Economy
Most of the area is agricultural, although starting from the southwest at Salimbal Point in Poblacion, hundreds of hectares are converted into industrial land and another development of the same nature also exists at the other side of the Lugait river. More agricultural lands are now yielding to other purposes such as commercial, industrial and residential. The following are the existing general land uses of Lugait: Built-up-132.7216 hectares or 3.64% of the total land area, Agricultural- 2,679.3212 hectares or 73.49% of the total land area, industrial- 63.1381 hectares or 1.73% of the total land area, mineral land-196 hectares or 5.38% of the total land area, forest land- 64 hectares or 1.76% of the total land area, infrastructure/utilities- 42.1116 hectares or 1.16% of the total land area, and other land uses- 468.3794 hectares or 12.85% of the total land area.(Comprehensive Land Use Plan, 2000).
Lugait is a 2nd class municipality. It has an annual realized income of Php 63,419,226.00 for fiscal year 2010.
The municipality is accessible by plane through Lumbia Airport in Cagayan de Oro City or by boat either through the ports of Iligan City or Cagayan de Oro City. It may then be reached by bus, jeepney, taxi or van for hire. It usually takes only 45 minutes from Iligan City and 1 and ½ hours ride from Cagayan de Oro City. The common means of transportation to and from or within Lugait are jeepneys, buses, motorelas, tricycles, motorcycles for hire and taxis.
The coasts of Lugait also prove worthy for anchorage and navigation. A private wharf in fact is perched at Salimbal Point and cargo ships with both domestic and international routes are a common sight.
Cement, coconuts, fish and other fresh and processed marine products, bananas and garments are Lugait’s major products. It also prides itself of its famous delicacy- arguably the tastiest bibingka or rice cake in this part of the country.
Lugait has a vast reservoir of skilled labor with proper training and upgrading in various fields in non-formal education duly accredited by the Technical Education and Skills Development Authority (TESDA).It also has a high literacy rate of 97%.
Major Establishments in Lugait are Holcim Philippines,Inc., Mindanao Steel Corporation, Horizon Port Services, Trine Construction, WOL Corn Mill, Sy Corn Mill, CY Hardware and Lugait Lumber and Industrial Supply.
New investments in Lugait are entitled to tax incentives as approved by the Sangguniang Bayan. It has an active Chamber of Commerce and its peaceful and investment-friendly environment makes it conducive and advantageous to business.
Read more about this topic: Lugait, Misamis Oriental
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