However this is not about Subic as a military installation it is about The Great Transformation that has taken place since the US Navy left Subic. The information herein is based on my travels to Subic/Olongapo since the year 2000. When I first came to this place I was quite amazed to see the tattered condition of Subic, now known as the Subic Bay Metropolitan Authority (SBMA). At the time I had no idea how much of a transformation would take place. Even from the very first time I came to Subic as a teen I had sensed great possibilities for this place and wondered what life would be like in the absense of the US Navy.
The transformation began in 1992 by the efforts of then SBMA Chairman Richard Gordon now Senator Richard Gordon for the creation of the Subic Bay Metropolitan Authority. It was thought that the departure of the Americans would leave a huge void in the local and national economy. Initially this may have been the case, but the law that created SBMA transformed this once great military facility into a bastion of economic leadership, building new hope of independence, confidence and pride among Filipinos. The office of the Chairman of SBMA was most instrumental in the changes that would take place in the coming years beginning from the year 2000 to present. For example it was reported that in the first nine months of 2001 15,270 new jobs were created compared to the 9,694 new jobs it created in the same period in 2000 according to then SBMA Chairman Felicito Payumo.
Being a Freeport SBMA offers much to the investor, this has been made evident by the growing numbers of locators (investors) that have joined the ranks.
