An eco-industrial park is a vast area of environment-friendly land developed as a site for factories and other industrial businesses. Industrial estates such as industrial parks are usually located on the edges of, or outside the main residential area of a city, and normally provided with good transportation access. These are infrastructures that are made available for entrepreneurs and what better place to invest than in the highly urbanized metropolis that is Cavite?
Cavite Eco-industrial parks are more important than you think. Here are some reasons why:
Increase in employment opportunities
An industrial park is based on a philosophy of integration of relatively different functions which employ skilled and unskilled workers (production function, and that of services, relaxation and education, too) into an industrial area with majority of industrial production and services with high economy turnover and high employment.
Reduced Production Costs
Concentration of industries brings about the presence of financial institutions, availability of skilled labor and the presence of repair, maintenance and service facilities. Industrial parks in the urbanized province of Cavite are like “heavyweight” versions of business parks.
Improving economic performance while minimizing environmental impacts
This is one of the goals of an eco-industrial park. Components of this approach include cleaner production, pollution prevention, energy efficiency and inter-company partnering. The main goal of an EIP is to end the longstanding dispute between industrial infrastructures and the environment.
Cooperation within the community
Since multiple infrastructures are within the community, they can help each other out in making joint researches regarding their markets. Industrial parks usually contain homes, offices, schools, shopping malls, hotels and restaurants and other recreational facilities.
Under the 2008 Development Zones Law, investors in industrial estates are exempted from sales tax, Customs duties, social services tax and dividends tax, while income tax stands at 5%. Firms that operate in the estates will be provided with construction licensing and work permits as well as connections to water, electricity and telecommunications networks, as detailed by Oxford Business Group.
Aside from being a valuable tourism hub, the district is also home to several establishments. Residents can shop at esteemed malls near them. It is also home to some of the country’s most prestigious schools and lastly, Cavite houses several industrial parks that are not only environment-friendly but also serve as economic boosters.