Perez: Pharr EDC in talks with several Fortune 500 companies

PHARR, Texas – Pharr Economic Development Corporation is in talks with several Fortune 500 companies about increased inward investment to the city, its president and CEO has confirmed.

Victor Perez spoke about attracting more manufacturing and warehouse operations while hosting a trade delegation from Mexico. In an interview with the Rio Grande Guardian, Perez said interest is growing because Pharr is adding a second span to its international bridge.

“There are some Fortune 500 companies that we’re talking to right now that are very interested in coming to the city of Pharr,” Perez said.

It seems as though every time the Guardian interviews Perez he has another big project in the works. This occasion was no exception.

“There are a lot of big things happening in the city. Today we had a meeting with a couple investors, and they have over 200 acres in south Pharr. They have some really big projects. I wish I could say more. You get excited when you have that (level of interest),” Perez said.

“I have a manufacturing company that’s interested in coming over, and another company that wants to come over. So, it’s exciting when you start talks like that, and you have the vision. It is very doable. As soon as we sign an MOU with one of these people, we’ll be able to share more with you,” Perez told the Guardian.

Perez’s comments come just a week after his Pharr EDC colleague, Janie Cavazos told the South Texas Manufacturing Association that the building of more industrial parks close to the international bridge will result in an additional 11 million square feet of industrial space.

And in an update, Cavazos, Pharr EDC’s property development manager, told the Guardian that it could be more than 11 million square feet.

“There’s one industrial park that has 148 acres. But they don’t, as yet, have the square footage of how many buildings they’re going to build. So, without counting them, it’s 11 million square feet. It could be more. That’s why I’m saying 11 million plus square feet.”

Asked to comment on Cavazos’ remarks at the STMA meeting, Perez said:

“So, right now we have three projects already, well, two for sure, that have already started construction on a million square feet of warehouse (space. And then we have another couple down the road, which is one of the groups that we met earlier, and they’re also doing another industrial park. They already have their tenants. They already have people already lined up.”

Asked why there is so much interest, Perez said:

“It’s the second span of the bridge, and so we’re excited about that. We’re having the second bridge coming up, and hopefully it’ll be done by in 2025 or ’26 but I think people are starting to see that, now, they can come through the Pharr International Bridge, and they can also have a warehouse distribution center or something where they can say, you know what, I can just cross the bridge, and I can put it (their product) there, and it will be safe. And then I can send it out and export it out to the rest of the country.”

Asked if there is any danger of Pharr EDC running out of land for industrial development, Perez said: “No, not right now. We have an ETJ (extra territorial jurisdiction) runs pretty far east. So, we’re excited about that. We just need to work on the infrastructure. We need to work on things here that we have been talking about. And so that’s our plan, to start putting all that together so we can attract even more of these companies.”

The Guardian interviewed Perez at the Pharr One Center during the Pharr leg of a two-day tour by 45-plus business owners from southern Mexico. The tour, organized jointly by the McAllen chapter of Asociacion de Empresarios Mexicanos and COMCE Sur, also took in visits to McAllen and Brownsville.

Editor’s Note: Here is the Guardian’s video interview with Perez:

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