Economy
The economy of Iligan is largely based on heavy industries. After the construction of Maria Cristina (Agus VI) Hydroelectric Plant by National Power Corporation (NPC, NAPOCOR) in 1950, the city experienced rapid industrialization and continued until the late 1980s. The largest steel plant in the country, National Steel Corporation (NSC), was also established in 1962.
During the 1997 Asian Financial Crisis, the city experienced severe economic slowdown. A number of industrial plants were closed, notably the National Steel Corporation.
The city made its economic revival with the reopening of the National Steel Corporation, renamed Global Steelworks Infrastructures, Inc. (GSII) in 2004. On October 2005, GSII officially took a new corporate name: Global Steel Philippines (SPV-AMC), Inc.
Some heavy industries are also present in the city like Holcim, Iligan Cement Corporation, Granex, Pilmico and Mabuhay Vinyl Corporation.
Based on 2008, the city reached an income of 1 billion+ pesos and has a gdp per capita of about 3000. The income primarily comes from taxes, IRA, and general income.
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