CEBU

Mandaue sees P5B in CICC earnings

Mandaue City is expected to earn between P3 billion and P5 billion in taxes from Millenium Pan-Asia Hotel and Resort Inc. (MPAHRI), who is planning to make the Cebu International Convention Center (CICC) a “tourism magnet,” said Mayor Luigi Quisumbing.

Quisumbing said the projection is based on taxes paid by MPAHRI, as shown by the City Treasurer’s Office records in the company’s five years of operation.

“We hope that this is the first snowball in what will be an avalanche of economic benefit for Mandaue City,” Quisumbing said.

Quisumbing is hopeful of Mandaue’s economic development and the improvement of basic services that will result from it.

Quisumbing said that aside from paying taxes to the City, MPAHRI will also provide thousands of jobs to the people of Mandaue.

“It will bolster our local economy through taxation sa local revenue. Aside from that, it is projected to create 5,000 new jobs. The commitment of the developer is that a minimum of about 60 to 70 % of those jobs are going to be filled by Mandauehanons. This is direct employment, which means this is a full time job that will be created in the complex itself,” Quisumbing said.

He said MPAHRI will need around 10,000 to 12,000 workers to develop CICC into a resort. The resort will have hotels, apartments, a grand casino, an indoor theme park, movie houses, a pool garden, a shopping center, office spaces and a 15,000-square-meter nga convention center.(JPP)


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