Edinburg’s economy is alive and kicking according to a recent study released by WalletHub. The personal finance online site named Edinburg No. 5 amongst the top most improved cities since the 2008 recession. The recession that lasted two years forced many in the nation to record huge mortgage losses, immense job losses and a drop in consumer spending and business investments.
To find out how the nation was recovering, WalletHub compared 18 economic indicators of 505 cities of varying size. The study divided cities by large, medium and small depending on population size then focused on each city’s employment & earning opportunities and it’s economic environment.
The results landed five Texas cities among the most improved with Edinburg ranking fifth in the small city category. The study also found that Edinburg recorded the highest overall decrease in the poverty rate in the nation.
Mayor Richard H. Garcia says clearly Edinburg is doing something right. “When the recession started back in 2008 Edinburg was already feeling the onslaught of a construction boom, and we decided that instead of taking a wait and see approach, to proceed full force ahead with City projects. So when companies saw that we weren’t slowing down, they didn’t either and chose Edinburg to invest their dollars. That and careful planning has been our recipe for success.”
And it’s not just companies coming to Edinburg, more and more people are choosing to live in the three-time All-America City where they can study at the University of Texas Rio Grande Valley and work in the increasing health industry. Edinburg is home to UTRGV, the largest school district in Hidalgo County and 11 hospitals.
Edinburg’s population, by the way, has increased by 19 percent since the 2010 U.S. Census nearing 89,000 people.
WalletHub is a personal finance website known for its free consumer tools such as its WalletLiteracy Quiz that allows users to get free credit reports, credit scores, and credit monitoring. The full WalletHub Report can be viewed in its entirety here: https://wallethub.com/edu/most-least-recession-recovered-cities/5219/