Economy
Cabanatuan City is credited for its good access to commercial banks making the city ranked as one of the most livable cities in the Philippines together with Makati City in terms of banking. There are 60 commercial banks in the city, including the major players and their multiple branches citywide. Bangko Sentral ng Pilipinas (BSP) has a branch in the city's business district. Globe Telecom, Smart Communications and Sun Cellular also have their business offices located in the city. The Philippine Long Distance Telephone Company (PLDT) have their business office at General Tinio St., while Digitel is in Mabini Extension. TV and Radio Stations are also present in the city.
Besides being the trading center of agricultural products from the surrounding farming communities, there are other markedly vibrant economic potentials for Cabanatuan City. It is building a reputation of becoming the IT hub of Central Luzon by using the thousands-strong InfoTech workforce in and around the city. The first call center in Nueva Ecija was established in the city in 2008. The provincial government has plans of converting the 15-hectare old capitol site into an IT-BPO zone complete with office buildings and green spaces. It is also fast-becoming a major investment hub and considered as one of the most competitive cities for doing business in the country. The city is the headquarters of the homegrown NE Group of Companies, a relatively large retail and land development company. The Cabanatuan Electric Corporation (CELCOR) is 814th in the list of the top 1000 largest corporations in the Philippines.
The city's continuing urbanization lured investors not only into the city but also to the suburban municipalities as well. Its properly placed infrastructure is already having an effect to the city's economy. Cabanatuan residents will ratify on December 2012 the plebiscite declaring the city as an HUC (highly-urbanized city).
Subdivisions and residential buildings have sprouted like mushroom with more than 50 subdivisions around the city, including big land developers such as Asia Pacific (Don Jose de Real, Acropolis North Residential and Water Camp), Sta. Lucia Realty (Lakewood City Golf and Residential Estates), Vista Land and Lifescapes, Inc. (Camella Cabanatuan, Lessandra Cabanatuan), and Ayala Land (Avida Residences Sta. Arcadia, Avida Settings Cabanatuan, Amaia Scapes Cabanatuan), other known subdivisions are Goldenville Subdivision, Primavera Homes, Primavera Homes East, Kapitan Pepe Subdivision, Ciudad Real, Villa Benita Subdivision, Grand Victoria Estates, Ma. Guilla Mansion, a six storey residential building located at the heart of the city.
The recent conversion of urban barangays into Poblacion made Cabanatuan a city with 47 (52%) barangays that are predominantly urban.
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Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“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)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)