SUBIC BAY FREEPORT: Eight local government units adjacent to the Subic Bay Freeport received from Subic Bay Metropolitan Authority (SBMA) a total of P150.5 million in revenue shares for the second semester of 2016.
SBMA Administrator Wilma Eisma said the total revenue shares for the second semester of 2016 distributed among eight LGUs are 6.4 percent higher than the P141.4 million of first semester of 2015 and 30.6 percent higher than the P115.23 million for the second semester of 2015.
“We are proud to turn over to you the result of the hard work of our SBMA workers who made everything possible for the agency they serve as we continue to attract more investors and create more jobs,” Eisma told local officials.
Municipal and city executives who received their shares were Vice Mayor Jong Cortez (Olongapo City) and Mayor Joseph Inton (Hermosa, Bataan).
Recipients from Zambales were Mayors Jefferson Khonghun (Subic), Dr. Estela Antipolo (San Antonio), Jose Angelo Dominguez (Castillejos) and Elvis Soria (San Marcelino).
Dinalupihan and Morong towns in Bataan were represented by their respective town treasurers.
Five percent of gross revenue taxes are paid to the SBMA by locators and investors operating inside the Subic Freeport and three percent go to the national treasury while the two percent are distributed among the eight LGUs.
Each LGU receives a share based on population (50 percent), land area (25 percent) and equal sharing (25 percent).
Based on SBMA records, Olongapo City remains the biggest recipient of the revenue share with P35.1 million, followed by the municipality of Subic, P22.96 million and Dinalupihan, P18.73 million this semester.
San Marcelino received P18.05 million; Hermosa, P15.65 million; Castillejos, P14 million; Morong, P13.07 million and San Antonio, P12.92 million.
The revenue shares will finance community development projects including those for health, education, peace and order, as well as livelihood programs to enable communities near the Subic Freeport to keep pace with developments in the special economic zone.
Hermosa Mayor Inton thanked the SBMA for its continuous effort in improving the investment climate in the Freeport, which generates employment opportunities for the residents.
Eisma urged the LGU officials to start looking for possible areas to be developed as industrial parks as the SBMA eyes to extend the fenced areas of the Freeport to its neighboring communities to meet the land area requirements of new investors.
“We need more lands to be developed as industrial parks for our new investors. We should start making our master plan now,” she said.|
“Currently, Subic Freeport has not enough land it could offer to new investors,” Eisma added.
She said the SBMA is willing to help in the technical side of the planning.
Eisma noted that the soonest these industrial parks are created, the SBMA would be able to accept big investment proposals, and would mean more jobs and bigger LGU shares.