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Thursday, March 28, 2024

Clark operator earns P1b

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Clark Development Corp., the administrator of Clark Freeport Zone, reported a 20-percent increase in gross revenue to P1.96 billion in 2017 from P1.64  billion in 2016.

CDC president Noel Manankil said the record-high revenue resulted in a net income of P1.03 billion, up 32 percent from 2016’s P738 million.  He said it was the first time the corporation’s net income hit the P1-billion mark.

Locator-firms in Clark increased 6 percent to 949 in 2017 from 896 in 2016.  Locators included 165 firms in the industrial sector, 125 in the ICT industry, 56 tourism locators, 218 service-related, 220 commercial companies, 19 developers, 44 institutional, 31 aviation-related firms, 53 logistics companies, 14 utilities and 4 agro-industrial companies.

Employees inside the freeport reached 107,997 last year, or 15.2 percent higher than 93,770 in 2016.

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The industrial and manufacturing industry had the most number of employees at 48, 476 or 45 percent of the total employment.

Manankil said aside from being an investment hub, Clark is also positioning itself as a tourism site. In 2017, 93 events were organized bringing in 1.142 million foreign and local tourists to the freeport. 

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