22 Dec Pharr Economic Development Corp: Trade Never Stops
Rio South Texas Region represents one of the most important trade zones along the U.S. Mexico border. Pharr’s International Bridge, just thirteen miles east of Reynosa, Mexico is a clear example of continuous flow of merchandise crossings; as evidenced by the forty-two billion dollars in goods reported for 2021 by Luis Bazán, Pharr’s International Bridge Director. Bazán is keen to point out how the bridge’s outstanding infrastructure has made it possible to entertain treaties with more than ninety countries.
The Pharr International Bridge connects with the city of Reynosa, Tamaulipas, where manufacturing companies are located that import and export daily through this port.
TRADE NEVER STOPS
Although the Covid-19 pandemic negatively impacted all sectors, in the case of commerce, it has not stopped, neither during nor after the pandemic.
About the value of the product that crosses through this port, Luis Bazán, released the following figures:
2019 36 billion dollars
2020 32 billion dollars
2021 42 billion dollars
As these statistics show, the future seems promising. Trade has withstood adversity, whether that be manifested by crisis in the supply chain, inflation, or other misfortunes, commented Bazán.
A REGION ATTRACTIVE FOR INVESTMENT
What makes the Rio South Texas Region attractive for investment? The answer lies in these key factors:
Location. Strategically located and with near proximity to Mexico. Nearshoring is generating the arrival of foreign companies and making it possible for suppliers to be close to manufacturers.
Road Infrastructure. A well-planned logistical corridor which connects the Pharr International Bridge with manufacturing facilities and roads leading to other states in Mexico, which neighbor Tamaulipas.
Trader Culture. Having Mexico as its neighbor brings the region the competitive advantage that clusters companies producing goods, which continuously allow for “just in time” product delivery.
PHARR INTERNATIONAL BRIDGE OVERVIEW
No. 1 land port in U.S. perishable goods crossings
No. 3 most important international bridge in Texas
The Pharr International Bridge will build a twin bridge on the US side and will have an investment of 47 million dollars. Although there is a 3.10 mile (five kilometers) long bridge with four lanes on both directions, an additional one will be built with the same infrastructure that will allow the three types of commerce to be separated: empty truck, certified and regular cargo.
Pharr Economic Development Corp
It is contemplated, on the US side, that the construction project at the international crossing be completed by 2024.
If you are interested in learning more details about the advantages offered by international crossings located in the Rio South Texas Region, and the Pharr Economic Development Corp, the team of experts at COSTEP is in the best position to help and advise you.