City Offers 100% Tax Incentives To New And Expanding Investors [ Thursday, 2nd of July 2015 | 3 years ago ]
This was announced by Mayor Edwin D. Santiago who also heads the Investment Incentive Board (IIB) during the Investor’s Forum held at the Heroes Hall recently.
“We are now accepting applications for the Investment Incentive Grant to new and expanding investors in the city that falls under the city’s investment priority areas” said Mayor Santiago.
In accordance with the City Ordinance No. 2011-020 also known as the 2012 Investment Incentives Code these includes business in manufacturing, services, industrial estate, agri-business, heritage sites, eco-tourism, waste management facilities, businesses that produce and develop renewable source of energy, and new and expanding labor intensive business enterprises.
“This Code aims to attract new investments, both local and foreign, keep and retain existing investments and encourage their expansion by creating a business-friendly environment” added the mayor noting that this law shall spur economic development and generate income and employment for Fernandinos.”
The applications for incentive grants will be validated and approved by the IIB composed of both public and private sector representatives from the city, Pampanga Chamber of Commerce and Industry, Inc. (PamCham), Department of Trade and Industry (DTI), National Economic Development Authority (NEDA), Federation of Homeowners of the City, and the Federation of Pampanga High School/Jose Abad Santos Alumni Associations Foundation (FEPJAAF).
One of the pioneer beneficiaries who received 100% tax incentives is Hilcres Management Corporation for the Best Western Bendix Hotel located at Barangay Dolores. Another potential investor for this is the Event Center of Laus Group of Companies.
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