ECONOMY
The strategic location of Iloilo, at the center of the Philippines, affords it an unparalleled advantage of being the hub of trade, commerce and industry. Iloilo's excellent port facilities, extensive infrastructure, modern telecommunications system and reliable utilities make it an ideal focal point for the exchange of goods, information and services. The province of Iloilo has a land area of 4,731 square kilometers. square kilometers.It is 55 minutes by plane from Manila, 30 minutes from Cebu and 2 hours from Davao. By boat, it is 18 hrs from Manila and 12 hours from Cebu.
The province has an extensive range of raw materials and large consumer market. It has a business-friendly local government that provides incentives to business in preferred investment areas.
Business opportunities abound in Iloilo where industrial centers and investment areas teem. Areas of development have mushroomed and flourished because the government and the private sectors have linked arms in investment promotion
Identified investment areas offer attractive incentives such as income tax holidays and free issuance of permits and licenses. Congestion in industrialized centers such as Manila and Cebu led investors to seek
alternative locations, an undertaking that is in consonance with the national government's effort to even up the growth distribution in the country.

TRADE AND INDUSTRY
There are 8,407 business establishments as of December 2003 in Iloilo City, where 1,182 are new establishments. Total capital investments for new business establishments is P365,506,020.92, however, both new and renewed capital investments for the year 2003 amounted to Php 13.02 Billion.
The City has 40 universal, 24 commercial, 11 governments, 9 thrift, 1 development, 9 savings, and 1 Thrift/Government and 2 rural banks which includes branches/extension offices in the different districts.
Private building constructions totaled 822 in 2003 with a total construction cost of P 1,005,443,542.74
Business names registered at Dept. of Trade & Industry (DTI) totaled 1,911 with the total investment of P 4,116,492,305.95.
Labor Force Participation Rate (LFPR) is 66.0 % (April, 2003).
79.5 % of the Labor Force are employed where 20.5 % constitute unemployment rate; while visible underemployed rate is 11.9 %. Of the employed person by type of industry from primary occupation 82 % belongs to service sector, 14 % belongs industry sector and only 4 % are in agriculture (as of April 2003 FIES, NSO).
Average Annual Family Income (at current prices) is P 283,604 or a percentage increase of 32.3 between 1994 to 1997 while Average Annual Family Expenditures is P 226,887 or a 25.6% increase (2000 FIES).
Average per Capita Income is P 65,036 and Average Per Capita Expenditures is P 51,557 (FIES 2000).
Average Inflation Rate is 3.2, the Average Purchasing Power of the Peso is 0.62 and the Average Consumer Price Index (CPI) is 162.6 in 2003. (Source: NSO, Prices Section).
Volume of Fish Unloaded and Auctioned at Iloilo Fishing Port Complex is 28,037,695 kgs. While Volume of Finished Fish Products shipped out is 241,862.92 kgs. in 2003. Also a total of 345,334.93 kgs. of materials was also processed at Iloilo Fishing Port Complex (IFPC).