By CRAIG ALANIZ
The South Padre Island Economic Development Corporation held a regular meeting last Wednesday.
Dr. Mostafa Malki presented the annual Economic Index and Economic Impact Analysis to the EDC. He said the study had three factors he examined: Performance, projections and external factors.
Malki said two-thirds of South Padre Island visitors are from the state and the remaining one-third of visitors are equally represented from the United States and Mexico. He said visitation has been recovering since Hurricane Dolly.
During the summer months South Padre Island outperforms the competing Texas Coast destinations, but underperforms during the rest of the year, Malki said. Sales tax revenues are increasing and the real estate market is healthy, Malki further remarked.
According to Malki, the Island also provides 120 jobs for every 100 people. He said the Island brings in $370 million on an average year that gets disbursed throughout the rest of the county.
The South Padre Island EDC will use this information to strengthen their points of the economic impact of the Island.
The EDC cancelled policies with the Texas Municipal League for the Birding and Nature Center to pursue policies from Texas Insurance Managers from Harlingen.
The EDC approved a bid from SSP Design to create a habitat for the Birding and Nature Center.
An outline/script for a two minute business recruitment video was approved by the EDC.
The EDC approved to continue to plan a Governor’s Small Business Forum in September 2013 based on the guidelines and procedures provided.
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