Although the busiest business havens of the northern part of the province in the 1920’s until the later part of the 1950’s, the economic growth opportunities of the town was reduced dramatically to a minimal when most of its business operators relocated their operations in the new and more accessible town of Cabadbaran.
Today, the bulk of Tubay’s economic activities are affixed mainly to the typical sari-sari stores, family-run small handicraft making businesses, food processing, soap making and the drastically new mining operations.
In last year’s count, the following lines of businesses were accounted for during the annual business mapping survey:
|Nature of Operations||Number of Registered Operators|
|Sari-sari Stores (Variety Store)||77|
|Food Processing Plants|
|Arrastre & Stevedoring Service||1|
|Bath Houses & Resorts||1|
While most of these activities have augmented the local revenues of the municipality, a bigger portion of the economic growth opportunities of Tubay in the area of tourism and other industrially viable undertakings are still lying in waiting for the right prospects and utilization. So that when its natural environs are soundly exploited with a sustained-integrity, then the town of Tubay would not only become a boom town but also a progressive town whose wise use of its natural resources would lead a life of prosperity.
Economic Development Profile
The role of Agusan del Norte in regional development is to promote crop production of domestic and commercial consumption as well as to promote agro-industrial development.
Tubay, as a predominantly agricultural town, supports this role due to its abundant supply of root crops, coconuts, bananas, and fish, which are traded in neighboring municipalities. The productions of these crops are limited in the backyard scale serving as cash crops to augment the livelihood of the farmers. If raised into a commercial scale, these crops will supply the province’s domestic need for these agricultural products. Its surplus will either be used as raw materials for other by-products or will be preserved to maintain their distinct features and be distributed throughout the region. The on-going reforestation activities of the denuded areas are expected to produce trees of commercial value.
Selective logging will be implemented to support the logging industry of the province. Aside from hard timber, Tubay will support the production of locally available construction materials with its voluminous supply of old coconut trees for coco lumber, pebbles, adobe, sand and gravel. The municipality will also be able to support the mining industry of the region with its metallic and non-metallic deposits, which are partially explored.