The Bases Conversion and Development Authority (BCDA) announced that Science Park of the Philippines, Inc. (SPPI), the country’s leading industrial estate developer, will develop a 100-hectare economic zone in New Clark City with projected generation of P30 billion in new investments and 30,000 new jobs.
This developed following BCDA’s signing Thursday, January 23, of a 50-year lease agreement with SPPI to develop the industrial park within the rising metropolis. BCDA said its expects to generate P30 billion from SPPI and its locators and for government to collect an estimated P1.9 billion in income tax revenue. The project is also expected to create 30,000 new jobs from various locators, such as food, textiles, automotive parts, electric vehicles, semiconductors, and data centers.
SPPI is renowned for its innovative and sustainable industrial parks, with six premier sites across Central Luzon and Southern Luzon and Central Visayas that serve both local and multinational enterprises.
“At the heart of this partnership is a common goal: to create jobs and empower the local economy. By developing this industrial park, the project is set to open up thousands of job opportunities, not just in construction and manufacturing but across a variety of industries,” said BCDA President and Chief Executive Officer Engr. Joshua M. Bingcang.
SPPI Chairperson Guillermo D. Luchangco expressed gratitude for the trust and confidence placed in SPPI by the BCDA in awarding the project. With a clear commitment to surpassing expectations, Luchangco reaffirmed his firm’s goal of delivering a development that would not only meet, but ideally exceed, the standards set forth.
“We feel that in our own modest way, we have been able to contribute to the economic growth of the Philippines by putting up world-class industrial estates which enable us to attract manufacturing and technology companies to set up shop in our country,” Luchangco said.
The signing event was also graced by SPPI President and CEO Richard Albert I. Osmond, SPPI executive Vice President Noel Neric, BCDA Officer-in-Charge for Conversion and Development Group Mark P. Torres, BCDA Vice President for Business Development Mary Grace C. Perez, and BCDA Vice President for Investment Promotions and Marketing Department Erwin Kenneth R. Peralta.
