Suntrust Ecotown: A catalyst for growth
Suntrust Ecotown Tanza is the biggest investment generator in Cavite and will be the biggest job generator for the province in the coming year.
A catalyst for growth.
This is, without a doubt, how one can best describe the crucial role that Suntrust Ecotown Tanza, a sprawling 350-ha township, has played in the province of Cavite.
How so?
Basilio C. Almazan Jr., SVP of Suntrust Properties Inc. and general manager of Suntrust Ecotown Tanza, explained that the township today has the most complete offering: from residential, commercial, office, entertainment to industrial.
“Suntrust Ecotown Tanza is the next big thing in Cavite. It is, in recent times, the biggest investment generator in Cavite and will be the biggest job generator for the province in the coming years,” Almazan said.
Quality job opportunities
According to Almazan, the biggest component of the township will be the industrial park, which was initially planned to be about 300 ha. The rest will be devoted to residential, commercial, office, entertainment and institutional components including government offices, school and hospital, among others.
The industrial park alone, he added, is expected to generate around 120,000 direct jobs and roughly 600,000 indirect jobs, which will include those for security and other support services, construction, restaurants, transportation and other service-oriented establishments.
“The thousands of stable jobs to be created by the huge investments earmarked and directly poured by Suntrust in the industrial park and the entire township, coupled by those made by the park’s locators, will further strengthen the local purchasing power and energize the province’s economy,” Almazan explained.
“The multiplication of investments and of direct and indirect employment through various industries, residential, commercial, office, entertainment and other institutional establishments in Suntrust Ecotown Tanza and nearby areas will further generate more income for the province and its constituents and, thus, further spur Cavite’s growth,” he added.
First foray
Almazan shared that the Suntrust Ecotown Tanza was the first foray in industrial park development not just of Suntrust Properties, but of the whole Alliance Global and Megaworld Group as well.
“Suntrust decided to go into this segment as it wants to further help in nation building especially in terms of job generation, foreign and local investments, exports through environment and energy friendly developments,” Almazan said.
“It is also in line with the vision of Dr. Andrew L. Tan, the group’s chairman, to propagate more live-work-play-learn communities through sustainable township developments, like Suntrust Ecotown Tanza,” he noted.
Currently, the developed lots in the industrial park are offered for sale. Some facilities providers, who bought industrial lots, are putting up factory buildings for lease to companies registered with the Philippine Economic Zone Authority.
Locators can enjoy a menu of fiscal and non fiscal incentives including income tax holiday or exemption from corporate income tax for four to eight years; exemption from national and local taxes; and duty-free importation of capital equipment, spare parts, materials and supplies; automated import and export permit system; and simplified import-export procedures, among other perks.
“We expect to have hundreds of mother or primary locators and hundreds more of other locators, suppliers, and sub-contractors serving the needs of the mother locators,” Almazan related.
“Our locators are into small to medium industries like manufacture and assembly of semiconductor components, computer, airplane, car and other transportation parts, garments, medical and food supplies, etc. We are not allowing heavy industries in the park,” he added.
The first locator at Suntrust Ecotown Tanza was Philippine Toei Chemical Corp., which produces industrial rubber parts for the automotive industry. It began operations in December 2015. It was followed by Oakwave Philippines Corp., which manufactures wiring harness, and CCMC Land, a facilities provider.
Within the year, Suntrust expects more locators to start operations as well including Orient Goldcrest Realty; Lexan Industrial Corp.; Dyco; ZhongYao; and Ecopack, among others.
Ideal location
It really comes as no surprise why many manufacturing companies choose to locate within Suntrust Ecotown Tanza.
For one: the industrial park offers amenities that help create a more conducive business environment for its locators.
These include having a 24/7 security; Peza/Customs office; electronic vehicle and shuttle terminal; fire station; a sewage treatment plant; materials recovery facility; driving range and mini-golf; badminton and basketball courts; a park; hotel; and chapel, among others.
This eco-friendly industrial township offers competitive water and electricity rates to its locators as well.
Notable to point out too that Tanza, where the park is located, is a first-class municipality in Cavite, where ongoing and planned infrastructure projects are expected to lead to ease of operations among locators. These projects include the Cavite Gateway Terminal; LRT Line 1 Extension; and the Cavite-Laguna Expressway (Calax).
“We think the various infrastructure projects initiated by the province especially those on road widening, rehabilitation, and creation of other roads and access points, on top of those undertaken by the national government like the Calax and LRT Extension, are more than sufficient to meet the expected surge in economic activities in the park,” Almazan said.
“The establishment of a new port around 8 km away from Suntrust Ecotown Tanza will also make the transport of goods from the park faster, easier, and more cost efficient,” he concluded.
