Clark Development Corp. revenues up by P85 million

CLARK FREEPORT, Pampanga, Philippines  — The state-owned Clark Development Corp. (CDC) reported yesterday that its revenues went up by P85 million in the last two years, amid more investments flowing into the freeport.

In a report to CDC chairman Eduardo Oban Jr., the CDC’s corporate planning department said that CDC’s gross revenue in 2011 reached P984.4 million, as against only P898.6 million in 2010. The report noted a difference of P85. 6 million.

The CDC collects rentals for land use and other services from 552 active locators in the freeport where 64,256 workers are employed.

The CDC said that so far this year alone, 36 new firms signed up with CDC for investments worth over P2.6 billion in the next five years. The new investments are expected to create 433 more jobs.

The CDC also reported that last year, it had signed with 200 firms investments worth P22.9 billion and that these were to add some 8,200 jobs to folk in surrounding local communities.

This, as Oban signed recently more agreements with new investors, including Venzon Manufacturing Corporation which will manufacture decorative lighting.

“Venzon is expected to pour in around P254 million worth of investments with employment ranging from an initial 50 to a maximum of 400 factory workers,” Oban said.

Oban also said the CDC likewise signed a lease agreement with NClub Inc. for the establishment of a call center offering English tutorial to Koreans through Voice Over Internet Protocol.

NClub will be investing approximately $111,052 during its first year of operation and hire 60 workers.