Why is Clark the best location for industrial companies?
- Strategic and Accessible Location
- Availability of Skilled Workforce
- Wide Range of Businesses
- Tax Incentives
- Development of New Infrastructures
- Ease of Doing Business
Seated in the heart of Pampanga is a former American airbase known as Clark. As a quickly developing land area, we’re here to tell you why Clark and its surrounding areas are the best locations for industrial companies.
The Philippine administration has observed Clark’s massive potential. It is quickly becoming a center for major developments. It doesn’t come as a surprise that locators are continuing to pour out and expand in the area and nearby vicinities.
With plenty of opportunities for companies to capitalize on, we’ve rounded up some of the top reasons to conduct your business in Clark and its nearby areas.
Strategic and Accessible Location
Clark is only a few hours away from the country’s capital of Manila. To be exact, it takes only 2.5 hours to arrive in the area. With more highway projects being built in Metro Manila, Clark will become even more accessible in the near future.
Such a strategic location offers plenty of benefits for industrial companies. For one, firms can keep supply chains steady by distributing products quickly. Secondly, Clark also has vast road networks and a new international airport. It is said that a projected 50,000 tons of industrial cargo could be accommodated in the terminal.
In addition, Clark International Airport provides easy access to major cities across Asia such as Taipei, Hong Kong, Singapore, Beijing, Tokyo, and Seoul. The strategic location is highly attractive for international partnerships.
Availability of Skilled Workforce
The Philippines is home to a skilled workforce. This is the main reason why the country ranked third as the best location to invest in for 2019.
Recognized as one highly-trainable and hard-working labor force, Filipinos are able to adapt to diverse working environments. Moreover, Filipino employees are highly educated and are fluent English speakers. That alone was enough for international investors to quickly establish their manufacturing plants and distribution facilities in the country.
Industrial companies can tap into the Philippine workforce advantage as well. As the percentage of young professionals continues to rise, firms can easily search from the competitive labor pool and recruit those who fit their working standards.
Wide Range of Businesses
From information technology, manufacturing, logistics, to warehouses, there is an abundance of both domestic and international locators in Clark and its nearby vicinities. For example, the Science Park of the Philippines has attracted companies from diverse nationalities and business sectors to become a locator in their industrial parks.
Many Fortune 500 companies have chosen to locate their businesses at Science Park of the Philippines. No matter what type of industrial company you have, you can invest in this strategic location with ease.
Tax Incentives
With the main purpose of encouraging both domestic and foreign investors, Clark has become a special economic zone. The Bases Conversion and Development Act of 1992 made it possible for investors to gain fiscal and non-fiscal incentives.
Under this setting, industrial companies have the following incentives:
- Tax and duty-free importation of raw materials and capital equipment
- Permanent residency status for investors and their families
- Employment of foreign nationals
- Tax payments of only five percent on gross income
Development of New Infrastructures
The Philippines is accelerating its efforts to boost the country’s economy. With that being said, the country began developing more and more infrastructure to attract investments.
Clark has been transformed into an area that promotes international trade as well. The master plan is to include more recreational facilities, residential areas, telecommunications firms, and retail hubs. The vision is to establish more industrial parks that have facilities for logistics and manufacturing.
Such key developments offer endless opportunities for industrial companies.
Ease of Doing Business
Aside from its strategic location, infrastructure, and tax incentives, Clark and nearby areas have become ideal destinations for investors because of the ease of doing business.
This is all thanks to the Philippine government realizing the importance of investment for boosting the economy.
Industrial companies can establish their presence in the country with business-friendly policies. Expect transparent lease processes and reduced business processing times from all government agencies.
Key Takeaway
We’ve stated some of the reasons as to why Clark and surrounding areas are the best locations for industrial companies. The zone is quickly becoming the key to the country’s growth. With the advantages of new infrastructure, generous tax incentives, and government support, Clark and nearby areas are the ideal place for your investment.
Reap most of your investment by partnering with Science Park of the Philippines Hermosa Ecozone Industrial Park. With years of expertise, our industrial parks are dedicated to helping businesses thrive and reach their long-term goals.
For more information about the SPPI advantage, click here!
