focus on advanced manufacturing, Brownsville exemplifies how strategic investments in key industries can propel smaller metros to national prominence.”
Patrick Clapp, a senior economist at Chmura Economics, provides specific commentary on the impact of SpaceX.
“The number of SpaceX jobs has helped Brownsville stand out in the research—job ads are a leading indicator of future employment, and SpaceX accounts for more than 12% of total job STEM job ads in the metro area,” Clapp said.
Clapp points out that the Starbase complex in Boca Chica, the sole private facility for SpaceX, is focused on commercial launches. “The additional regional spending from high-wage jobs generates ripple impacts that support additional growth in the area,” Clapp adds.
Methodology Area Development used for its 2024’s Leading Metro Locations
Area Development ranked 410 MSAs and metropolitan divisions across 24 economic and workforce indicators pulled from eight (8) data sets — each set containing a five-year change, a three-year change, and a one-year change indicator — originating from the U.S. Bureau of Labor Statistics, U.S. Census, and JobsEQ® by Chmura Economics & Analytics.
Each metro area earned a ranking within each of the 24 indicators based on its statistical performance within that indicator. The metro area with the best performance in a certain indicator earned a ranking score of “1” and the metro area with the worst performance earned a ranking score of “410.”
To calculate “Overall Ranking,” we created a score of total ranking across all indicators for each MSA. The indicators were weighted with five-year change indicators carrying the most weight and the one-year indicators carrying the least weight.
We also calculated overall ranking across two categories: “Prime Workforce” and “Economic Strength.” Within the “Prime Workforce” category we calculated rankings within two sub-categories: “Workforce Readiness” and “Wage and Salary Growth.” Within the “Economic Strength” category we calculated rankings within two sub-categories: “Core Economic Indicators” and “Job Growth Indicators.” To calculate the overall ranking within these two categories, and four sub-categories, we produced a score and average ranking across only certain indicators.
We have also produced a set of lists, using overall ranking, grouping the MSAs by each of the 9 U.S. regions and by size: “Small” (population < 160,000), “Mid-sized” (population 160,000-600,000), and “Big/Giant” (population > 600,000).

Credit: https://riograndeguardian.com/

New EB-5 program opens in the Rio Grande Valley

Open EB5’s first project is already up and running. Midtown Pharr is a 168-unit multifamily development. Developers say the project emphasizes sustainable growth and meaningful community impact.
MCALLEN, Texas – A new EB-5 company has launched in the Rio Grande Valley to help immigrants become permanent residents of the United States through investments in commercial business.
The company, formed by businessmen Emilio Guzmán and Ricardo Rubiano, is called Open EB5.
The group’s mission statement is: “To develop transformative real estate projects that redefine communities, drive sustainable economic growth, and create lasting value. We provide global investors with a secure pathway to U.S. permanent residency, while fostering local job creation and cultivating vibrant, thriving neighborhoods in the Rio Grande Valley.”
EB-5 is the federal government backed Employment Based Fifth Preference Immigrant Investor Visa program. It allows immigrants to become permanent residents of the United States by investing in a commercial business. The program is administered by the U.S. Citizenship and Immigration Services.
“In Texas, where economic dynamism meets cultural richness, Open EB5 emerges as a transformative force, connecting global investors to impactful real estate ventures. By aligning strategic investments with pathways to U.S. permanent residency, Open EB5 delivers unparalleled value—not just for investors but for the communities these projects empower,” a press release from Open EB5 states.
In an exclusive interview with the Rio Grande Guardian International News Service, Guzmán said Open EB5 has positioned itself as a trusted partner for investors seeking both financial growth and immigration benefits through the U.S. government-backed EB5 program.
Guzmán listed the key benefits. They are:

* Permanent Residency for Families: Includes the investor, spouse, and unmarried children under 21.
  • Flexibility and Freedom: Live, work, and study anywhere in the U.S.
  • Financial Peace of Mind: Diversify portfolios in a stable, dollar-based economy.
  • A Pathway to Citizenship: Become eligible for U.S. citizenship after five years of permanent residency.
Guzmán holds a degree in international relations and has earned an executive certificate from Harvard Business School in Real Estate Capital, Partnerships, and Portfolios. Asked about his experience, Guzmán said he has facilitated the creation of thousands of new jobs, combined efforts to raised more than $300 million from global investors, and contributed to projects valued at over $900 million. He said that with investors from 20 countries, he has ensured seamless access to transformative opportunities, guiding clients through every phase of the process.
“Our mission goes beyond securing investments; it’s about building trust with our clients. At Open EB5, we are committed to guiding every investor with clarity, transparency, and a personal touch,” Guzmán said.
For his part, Rubiano said investors can rely on Open EB5’s robust, end-to-end support system—from personalized consultations to securing a green card. He said the company’s current project, Midtown Pharr, exemplifies its mission. A 168-unit multifamily development, the project emphasizes sustainable growth and meaningful community impact, Rubiano explained.
Born and raised in Texas, Rubiano has spent over two decades shaping the real estate landscape of the Rio Grande Valley. He said his portfolio spans multifamily complexes, retail spaces, and large-scale projects that redefine communities. He said he is known for meticulous planning and innovative designs with developments consistently delivering quality and value.
“The Rio Grande Valley represents endless potential, and I’m excited to contribute to its growth through projects that not only generate jobs but also redefine what thriving neighborhoods can look like,” Rubiano told the Guardian.
Rubiano added that his expertise lies in navigating real estate challenges during economic shifts, ensuring resilient, high-impact outcomes for both investors and residents. He said his mission is: “Building a better Valley.”
Rubiano added: “Open EB5 doesn’t just facilitate investments; it transforms them into tools for change—securing brighter futures for families while revitalizing local economies. Through transparent processes, strategic guidance, and a proven track record of excellence, Open EB5 is redefining what it means to invest with purpose.”

BBVA Mexico Opens Nearshoring Office in Houston to Boost Investments

BBVA Mexico has established a specialized nearshoring office in Houston, Texas, focused on attracting 65 investor companies during its first year of operations. This new strategic headquarters for Corporate and Government Banking is located in an industrial hub that integrates key sectors such as aerospace, manufacturing, energy, biotechnology, digital technology, logistics, and transportation.

The office provides comprehensive services including investment advisory, financial instruments, and connections to the bank’s supply network. With a current base of approximately one million corporate clients in Mexico, BBVA strengthens its position in the North American market through this strategic expansion.

Texas Intensifies Foreign Investment Attraction Strategy with Border Focus

The Texas government, led by Gregg Abbott, is implementing an intensive strategy to capture millionaire foreign investments. The state, whose economy surpasses those of Italy and Brazil, leverages its business-friendly policies, particularly in a context of regulatory changes in Mexico in areas such as energy and legal framework.

Abbott has held meetings in Austin with business leaders from the Mexican border region. During these meetings, he presented the Special Economic Zone project adjacent to Tamaulipas. This initiative contemplates tax benefits, competitive labor costs lower than the U.S. average, temporary work permits for Mexican citizens, plus three distinctive elements: security guarantees, legal certainty, and energy stability.

The Texas administration is also attracting Mexican companies with significant operations in the United States, presenting them with more advantageous conditions than those available in Mexico. This strategy has strengthened in view of the prospects of changes in business policies of the next Mexican government, while the current Mexican federal administration maintains a less focused stance on nearshoring competition.

“Our mission goes beyond securing investments; it’s about building trust with our clients. At Open EB5, we are committed to guiding every investor with clarity, transparency, and a personal touch,” Guzmán said.

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