Economy
The total Internal Revenue Allotment (IRA) share of the municipality of Sogod for the fiscal year of 2011 was PHP 64,821,215.00 and PHP 16,122,286.86 for the local-sourced revenues making the municipality as the second-largest income-maker and IRA in the entire province of Southern Leyte. Also, it is one of the largest in the entire island and being competitive to other neighboring municipalities like Abuyog, Albuera, Bato, Baybay, Dulag, Hilongos, Liloan, San Juan, and Maasin City. The municipality is one of the fastest growing economies in the southern portion of Leyte, as it is very evident until today because many people from other communities gather in the public market and in the major groceries (like Joaquin Yap and Sons Marketing, Inc. (JYSMI), PANELANS and the Antonio Palanca Remedios Aquino (APRA) Grocery) to meet their local necessities and to sell their products and produce. Fishes, meat, vegetables and rice are also abundant in the public market of Sogod because there are many consumers and they can afford to transfer their produce from their area to the market easily by well-maintained roads and infrastructure that leads to the poblacion.
A majority of the people living in the Pacific Coast and the Panaon Island choose Sogod as their choice because of its proximity and location than commuting to Maasin City due to its location, being the farthest area of trade. The municipality is also booming due to the heavy migration that the municipality has encountered, seeking a better future in the municipality.
Despite its economy, the town is facing a major face-lift, as the town undergoes construction of several buildings like banks, cooperatives, restaurants and a mall. Gaisano Capital Group, one of largest shopping mall chains in the country, opened its first constructed mall in the province one June 10, 2011 during the town fiesta and can be found at the corner between Benito Faelnar Circumferential Road and Bagares Street, Barangay Zone V.
Read more about this topic: Sogod, Southern Leyte
Famous quotes containing the word economy:
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—Ralph Waldo Emerson (1803–1882)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)