13/12/2024
DO YOU KNOW?
Being classified as a 1st Class City in the Philippines offers several benefits that can positively impact the City’s development, governance, and the quality of life of its residents. Here are the key advantages:
1. Increased Revenue Allocation - a 1st Class City receives a higher share of the Internal Revenue Allotment (IRA), now called the National Tax Allotment (NTA), which can fund essential public services, infrastructure, and development projects.
2. Enhanced Investment Opportunities - the classification attracts investors due to the City’s proven economic potential and financial stability, leading to more business establishments, job creation, and overall economic growth.
3. Access to Larger Development Funds - a 1st Class City qualifies for more funding and grants from both national and international agencies for infrastructure, education, health, and other development programs.
4. Improved Public Services - with increased revenue, the City can enhance basic services like healthcare, education, public transportation, and waste management, improving the quality of life for its residents.
5. Stronger Creditworthiness - the classification boosts the City’s credibility, allowing it to secure funding for major projects.
6. Greater Recognition - achieving 1st Class status boosts the City’s profile nationally, making it more appealing to tourists, businesses, and organizations looking to partner in various ventures.
7. Increased Autonomy - the City gains greater financial independence and autonomy in managing its resources, enabling better planning and implementation of programs tailored to its needs.
8. Improved Local Employment - economic development and business expansion fostered by the City’s status create more job opportunities for residents.
9. Boost in Tourism - the classification often highlights the City’s progress, making it more attractive to tourists, which in turn supports local businesses and the economy.
By achieving 1st Class City status, the city lays the groundwork for long-term growth and development, benefiting its people and ensuring a sustainable future.
Padayon pag-Asenso Pagadian! 🧡