Aug 3 2007
Construction of America's newest international crossing, the Anzalduas International Bridge, has begun. Opening in 2009, it will connect the U.S. with Mexico and is expected to push more developers to the already booming area of Mission, Texas.
Mission is located in one of the fastest growing metro areas in the nation -- a place of exploding population growth and where shoppers spend at a rate that's twice the national average.
Weingarten Realty Investors, one of the many developers expanding to Mission, has begun construction of three new retail developments anchored by major companies like Target, HEB Grocery, Petco, T.J. Maxx and more. Sharyland Towne Crossing and Market at Sharyland Place, to be completed in 2007 and North Sharyland Crossing in 2008, total more than 900,000 sq. ft.
"New projects are underway throughout the city, making Mission a very attractive destination to relocate,"said Pat Townsend, Jr. President/CEO of the Mission Economic Development Authority.
As the fourth fastest-growing market in the nation and the retail hub of the Rio Grande Valley of South Texas, Mission offers Weingarten tenants the benefits of a dynamic market on the U.S. side of the border, as well as access to the neighboring Mexican population bases of Reynosa and Monterrey.
Reynosa, a rapidly growing city of more than 750,000, is just across the border and minutes from the Weingarten developments. Monterrey, a city of approximately four million and one of the wealthiest in Mexico, is less than four hours away. Both cities provide a constant stream of shoppers into Mission, their nearest U.S. retail market. Mexican nationals are reported to spend three times more than the average American shopper, dramatically increasing retail sales in Mission each year. Winter Texans also reportedly bring in another $400 million to the economy.
Additionally, a very large, young, trainable labor force combined with extraordinary business opportunities are just a few of the reasons Mission/Reynosa has become the primary site for companies setting up operations on the U.S./Mexico border.
Since the implementation of NAFTA, nearly 100 Fortune 500 company operations have recognized Mission as the best location for their regional and corporate-support facilities. Mission provides these companies with close proximity to their principal manufacturing plants and new emerging markets in Mexico, Central and South America.
"Most companies strive for market leadership and profitability in a very dynamic environment," said Townsend. "Mission provides that location. Centrally located in one of the largest trading blocks in the U.S., Mission offers access to new markets and a globally competitive cost structure."
The Anzalduas Crossing will further solidify Mission as one of the best places in America to live and do business -- another example of Mission working with Texas borders to promote quality of life and business by building bridges rather than by fencing borders.