Sorry, you need to enable JavaScript to visit this website.
Pharr Poised for USMCA Economic Boom

Pharr Poised for USMCA Economic Boom

Top international and congressional leaders have been working on revising the North American Free Trade Agreement (NAFTA) for over two years now amid negotiations and just last week, we learned that the U. S. Senate finally approved the new measure known as the United States Mexico Canada Agreement (USMCA), sending it to the President, whom is expected to sign it into law within the coming months. The USMCA is a free trade agreement with Canada and Mexico that proposes to bring wages, worker protections, and supply chains into the 21st century by replacing and effectively updating the 25-year-old North American Free Trade Agreement (NAFTA), making it work for today’s modern economy. According to a study by the U.S. International Trade Commission, the USMCA will generate new opportunities for American workers and their families by creating 176,000 jobs across the United States and growing the economy by $68 billion. These gains are across the country and across all industries. The Pharr EDC has joined city leaders in advocating for USMCA in Washington and for the last two years, has been in critical discussions with Mexican leaders to ensure the measure is passed, including hosting two forums on the topic in Pharr. This is great news for the City of Pharr who for the last five years has been making significant investments at the Pharr International Bridge, which has landed the city the attention of the international trading community. The Pharr International Bridge has continued to rank as the #1 Port of Entry in the nation for fresh fruits and vegetables, crossing over 70% of the nation’s produce. As the bridge celebrated its 25th Anniversary in November, it was announced that it is now the third-largest border crossing in Texas, according to WorldCity, a publication that tracks trade data for every airport, seaport and border crossing in the United States. As stated by Mayor Dr. Ambrosio Hernandez during the recent State of the City Address, Pharr trade has grown by over a BILLION dollars every year with trade-in Pharr exceeding $35 billion in 2019 and growing 6% in imports and 5% in exports. We are poised and ready for this growth in the City of Pharr! As trade continues to grow with more logistics companies, cold storage facilities, and the freight transportation industry utilizing our city’s ideal geographical location near the Pharr International Bridge, we have been able to capture significant investments to the tune ...

PLEASE LOG IN FOR PREMIUM CONTENT. Our website requires visitors to log in to view the best local news. Not yet a subscriber? Subscribe today!

Advance Publishing Company

217 W. Park Avenue
Pharr, TX 78577