Economy
Lipa’s proximity to the country’s capital, Manila, having an approximate distance of 86 kilometers or an hour and half drive via the Southern Luzon Expressway enhances its strategic access to development trends. It is fast emerging as a key city in the province, becoming a major institutional/administrative center, medical center, commercial center, financial center, agro-industrial center and residential center.
It is identified as an ideal hub and center of the CALABARZON Agro-Industrial Region in the Regional Physical Framework Plan of Region IV-A. In the recent past, Lipa is being transformed from basically agricultural to a highly urbanizing area. A significant portion of the agricultural land area of the city has been converted to residential subdivisions, industrial area with the establishment of LIMA Technology Center utilizing lands in the city and Malvar Municipality. Recently, the influx of business process outsourcing (BPO) firms such as call centers have contributed much to the growth of the local economy. BPO sites are scattered throughout the city. It ranked 6th out of 10 in the Top 10 next wave cities of 2010 by the Commission of Information and Communication Technology (ICCT).
Read more about this topic: Lipa City
Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)