THE City Government through the Local Investment Board in simple ceremony awarded a Certificate of Exemption to Bacolod Big Joc Realty and Management Corporation for their P60-million “preferred investments.”
Said investments include the East View Hotel and Blue Grass Café, Bar and Grill located at the corners of Pag-asa and the circumferential road, Barangay Villamonte, Bacolod City.
Mayor Evelio Leonardia awarded the certificate to corporation owner Johnny Chua.
“This is another concrete proof how business-friendly Bacolod City is…an indication that the city now is having an economic boom,” said Leonardia.
Leonardia said that the P60 million investments could bring employment for many Bacoleños.
Chua said instead of putting business in other place, “why not here, to promote and create jobs and help the economy of Bacolod.”
Bacolod Business Development and Promotion Center head Ardis A. Jaculina said that the hotel and restaurant is entitled to a business tax holiday for five years and other charges imposed by the governing city ordinance will also be waived for the same period.
The exemption was granted under the Bacolod City Local Investment Code, created by City Ordinance No. 207 as amended by City Ordinance No. 323, Series of 2002.