Edinburg’s retail economy from January through May 2015 was 6.19 percent
better than the same period last year, generating $11,748,113.94 in local sales
taxes, compared with $11,062,277.87 from January through May 2014, according
to the Edinburg Economic Development Corporation.
This latest showing is the second-best – in terms of the rate of improvement –
among all of the Valley’s major cities for the first five months of 2015, based on
the findings of the Texas Comptroller of Public Accounts, which on Wednesday,
July 8, released statewide figures, which represent the most up-to-date data
information by that state agency. Among its many duties, the Texas Comptroller’s
office is the state’s chief tax collector, accountant, revenue estimator and treasurer.
For the month of May 2015, the Edinburg retail economy generated $1,561,948.68
in local sales taxes, up 2.88 percent over the May 2014 showing of $1,518,208.18.
Mayor Richard García (no relation to Gus García, Jr.), who is President of the EEDC
Board of Directors, explained that the amount of local sales staxes collected helps
reflect the strength of an economy, along with construction activities, per capita
income, education, historical performances, and related trends.
Edinburg retail economy from January through May 2015
up more than six percent over same period last year,
according to Texas comptroller
July 31, 2015