Balanga City cracked another record of its own after grossing P6.4 billion in business activities alone last year, which hugely came from
the increased economic bustle of major enterprises.
“The steady increase in the city’s income from businesses followed the P6.1 billion in 2012, and P5.9 billion in 2011,” Mayor Jose Enrique Garcia III said in his recent State of the City Address held in Plaza Mayor.
A big bulk of this came from the gross sales of the businesses, which amounted to P5.5 billion.
Breaking this down, P53.4 million was generated in business taxes and P859 million in total investments on infrastructure.
“Our economy is animated by the investors, therefore we need to entice more of them here in Balanga,” Garcia said.
He also reported that most of the sources of the city’s income increased compared to 2012 including the real property tax, economic enterprise, and internal revenue allotment among others.
Under the economic enterprise, the income from the Galeria Victoria mall, Tiendas de San Jose, public market, and from plaza kiosks amounted to P51 million compared to P43 million in 2012.
With businesses flourishing in the city, thousands of citizens landed jobs in information technology and business process outsourcing firms and in commercial establishments.
Through the help of the Public Employment Services Office (PESO), about 3,530 job hunters were able to get a career and over 7,600 individuals were registered in the City of Balanga Jobs Online Website which will match them to job providers.
Garcia added that a job readiness assessment would be integrated in the Barangay Week program wherein PESO staff will help citizens in barangays to find jobs.
“The progress of the city will only be sustainable if businesses will continue to grow and increase because they are the enterprise that gives jobs to our fellowmen,” Garcia stressed. (CLJD/JMG-PIA 3)