TABUK CITY, Kalinga – During the press conference hosted by the City Public Information Office today, City Mayor Darwin Estrañero gave his assurance that his administration is spearheading efforts to sustain the city’s economic growth.
One of the initiatives to strengthen the local economy for Tabukeños, according to Estrañero, is the investor’s strong confidence in the city. He announced that there is now an influx of business and more investments is expected, citing the coming of another giant food chain, the KFC Corporation, which plans to open in February 14, 2025 at Bulanao barangay.
There are 2,597 enterprises in the city as of September 16 of this year according to a data from the Business Permit and Licensing Office (BPLO), of which 2,301 have been renewed and 296 are new registrations.
“More businesses and investments mean higher revenue, and will generate local employment,” he stated.
According to Estrañero, the city economy is robust and could surpass other local economies in the Cordillera Administrative Region and Region II in 10 years due to a variety of economic activities.
In his State of the City Address, the city, through the City Building and Architecture Office, generated PhP2.6 million in revenue in the first semester of 2024 and PhP4.7 million in 2023 through the Online Processing System: BPCO.
Data from the City Treasury Office (CTO) indicates that in 2023, the city collected PhP85.02 million, the greatest amount of municipal income ever. Additionally, the CTO projected PhP80,200,000M in revenue by 2024.
Despite a drop in the national tax allocation for the year, the rise in local revenue generation points to a favorable trend in the city’s economic development with Business tax making the largest portion of locally generated revenue.
The Estrañero administration pledges to implement more game-changing ideas and economically motivated initiatives that will create a thriving community which has paved the transition from a fifth-class to a first-class city in the Cordillera. By Darwin S. Serion
