SUBIC BAY FREEPORT – The Subic Bay Metropolitan Authority (SBMA) has released a total of P150.5 million in revenue shares for the second semester of 2016 to eight local government units adjacent to the Freeport.

SBMA Administrator Atty. Wilma Eisma said the total revenue shares for the second semester of 2016 distributed among eight LGUs is 6.4% higher than the P141.4 million of first semester of 2015; and 30.6% higher than the P115.23 million for the second semester of 2015.

“We are proud to turnover to you the result of the hard work of our SBMA workers who made everything possible for the agency they serve as we continue to attract more investors and create more jobs,” Eisma told the local officials.

Municipal and city executives who attended the LGU share turnover ceremony held at the SBMA Boardroom include Vice Mayor Jong Cortez (Olongapo City), Mayor Joseph Rivera Inton (Hermosa, Bataan); and from Zambales were Mayors Jefferson Khonghun (Subic), Dr. Estela Antipolo (San Antonio), Jose Angelo Dominguez (Castillejos) and Elvis Soria (San Marcelino). Dinalupihan and Morong in Bataan were represented by each of its respective treasurers.

The shares handed over to LGUs were derived from the five per cent (5%) of gross revenue taxes paid to SBMA by locators and investors operating inside Subic Freeport. From the five percent GRT, three per cent goes to the national treasury, while the two per cent (2%) were distributed by SBMA among the eight LGUs.

The share each LGU receives is based on the following criteria: population (50%), land area (25%), and equal sharing (25%).

Based on SBMA records, this semester, Olongapo City remains the highest recipient of the revenue share with P35.1 million, followed by the municipality of Subic with P22.96 million and Dinalupihan with P18.73 million. Other municipalities were San Marcelino, P18.05M; Hermosa, P15.65M; Castillejos, P14M; Morong, P13.07M, and San Antonio, P12.92M.

The revenue shares are to be used to finance community development projects including those for health, education, peace and order, as well as livelihood programs to enable communities near the Subic Bay Freeport to keep pace with the developments in the special economic zone.

In response, Hermosa Mayor Inton thanked the SBMA for its continuous effort in improving the investment climate in the Freeport which generates employment opportunities for the residents.

“These revenue shares will be used for improving the basic services the local government units are providing for their constituents, since these services were already devolved in the discretion of the LGUs such as health, education and peace and order,” he said.

Meanwhile, Eisma urged LGU officials to start looking for possible areas to be developed as industrial parks as the SBMA eyes to extend the fenced areas of the Freeport to its neighboring communities to meet the land area requirements of new investors.

“We need more lands to be developed as industrial parks for our new investors. We should start making our master plan now. Currently, Subic Freeport has not enough land it could offer to new investors,” she said, adding that the SBMA is willing to help on the technical side of the planning.

She noted that the soonest these industrial parks are created, the SBMA would be able to accept big investment proposals, and would mean more jobs and bigger LGU shares.