‘Big leap,’ says Mayor Escalante on reclassification of Cadiz into first class component city

A big leap.

This is how Cadiz City Mayor Salvador Escalante, Jr. termed the newest feat of their city after being reclassified by the Department of Finance (DOF) as one among the first class component cities across the country right now.

This is more a prestige, rather a tribute to all Cadizeños who worked hard in making Cadiz truly a business-friendly community, the mayor emphasized.

To be a first class component city, the DOF guidelines say, a local government unit must have a consolidated annual income of at least P1.3 billion.

The income combination must come from both national tax allocation (NTA) and local revenue sources.

Cadiz surpassed this basic criterion.

This year, it has more than P1.4 billion in annual income that already included the more than P116 million in local taxes.

Its City Treasurer’s Office also exceeded from its local revenue target by more than 48%, a manifestation that businesses are currently mushrooming around the city.

“Simple to conclude: We have a healthy and vibrant economy right now,” Escalante declared.

He then attributed Cadiz’s “big leap” to the city government’s technology-driven and people-centered policies in advocating business-friendly initiatives free from red tape.

Cadiz’s 11-minute policy in the issuance and renewal of business permits is hailable among investors.

Escalante said there is no substitute to being friendly with all the investors that are coming and signifying to invest in Cadiz, dubbed as “The Land of Splendid Opportunities.”

“Really, good relationship matters,” he added.

Cadiz, home to a 132.5-megawatt (MW) Helios Solar Philippines, the biggest solar farm in Southeast Asia so far, is forecasted to have a dramatic increase of nearly P400 million in its NTA by next year.

With this, the mayor said they will still remain prudent in their spending.

“We will always see to it that we will be spending for the right thing for the right cause for the beneficiaries as we continue advocating effective and efficient public services for Cadizeños’ sake,” Escalante stressed.

Meanwhile, Cadiz’ reclassification from a second to first class component city in Negros Occidental was pursuant to DOF’s Department Order No. 074-2024.* (PR)