CLARK FREEPORT -- Clark Development Corporation (CDC) president Benigno Ricafort said the "economic meltdown" in the US will not affect the establishment of the $1 billion Texas Instrument Incorporated inside the freeport.

Ricafort said the world's largest semi-conductor firm will continue its operation in Clark despite the slowdown in North America brought about by the ongoing recession.

TI is expected to start operating next year. It is expected to employ 6,000 workers once it is fully operational, according to Ricafort.

"TI is pushing through despite the economic meltdown in the US," Ricafort said.

He added that the immediate challenge now is the development of the Sacobia Area or Clark subzone, which he called "The Next Frontier", that will initially cover the 10,684 hectare area.

According to him, the master development plan for the area will be finished by December this year.

"The bigger challenge is the limited land available (which only measures) to about 300 hectares in the Clark main Zone. There is an on-going inventory of land suitable for use. Unfortunately, there is a change in direction every time the CDC presidency changes. Rest assured we will respect the existing approved land use plans," he said.

There are 781 investors in Clark at present. Fifty-five new projects with an investment commitment of P14 billion were approved this year.

Ricafort said that CDC came out with a framework for the development of the Clark sub-zone.

He mentioned the Land Use Development Plan of the Next Frontier; 20 Participative Management Concept; Parallel Development Program; and Socio-economic plans.

CDC also included in the framework the proactive coordination with Clark International Airport Corporation (CIAC) and Subic Bay Metropolitan Authority as one family logistics hub; the harmonization of the Subic-Clark Corridor, which is envisioned by President Gloria Macapagal-Arroyo.

There will be marketing and promotions; harmonization of Immigration, Custom, and Quarantine (ICQ); common regulatory Concept in the issuance of permits to operate and import permits; and the establishment of Manila Economic Coordinating Office (MECO).

The CDC president likewise cited the development of tourism in the area, which is parallel to the development of the Greater Clark Area as proposed by civic groups and tourism operators in North and Central Luzon, Ricafort said.

CDC will pursue the International Standard Business Center to enhance business development and strengthen support services to investors.

The last element of the development framework is Corporate Social Responsibility Program.

CDC intends to broaden networking resources aside from the allocation of 500 hectares as a center for higher education and technical subjects on agriculture, fishery, food technology. (RGN)