Vibrant commercial and industrial activities inside the Clark Freeport, a former US airforce base, had steadily changed Central Luzon’s economic landscape following a surge in investments, exports, and employment generation 19 years since its inception in 1993.
In its recent 19th celebration, the CDC looks back at its colossal makeover from a United States military installation into bustling freeport by highlighting achievements that had created a positive impression on both the local and national economy.
Because of the growing business confidence of locators and investors, Clark is one among the economic zones in the country to benefit from the influx of new business and increase in expansion programs by big ticket local and international companies.
In 2011, the CDC earned a staggering $3.912 billion in exports – a historical 161 percent increase from the state-owned firm’s US$1.453 billion record in 2010 due to impressive performances of its locators and investors.
According to the CDC, the entry of Texas Instruments (TI) in 2010 made a remarkable contribution to the export industry of this bustling Freeport with the $1.53 billion it posted last year.
Aside from TI’s contribution to the CDC’s 2011 exports statistics, at least $124 million in estimated service exports from the Freeport’s Information Communications Technology and Business Process Outsourcing (ICT-BPO) sector counted for the state-owned firm’s 161%-record increase.
Also, Clark’s export performance is equivalent to around 8.1% of the estimated total Philippine exports of $48.5 billion in 2011.
The following firms were responsible for Clark’s record-high export increase: TI, $1.53 billion; Nanox Philippines, Inc., $791 million; Phoenix Semiconductor Philippines Corp., $566 million; Yokohama Tire Philippines, Inc. (YTPI), $298 million; L&T International Group Philippines, Inc., $145 million; and SMK Electronics (Phils) Corp., $98 million.
The top five exporting sectors of the Clark Freeport last year were electronics, $3.1 billion; tires, $298 million; garments, $226 million; other manufacturing, $131 millioin; aviation-related, $13.2 million and other sectors, $139 million for a total of $3.9 billion.
Clark’s employment statistics also posted a significant 6% growth of 64,055 workers last year compared to 60,162 in 2010 – the highest level of employment generated since the CDC’s inception in 1993.
Last year, CDC has registered a total of 207 projects with a total committed investment of P22.97 billion that would provide a employment of 8,206 workers.
Among the major investments signed last year include YTPI, which committed to infuse P14.62 billion and employment of 3,000 workers; SPT (Phil) Clark Corp., P285 million; Bonsure Everrich International, Inc., P192 million; and Jamco Philippines, Inc., P171 millioin.
Other investments registered in 2011 were United Asia Automotive Group, Inc.,$35-million investment for assembly lines for Foton vehicles; $50 million state-of-the-art Philippine Academy for Aviation Training of Cebu Pacific Air and the Canadian aviation training firm CAE.
Clark is one of the perfect travel destinations in Luzon that offers an array of world-class leisure and recreational facilities like 36-hole championship golf courses, residential villas, specialty shops and restaurants, duty free shops, firing range, leisure parks, waterpark, hotels, casinos, and nature sight-seeing area.
The CDC envisions a consistent enhancement of its revenue programs by a well-focused marketing strategy on transforming the Freeport into a premier logistics hub vis-à-vis a globally competitive economic hub.