Exclusive: City of Pharr, UTRGV, to launch an international incubator

MCALLEN, Texas – Victor Perez, president of Pharr Economic Development Corporation, says an international incubator is to be built in downtown Pharr to help foreign investors grow their businesses and develop their ideas in the United States.

The project is being developed in conjunction with UT-Rio Grande Valley and could be officially announced as early as June 24.

Perez gave brief details at during a trade visit by Indian investors that was hosted by the Council for South Texas Economic Progress and held at the Casa de Palmas in McAllen. He then elaborated on the plans in an exclusive interview with the Rio Grande Guardian.

“One of the things that we shared in this meeting with COSTEP and these investors from India is that we are going to launch an international incubator,” Perez told the Guardian.

“The investors from India wanted to know what the City of Pharr is doing to impact the whole region. Not only on the American side but on the Mexican side. And this is it.”

Perez continued: “We just shared that we are going to have an official opening pretty soon for an international incubator. We are probably going to be announcing it on June 24. We are very excited. It is going to impact all of Mexico, and even places as far afield as Brazil and Canada. We are going to have the only international incubator in the region.”

Asked why he feels an international incubator is necessary, Perez told the Guardian:

“Because in the past I have had several municipalities, mayors, commissioners come to my office. And they kept telling me they did not have a place or anyone to go to as far as investing in the USA. One group after another would talk to me about this.

“I started thinking, we need to come up with something because yes, those people from Mexico and other countries, they want to invest, and they have the funding. So, what can we do? We have got to have a center where they can come in and be part of a soft-landing program or be housed in a one-stop shop where they can get all the information they need to start or grow their business in the U.S.”

Perez said there is a lot of excitement for the project, not just from Pharr city leaders and UTRGV officials, but also universities and business leaders in Mexico.

“We are excited. We have several people from the university in Monterrey and other places that are very interested. We kind of shared a little bit of the information a short time ago. They are excited we can now talk about it more.”

Asked how UTRGV got involved, Perez said:

“With UTRGV, we first had this discussion way before COVID. When I presented this project, they were really happy with it. Yes, there are a couple of incubators, in Weslaco, the eBridge in Brownsville, and, of course, the CEED in Mission. But we do not have anything to interest the international investor. The corporate companies that want to come in but need help. They might have to make several trips to see various experts. But here they will have everything under one roof. The university is going to provide a lot of resources and information and so are we.”

Perez said the idea was put on hold until after COVID.

“Once COVID hit, we stopped. Everything stopped. But after COVID they (UTRGV) came back and said, hey, we need to get this program started. They said, it is very important to us and it is very important to the region. There is nothing like this, what you are proposing.

“And so, we are almost there. We have the building. We are furnishing it as we speak. It is going to be right off Cage Boulevard in downtown Pharr.”

Perez said there were attempts to start an incubator in Pharr a few years ago in an old K-Mart building. But it never happened.

“They (UTRGV) said you have got to start small and then expand. So, what we will start with is a building that is the perfect size. We have traveled in Mexico, and we have had some Canadians that have visited with me, and we know this is going to be a hit. I think we are going to be on the map for the whole state of Texas.”

Asked what the international incubator will do for entrepreneurial ecosystem of the Valley and northern Tamaulipas, Perez said: “It is going to do so much. These entrepreneurs are going to have quick access to all the information they need. They can be housed there for six months or a year. From everything I have heard they are excited about this, and they are looking forward to it.”

Perez said the current nearshoring phenomenon is going to “spill over” into the new project.

“We have been in Monterrey and Ciudad Mexico and from everything we are hearing, the companies want to come and invest in the US, much more than anyone thought would happen. It is tied to wage leaves and the security situation.”

In other news, Perez said Pharr EDC has a couple of other big projects that he cannot announce just yet.

“There is a huge one which might take a year to develop, to get all of the logistics out of the way. But it is going to impact the whole Rio Grande Valley also.”

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