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LEGAZPI CITY INVESTMENT INCENTIVES (Per SP Ordinance No. 96-016 )

LEGAZPI CITY INVESTMENT INCENTIVES (Per SP Ordinance No. 96-016 ). Hon. Noel E. Rosal City Mayor. INVESTMENT INCENTIVES.

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LEGAZPI CITY INVESTMENT INCENTIVES (Per SP Ordinance No. 96-016 )

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  1. LEGAZPI CITY INVESTMENT INCENTIVES (Per SP Ordinance No. 96-016) Hon. Noel E. Rosal City Mayor

  2. INVESTMENT INCENTIVES In addition to the incentives provided by law and by the Local Government Code of 1991, the Legazpi Investment Incentive Code of 1996 under SP Ordinance No. 96-016 provides:

  3. For New Investors Small Enterprises Below P15M 3 years Medium Enterprises P15M-P60M 4 years Large Enterprises Above P60M 5 years • Exemption from the Mayor’s Permit fees, building permit fees, business sales taxes, and other fees and charges imposed under existing city ordinances and; • Basic real property tax on property improvements, buildings and machineries under the Tax Code of Legazpi City with period of exemptions subject to the following qualifications:

  4. For New Investors • Should they locate during the first year of implementation of the Legazpi City Investment Incentive Code of 1996, the above period of exemption shall be extended by two years. • Tax reduction or tax credits for expenditures on construction of “public infrastructure” (such as roads, bridges, etc.) accessible to public use as determined by the Board. • Skills training for company employees.

  5. For Existing Investors • Construction of public infrastructure (such as roads, bridges, etc.) accessible to public use. • Rehabilitation/improvement of buildings and other commercial structures that are socially acceptable, environment friendly and which contributes to overall aesthetics of the City and its residents. • Clean and Green Projects such as tree planting in designated areas of Legazpi City Government.

  6. AVAILMENT OF INCENTIVES

  7. For New Investors • New investors who intend to avail of the incentive provided in this Code must meet the following qualifications: • That the business enterprise must have complied with all the requirements mandated under existing local and national laws and Constitution. • That the prospective investor’s place of operation or production be located within the Priority Development Area (PDA) of Legazpi City.

  8. For New Investors • That the prospective investment must fall within the Priority Investment Areas (PIAs). • The new enterprise must have the following capitalization: • Small Enterprises - Below P15M • Medium Enterprises - P15M-60M • Large Enterprises - Above 60M

  9. For Existing Enterprises • That the business enterprise must have complied with all the requirements mandated under existing local and national laws and Constitution. • That the existing business enterprise must engage in Priority Investment Areas (PIAs) and Priority Development Areas (PDAs).

  10. Existing Enterprises • That the business enterprise must have the following capitalization: • Small Enterprises - Below P15M • Medium Enterprises - P15M-60M • Large Enterprises - Above 60M Provided, that the amount of capitalization be based on the total project cost as stated in the investor’s study submitted to and approved by the Board.

  11. PRIORITY DEVELOPMENT AREAS (PDAs) - URBAN Western Barangay: 1. Bogtong Northern Barangays: 1. Arimbay 2. Rawis

  12. PRIORITY DEVELOPMENT AREAS (PDAs) - RURAL Southeastern Barangays: 1. Puro 2. Lamba 3. Maslog Southern Barangays:  1. Taysan 2. Homapon 3. Banquerohan 4. San Francisco 5. Bariis 6. Imalnod 7. Cagbacong 8. Buenavista 9. Bagacay 10. Estanza 11. Mariawa

  13. Figure 1 - PRIORITY DEVELOPMENT AREAS (PDAs) )

  14. PRIORITY INVESTMENT AREAS (PIAs) • Manufacturing • Agribusiness, Forestry & Fishing • Trading Operations • Tourism-Related Projects • Infrastructure and Services

  15. ESTABLISHMENT OF THE LEGAZPI CITY INVESTMENT PROMOTION CENTER • Main Objectives: • Investment Promotion Efforts • Investor’s Facilitation Services • Research and Planning Activities • Technical Sections: • Investment Promotion Section • Investor’s Facilitation Section • Planning and Research Section • The above section will be assisted by an Administrative and Finance Section.

  16. CITY OFFICIALS Hon. Noel E. Rosal City Mayor Hon. Jesus Enrico Moises B. Salazar Vice Mayor Hon. Avelino A. Pacamara Councilor Hon. Michael Victor C. Imperial Councilor Hon. Manuel C. Arroyo Councilor Hon. Luis C. Adornado Councilor Hon. Benedicto A. Azul Councilor Hon. Nenebeth S. Cabigao Councilor Hon. Jesus Chito B. Baldo Councilor Hon. Ma. Aniceta R. Llaguno Councilor Hon. Raphael B. Ruivivar Councilor Hon. Oscar G. Santillan Councilor Hon. Jose Lee Councilor (Liga ng mga Barangay) Hon. Preciousa T. Nidea Councilor (Liga ng mga Kabataan)

  17. Prepared by: City Planning and Dev’t Office City Hall, Legazpi City Tel. Nos. 820-6075; 820-2927; 820-6133

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