BBVA Compass steps in to help City of Mission boost small-business ecosystem in Rio Grande Valley
BBVA Compass is shoring up efforts in Mission, Texas, to build a small-business ecosystem capable of supporting the booming growth in the city and surrounding Rio Grande Valley.
The BBVA Compass Foundation gave a $15,000 grant to the city’s Economic Development Corporation to support its new Center of Education and Economic Development. The facility will offer educational programs for small businesses and entrepreneurs in the Rio Grande Valley, with classes in science, technology, arts and math. The grant adds to BBVA Compass’ array of efforts in the area, which includes investments in affordable housing projects.
“This region is bursting at the seams with growth and potential,” said BBVA Compass Upper Rio Grande Valley Market President Jason Leal. “It is our responsibility, and part of our commitment, to foster that growth. One of the surest ways to do that is by being attentive to the needs of our small businesses. We're here to help them get all they can out of this age of opportunity.”
This region is bursting at the seams with growth and potential
The Center of Education and Economic Development held its grand opening at 801 N. Bryan Road on Oct. 13 and will begin holding classes as needed for local businesses. This marks the first time BBVA Compass Foundation has given a grant to Mission EDC, which is part of the City of Mission and is tasked with creating a first-class environment for businesses to operate and strengthening the area’s workforce.
Other recent actions BBVA Compass has taken to assist Valley communities include a recently-closed $5 million equity equivalent investment with Affordable Homes of South Texas Inc., and a low-income housing tax credit transaction, which includes $17.4 million for new construction, for the 140-unit La Pamilla multi-family housing project in Edinburg, Texas.
The Center of Education and Economic Development will also host a financial literacy course on October 27 conducted by BBVA Compass employees. The effort is part of BBVA Compass’ Day of Service initiative, where employee volunteers fan out across their communities to share their expertise.
Leaders from BBVA Compass and Mission EDC showcase the $15,000 check given from the bank to support the new Center of Education and Economic Development education facility.