BINALONAN, Pangasinan – Locals hope to cash on the windfalls of opening a wiring harness for automobiles and electronic products manufacturing firm inside a 28-hectare industrial park here.
With the opening of the Sumi-North Philippines Wiring System, residents of this town will be the direct beneficiaries with the creation of 10,000 jobs, said Pangasinan Fifth District Rep. Ramon Guico III Wedneday.
The Japanese company SNPW is speeding up construction despite the delays due to the Covid-19 pandemic inside the North Luzon Aero Industrial Park Corp. which also serves as its local partner.
Construction started in September 18 last year with SNWP hoping to finish the three phase project in three years. The first phase is set to be completed by yearend with the promise of 2,000 new jobs that will spur an economic boom in this sleepy town.
“They saw the potential and decided to put investment in Binalonan. They saw the potential and accessability of the town and the welcoming environment of the town especially the officials of the town,” Guico told RNG Luzon.
The project within the 28-hectare property is first locator in the industrial park of Binalonan.
“Imagine the multiplier effect of 10,000, imagine times two or times three,” a hopeful Guico said.”
He added: “those 10,000 employees will need housing, will need transportation, place to eat, things to buy to do grocery and marketing.”
“It is what I saw beyond the direct incentive, then the multiplier effect then, indirect incentive and benefits in having an economic activity like this,” he said and went on to say that other industries like those involved in information technology, aviation industry and Business Procession Outsourcing or BPO are expected to rise soon inside the industrial park.
He said: “Outside of this development, there are logistic companies who would like to develop logistics hub and are looking for hectares and hectares of properties as location. Then there is the residential development.”
He added that it will not be only residents of Binalonan that will be served first but those coming from neighboring local government units are to follow.
“(It is) going to Laoac , going to Pozorrubio, Urdaneta. This will be the nucleus and next, it will spread to the neighboring LGUs,” said Guico.
The Binlaonan SNPW is the fourth manufacturing plant to be established in the country. The others are in the provinces of Batangas, Tarlac and Bataan.