Increase in new businesses noted
THE NUMBER of businesses setting up shop in the City of Pines continuous to grow.
City Planning and Development Office head Evelyn Cayat reported that in 2015, the city government approved a total of 18,518 business permits where 11.5 percent of these were new registrants. Overall, the total number of firms grew by 3.0 percent.
Last year, the number of new business entrants grew by 40.8 percent while that of renewed business registrants declined by 1.8 percent.
“These statistics demonstrate strong business confidence as more businesses are established within the city. More businesses mean more investments and employment,” she stressed.
Cayat revealed new business establishments related to real estate almost tripled in 2016 and real property tax collection increased by 7.6 percent in the same year. Gaby Keith/ Baguio City PIO