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Economic Benefits of a Bataan Technology Park

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Hermosa Ecozone Industrial Park is a Bataan technology park. It continues to thrive as an economic zone and science park that aids the current economy. In fact, most regions locally should have at least one industrial or science park within the vicinity. It not only assists the local economy but it also presents a variety of business and employment opportunities for locals. Such parks are located near economic zones to attract foreign enterprises and investors to help stimulate the country’s economy.

What makes science parks so successful? It welcomes innovation, which is the key to a thriving economic climate. The development of science parks is most of the time more complex than your regular business park. At first, industry experts would concentrate on physical developments. Along the way, they’ve discovered that science parks require a fresh point of view. First, an attractive live-work community attracts creative minds and competitiveness. It assists in keeping skilled employees for longer terms.

Despite this, developing a Bataan technology park such as the Hermosa Ecozone Industrial Park requires thoughtful planning. Planning that aims to facilitate the day-to-day needs of locators or businesses that cover park management, and amenities like transportation, banks, healthcare facilities, and even freight forwarding. The well functioning infrastructure of such a park is the center of productivity in the specific region. Moreover, the region should attract skilled, well-educated workers.

Hermosa Ecozone Industrial Park is a Bataan technology park that boasts these competitive advantages and more. The park has accelerated the growth of the local economy and has resulted in the security of the region for the foreseeable future. Many foreign enterprises have chosen the Subic Bay Freeport as their port of choice because of its close proximity of only 12 km away from the park.

Bataan as an Inclusive Economic Zone

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Economic zones throughout the country prove advantageous for both local and foreign investors. This is why you can see a lot of business parks and tech parks being built throughout the country. It’s much easier to establish businesses in these zones compared to other areas. This is especially helpful for foreign investors who wish to acquire skilled labor through outsourcing.

Throughout the years, the government has declared many economic zones in various parts of the Philippines. These zones are not only meant to appeal to foreign investors but to also stimulate the growth of the local economy. Local provinces are given the chance to get better employment opportunities without the difficulty of long travel times and heavy commutes. Local skilled employees are paid better by various companies located within the economic zones and technological parks.

Bataan’s history is so closely tied to the World War, that sometimes its shadow still looms in the background. But the local government knows that it’s important to reflect and learn from this event, learning not only to become better people but also making sure that history doesn’t repeat itself. Today, Bataan is home to a rich history, abundant tourism, and has risen above the ashes of the past.

The province was converted into an economic zone back in 1972 to allow foreign enterprises to settle down in the Bataan Export Processing Zone. The advantage of the BEPZ allows enterprises to gain benefits such as tax exemptions, depreciation of fixed assets, and more. The creation of BEPZ was focused on generating jobs, skilled workers, and increased foreign exchange, which are all used to accelerate the country’s development.

Recently, the Subic Bay Freeport Zone is looking at some expansions. Currently, the inclusive benefits you can get within the area are as follows:

  • Local and international tax exemptions for businesses, with only a 5 percent final tax based on gross income required.
  • Businesses are also allowed to make various allowable deductions on various materials, products, and lease expenses.
  • Up to 100% foreign ownership is allowable.
  • Tax and Duty-Free importations for various equipment, materials, and finances
  • No foreign exchange control
  • 14-day Visa-free entry
  • Special Visas for Expatriates
  • Management of the zone is through separate customs which ensures the free movement of goods and capital equipment within, into and exported at the zone.

The Hermosa Ecozone Industrial Park is a 162-hectare industrial estate component of 478-hectare mixed-use property development in the province of Bataan. This Bataan technology park is strategically located in the middle of the country’s growth corridor of Subic Bay Freeport Zone in Zambales. It is connected via spur road to the Dinalupihan Interchange of the Subic-Clark-Tarlac Expressway. Its proximity to Subic and Clark is important for companies that wish to avail of the Subic International Seaport and Clark Diosdado Macapagal International Airport.

Enterprises located within a Bataan technology park such as the Hermosa Ecozone Industrial Park can enjoy the benefits and incentives of the Special Economic Zone. The vast area is highly accessible and can be seen as a hub for environmentally-sound small and medium-scale industries.

Abundant Space for Growth

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A lot of raw lands are not planned carefully, but the local government has been making significant changes and improvements to ensure that citizens are able to navigate, travel, and live easily around the metro. The rapid investments of various foreign companies call for more space to be used. More real estate developers are finding ways to create more sustainable corporate real estate for interested companies. Once a company settles down in one area, you can expect some form of growth. They will need to upgrade their facilities and space to accommodate new technology and employees.

Every industry understands the importance of growth. Staying static and avoiding opportunities can be detrimental to success. Small enterprises don’t become successful without an open mind and a passion for improvement. Technology parks can help enterprises thrive by providing space for growth. Not only are you located within a special economic zone, but you have access to surrounding freeports where you can build and expand your business.

Most start-ups have a difficult time finding spaces like this that are packaged with great prices. Technological parks allow you to start right with special economic zone benefits.

Rapid Business Development

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In the Philippines, most people from the province would migrate down to the Metro Manila area for job opportunities. Although this has worked well before, the metro area is now congested and difficult to live in. The cost of living is so much higher compared to a few years ago. More companies are finding ways to adapt to this change.

Real estate developers are working double-time to find adequate space for commercial and residential purposes. While these changes are happening, businesses are also upgrading their processes. Sometimes, this requires more space to accommodate new facilities and employees. These changes must be supported by the right location and facilities.

When the technology park is located in a specific region that has been properly master-planned with room for expansion and technological advancement, this creates a foolproof formula. Businesses, no matter what size, can experience rapid development when settling down in a region that stimulates change and development. However, to facilitate rapid and positive change, the area must be properly managed by professional developers.

Technology parks are different from regular business parks through unique, professional management. The management of Hermosa Ecozone Industrial park, a Bataan technology park, is responsible for building and managing such infrastructure and facilities. A great deal of attention is dedicated to the setup of the professional environment which then facilitates and incubates rapid developments in business.

Good Opportunities for Thriving Technology

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In the past, humans were able to adapt to situations with analog methods. Ink and paper were the media for a very long time when managing an enterprise or business. Through research and development, we’ve created new processes that are much easier to manage. Through innovations and the desire to improve, technology continues to thrive as the driving force of many businesses.

Technology parks must be able to follow basic infrastructure guidelines. This can be from the basics such as ample space for driving, proper city planning, walking space, and environmental requirements. A unique factor about tech parks is that they’re also equipped with the latest telecommunications facilities and high-speed fiber optics. Being on top of these requirements ensures that each business situated in the region has opportunities to become better and be optimized for the future.

Technology parks are also designed to become the Information Technology hub of a region because of the aforementioned facilities. Many companies will also find skilled workers much easier in these technological parks. Many outsource business companies are already utilizing this strategy at various business parks throughout the country. Technology Parks rise above as the prime choice due to the technological advances and availability of skilled workers in one place.

Once the facilities and skilled labor force are established, the added benefits of the special economic zone allow for a tax and duty-free movement of products and equipment throughout the area. Many foreign and local investors will surely enjoy these cost-effective perks that can be found in economic zones.

Dynamic Amenities

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The purpose of these parks was to help businesses prosper and thrive. Tech parks have now grown in scale and complexity. Some parks even require housing and commercial facilities to accommodate the influx of employees and families. Dynamic facilities such as world-class gyms, shopping centers, restaurants, office spaces, and parking are not just for growing businesses. These facilities are also for the benefit of the residents within the area.

Employee welfare is important due to the rapid business changes mentioned above. It’s important to create smart cities that can promote stimulated business ventures and work-life balance.

Another amenity that shouldn’t be overlooked is security. Many investors and residents are settling down to find their place within the area. If the region isn’t secure, it may be difficult to keep these businesses around for a long time. Businesses and employees who chose to stay in the technology park should be able to feel safe and secure at all times.

Technology parks are designed with in-depth city planning. Many architects make sure that the city is sustainable and future proof. This means that roads, streets, and locations are properly scrutinized for the best flow. It should also be easy to get around through private and public transportation. Dynamic amenities like these ensure that the tech park is successful.

The Cutting Edge with a Bataan Technology Park and Science Park of the Philippines, Inc

The Bataan technology park Hermosa Ecozone Industrial park has stimulated the local economy of Morong, Bataan for many years. Not only has the park contributed through businesses but also local tourism.

Citizens of Morong no longer need to migrate to Metro Manila just to get a stimulating job or business opportunity. For foreign investors, the special economic zone can pivot businesses forward and help the economy locally. If you’re looking to help your business grow, whether you’re a local or foreign investor, Science Park of the Philippines can help you get the cutting edge advantage you need.

We’re a company with a long lineage of property investment since 1998. Here at SPPI, we have a diverse clientele of nationalities and business sectors. You can trust us with investment banking, venture capital, township and residential development, industrial parks in the Philippines, and more.

We’re highly regarded as the pioneers and leaders of industrial real estate development in the Philippines. You can expect world-class services and facilities for your chosen location. We have you covered with amenities such as transportation, banking, and healthcare within your estate. Complete services are here for you and if you’re an interested party looking to invest in an industrial park in Subic, Clark, or Bataan, look no further than SPPI.

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