COSTEP awards grant to Texas Economic Development Corporation
March 30, 2023
With competitive advantages and constant development offered by the Rio South Texas Region for industries worldwide, COSTEP, Council for the South Texas Economic Progress (COSTEP) has approved a grant award to the Texas Economic Development Corporation (TxEDC) for $450,000 that will be disbursed in the next three years.
The state of Texas currently rates as the top state in expansion, corporate locations, and exports. In 2022, Texas was declared the “Best State for Business,” a recognition reinforced by the US Census Office.
COSTEP is an organization that promotes economic development, industry recruitment, and workforce development in the Rio South Texas Region. This prosperous economic region includes seven counties: Cameron, Hidalgo, Jim Hogg, Starr, Webb, Willacy, and Zapata, and ten municipalities in Tamaulipas, Mexico: Nuevo Laredo, Miguel Alemán, Mier, Camargo, Guerrero, Díaz Ordáz, Reynosa, Río Bravo, Valle Hermoso, and Matamoros.
Adam Gonzalez, Senior Vice President of Sponsor and Program Development, for COSTEP, stated that these economic grants would be $250,000 in the first year and $100,000 each for the following two years.
The Texas Economic Development Corporation is working arduously for Texas to maintain its economic leadership position in conjunction with Governor Greg Abbott’s Office of Economic Development and Tourism, a solid alliance focused on promoting economic development in a constantly growing state.
Rio South Texas is a very cost-competitive region for international trade. The region’s advantages include its geographic location with sixteen (16) international bridges with Mexico, seven (7) international airports, and five (5) seaports. The Port of Brownsville, one of the seaports, is the only deep-water US border port that allows merchandise movement without formal customs entry.
Rio South Texas has seen growth in the past few years in Laredo, Brownsville, Harlingen, Pharr, McAllen, Edinburg, and Mission, examples of a positive perspective that TxEDC will enhance through their investment program and attraction of new industries, an efficient duo for the expansion and consolidation of venture projects.
COSTEP’s support of TxEDC will significantly benefit the Rio South Texas region by bringing awareness of its assets to attract worldwide investment and provide them with a strategic zone that offers global competitive logistic management facilities.
From left to right:
Adam Gonzalez – COSTEP Senior Vice President of Sponsor & Program Development
Whit Jones - COSTEP Board Vice Chair
Mari Mann-Silva – COSTEP Interim Chief Executive Officer
Christin Evans - Texas Economic Development Corporation, Vice President of External Affairs
Jim Darling – COSTEP Board Chair
Danny Vela – COSTEP Board Member
James Moore – COSTEP Board Member