The City of Sto. Tomas, Batangas is strategically positioned to be favorable for business and investments. Only a little more than an hour’s commute from Manila, this landlocked component city in the coastal province of Batangas, has proven to be a vital link in the Southern Tagalog region’s network of highways and transportation hubs.
Like a stout, beating heart, the city’s arterial passages include the STAR Tollway and the Maharlika (Pan-Philippine) highway, which passes through Sto. Tomas from Calamba City, leading to San Pablo City and down to Quezon province.
The city is the go-to link for transporting goods, commodities, and people. It is near the Batangas International Port and pier and makes for faster travel throughout Batangas and to the north and south of the country.
CAPITAL INVESTMENTS
From July 2021 to June 2022, some P1.9 billion capital investment was infused in the City of Sto. Tomas, Batangas by 930 new investors.
Between July 2022 to June 2023, new investors numbered 1,046, infusing another P1billion in capital investments to the city.
Beginning July 2023 to June 2024, capital investments further increased, reaching P3.5 billion from 1,089 new investors.
The city’s biggest investors include—SM City Sto. Tomas, its subsidiaries, and tenants (P1.5 billion); Mega Prime Foods Corp. (P500 million); and TDK Philippines (P154 million).
In October 2023, SM Prime opened SM Sto. Tomas, its fourth shopping mall in Batangas.
Located along Maharlika Highway, the new mall is strategically located at the intersection of highways crossing the provinces of Laguna, Batangas, and Quezon.
“We are delighted to open SM City Sto. Tomas to add more fun and excitement to the thriving City of Sto. Tomas in Batangas. We are making sure that this newest shopping, dining and entertainment hub will provide its guests with SM’s well-loved brand of service and convenience that will be beneficial to our fellows in Batangas, most especially this coming Holidays Season,” SM Prime President Jeffrey C. Lim said.
SM City Sto. Tomas enjoyed the highest (99%) opening rate, with some 137 of its 138 total tenants catering to customers on its opening day. It has been a year of good business for SM and better income and livelihood opportunities for the city’s 218,500 residents.
Big retail player SNR will begin operating in the city on the last quarter of this year, boosting further employment and livelihood opportunities for Tomasinos.
TAXES
There is a formula to create opportunities for employment and livelihood leading to sustained economic development in the City of Sto. Tomas, Batangas.
As implemented under the administration of Mayor AJAM, businesses have spurred needed employment and livelihood. Prudent financial management of corporate taxes generated by businesses have made it possible for the city government to raise additional funds essential for financing public spending.
Cumulatively, business taxes accruing to investments supplement funds needed in the construction of infrastructure such as roads, school buildings, and hospitals. These new infrastructure then help to create and maintain institutions in the form of basic government services, including police and fire departments, parks and playgrounds, and public libraries.
Total capital investment as of end of 2024 is expected to bring in an additional income of P60 million, generated from the city’s business tax and real property tax that account for the city’s locally-sourced income.
At the close of 2024, some 4,500 registered businesses is expected to generate a total of P278 million in taxes. About 65% of the tax collections will be sourced from the following high-performing companies—C-Joy Poultry Meat Products, Mariwasa Siam Ceramics, Kowa-Emori Philippines, Amcor Flexibles, San Miguel Corporation, Shoketsu SMC, Pepsi Cola Philippines, Philippine Geothermal, Maibarara, Geothermal, Bounty Agro Ventures (Chooks).
Over the last three years, business taxes have registered an annual growth rate of 19.7%—P162 million (2021), P192 million (2022) and P232 million (2023).
In terms of real property taxes, a total of P329 million have been collected in 2024, as a result of the Treasurer and Assessor Offices’ sustained information and assessment campaign involving commercial and industrial establishments. Collection in real property taxes registered an average increase of 10% from 2021 to 2024.
SARI-SARI STORES & FUTURE PLANS
Of the 4,500 businesses registered in 2024, some 16% or roughly 700 businesses are sari-sari stores.
To provide incentive to sari-sari store owners and to convince more owners to register their sari-sari stores, the city government granted a discount to taxes they paid to the city. Free sari-sari store signages were likewise provided.
“This year, we held a boodle fight as our way of celebrating the efforts of sari-sari store owners to support the local government. We thank them for doing their share in honoring the payment of taxes that support our development efforts,” Mayor AJAM said.
He added that for the coming year, 2025, the city government will implement a review and assessment of the financial statements of businesses, targeting an estimated increase of P40 million in revenue.
AWARD
For the fiscal years 2022 and 2023, the Department of Finance (DoF)-Bureau of Local Government Finance recognized the City of Sto. Tomas, Batangas for belonging to the Top 2 National Top Performing LGU in the country, in terms of locally-sourced revenue growth.
The recognition has been regarded by Tomasinos as palpable evidence for prudent fiscal management and efficiency as demonstrated by the AJAM administration.
Mayor Marasigan thanked the city’s business and investments community, adding: “Sa kabila ng mga hamon sa ekonomiya, nagawa nating mapalago ang local na kita, na siyang nagsilbing pondo para sa iba’t-ibang mahahalagang proyekto at serbisyong publiko [Despite economic challenges, we managed to increase local revenues, which served as funds for various important projects and in the rendering of public service].”
Mayor AJAM added that his administration, with the able support of Vice Mayor Catherine Jaurigue-Perez and the members of the Sangguniang Panglungsod, “will continue to initiate progressive economic programs toward a more stable and promising future for all Tomasinos.”
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