Commerce and Trade

There are 463 registered businesses from the tertiary sector in 2016 which are engaged in trade, transportation, finance and business service, and community, social and personal services. Majority of these establishments are wholesale and retail stores selling various kinds of merchandise including meat, fish and vegetable dealers. There are also service shops, eateries, bakeries, food processors, drugstores, and amusement centers and video shops. Buying stations are found along M. L. Quezon Street where copra, palay and abaca are traded. Agricultural supplies, automotive parts dealers, appliance dealers and gasoline/refilling stations are also thriving. Trading and business transaction in Irosin are concentrated mainly at the Central Business District (CBD) in the town center. The highlights of CBD are the Irosin Public Market, Municipal Hall, Public Auditorium and the line of commercial establishments where commodity trading stations, wholesale and retail variety stores, banks and service shops are found. Presently, a commercial strip is growing from the corner of J. P. Rizal and M. L. Quezon Streets stretching all the way to the Maharlika Highway.

The financial institutions in Irosin are the Land Bank of the Philippines, Rural Bank of Irosin, East-West Rural Bank, Camalig Bank, Card Bank and Rural Bank of Guinobatan. The Land Bank of the Philippines-Irosin Branch caters to a wide range of customers from local government units, cooperatives as well as commercial and industrial establishments from micro to large enterprises. The bank likewise accept savings, current and time deposits and foreign currency exchange particularly dollar and serves as a collecting agency of the Bureau of Internal Revenue (BIR), Social Security System (SSS) and Philippine Health Insurance. There are also many microfinancing institutions in Irosin namely ARDCI NGO Group, ASA Philippines Foundation, Equalshare Credit Corporation, First Consolidate Bank, First Inner Trade Credit Corporation as well as cooperatives offering financing services.

The increasing population in the rural barangays led to the setting up of barangays centers where public markets, chapel, health centers, barangay halls and multi-purpose pavements are normally clustered. Such centers are located in the barangays of Gabao, Batang, Monbon, Patag and Gulang-Gulang. Of the convergence areas Gabao is the most progressive.




Tourism

Irosin has many potential tourist spots varying from natural parks, hot and cold springs, viewing areas and historical landmark.  The famous tourism attractions in the municipality are the Mateo Hot and Cold Spring Resort, St. Michael Archangel Roman Catholic Hilltop Church and protected areas. The Bolos Crystal Spring and the Valley View Park where eateries, kiosks and parking spaces were set up had become a rest area for truckers and travelers plying the Maharlika Highway. Another potential tourist attraction is the Mapaso mineral hot spring famous for its purported healing qualities. Irosin is an ideal jump-off site for mountaineering and ecological trek that is becoming popular among tourists both foreign and local. The municipality is an entry and exit area to BVNP one of the remaining tropical forests and is a protected area in the Bicol Region. Mount Jormajam and Mount Mara-ot Banwa are the other alternative places for mountaineering and ecological trekking.

There are also a number of tourist accommodations and facilities in Irosin. The Mateo Hot and Cold Springs Resort have conference halls, dormitories, cottages, eatery and swimming pools ideal for rest and recreation, conference and seminars. There is also the Guest World Resort and Nature Spring Resort with pools and accommodations. There are other lodging houses such as Villa Lim Condominium and Saint Michael Lodging House. Restaurants, snack bars and eateries are found along the CBD and inside the Irosin Public Market.

The most common cultural activities in the municipality are the annual santacruzan, barangay fiestas and town fiesta where Paray Festival is showcased. The Paray Festival in September culminates with the street play Viva San Miguel, celebrated in honor of Saint Michael Archangel, the patron saint of Irosin.

The local tourism industry has a great potential since ecological tourism is the trend worldwide and the national government intends to develop Bicol as a major hub for tourists. Given the variety of natural tourist spots in the municipality and its strategic location, Irosin can be a convergence area of foreign and domestic tourists and visitors.




Investment Potentials

The investment potentials in Irosin that are agriculture-based are agri-business ventures like rice, coconut and commercial crops production as well as hog and poultry farms. Tree farming is also encouraged in mountainous areas and steep slopes 18% and above. Agricultural products processing namely rice milling, cereal processing, meat processing, vegetable and fruit processing, coconut processing including its by-products, and organic fertilizer production are investment priority areas. Miscellaneous manufacturing like garments, handicrafts, metal crafts, assemblers of jeepney and tricycle body, hand tractors and threshers and building components are encouraged. Subdivision and housing development, memorial parks and resorts and ecological tourism facilities development are feasible ventures. Investments in the establishment and operation of bonded and other kinds of warehouse, integrated public transport terminal and recreation and amusement centers are promising.




Imndustry and Services

Secondary Sector

Industries in Irosin are primarily agriculture-based. In 2009, there are only 14 registered establishments belong to the secondary sector where nine are rice mills, two are engaged in construction, an organic fertilizer center, a furniture manufacturer and a coco-fiber stitching plant. A number of home-based food and meat processors producing pili nut candies, local sausages and meat preserves are also noted. Most of the existing local industries are light and generate non-hazardous wastes. Few handicraft producers still thrive while a number already closed shop due to a significant decrease in foreign demand, economic slowdown and the scarcity of raw materials.

Tertiary Sector

There are 285 registered businesses from the tertiary sector in 2009 which are engaged in trade, transportation, finance and business service, and community, social and personal services. Majority of these establishments are wholesale and retail stores selling various kinds of merchandise. Meat, fish and vegetable dealers rank second in terms of number. There are also service shops, eateries, bakeries, food processors, drugstores, and amusement centers and video shops. Buying stations are found along M. L. Quezon Street where copra, palay and abaca are traded. Agricultural supplies, automotive parts dealers, appliance dealers and gasoline/refilling stations are also thriving.

Trading and business transaction in Irosin are concentrated mainly at the Central Business District (CBD) in the town center. The highlights of CBD are the Irosin Public Market, Municipal Hall, Public Auditorium and the line of commercial establishments where commodity trading stations, wholesale and retail variety stores, banks and service shops are found. Presently, a commercial strip is growing from the corner of J. P. Rizal and M. L. Quezon Streets stretching all the way to the Maharlika Highway.

The financial institutions in Irosin are the Rural Bank of Irosin (RBI), a branch of Land Bank of the Philippines (LBP), Camalig Rural Bank, Guinobatan Rural Bank, Cebuana Lhuiller Pawnshop, Tambunting Pawnshop, and Irosin Market Vendors and Farmers Development Cooperative (IMVEFADECO). The Land Bank of the Philippines-Irosin Branch caters to a wide range of customers from local government units, cooperatives as well as commercial and industrial establishments from micro to large enterprises. The bank likewise accept savings, current and time deposits and foreign currency exchange particularly dollar and serves as a collecting agency of the Bureau of Internal Revenue (BIR), Social Security System (SSS) and Philippine Health Insurance. The Rural Bank of Irosin on the other hand offers production loan to farmers and livestock raiser, business financing to market vendors, retailers and service enterprises it also accepts savings and time deposit.

The increasing population in the rural barangays led to the setting up of barangays centers where public markets, chapel, health centers, barangay halls and multi-purpose pavements are normally clustered. Such centers are located in the barangays of Gabao, Batang, Monbon, Patag and Gulang-Gulang. Of the convergence areas Gabao is the most progressive.




Agriculture

The local economy of Irosin is basically agricultural. About 46% of gainful workers rely on crop production and farm labor for livelihood and sustenance. Agricultural lands comprise 79% of the total land area of the municipality or an approximate area of 11,715 hectares. Coconut occupies about 79% of the total agricultural lands, followed by palay at 18%, while other crops occupies only 3%. The total peso-value of the agricultural crop production in 2013 is estimated to be P 553,384,044.

Palay, the staple food of many Filipinos is the primary crop being produced constituting 39% of the total peso-value of the total agricultural crop production. In 2013, a total of 15,874.93 metric tons of palay was produced where the average yield per hectare per year is 7,640 kilograms. The supply of palay is sufficient enough to meet the demand of the population with surplus being shipped-out and sold to neighboring municipalities and even reaches as the islands of Samar and Masbate.

Coconut, the local commercial export crop, rank second in terms of volume produced. Coconut constitutes 24.94% of the total estimated peso-value of the entire agricultural crops produced and the yield is estimated at 9,202 metric tons of copra in 2013. Banana and pili rank third and fourth in terms of peso-value with 17.84% and 8.04% of the total peso-value of total crop production. The local production of vegetables and legumes is estimated at 6,066 metric tons while the root crop production is at 384 metric tons in 2013.

Various support infrastructures to agriculture are in place catering to the needs of farmers and agricultural workers. Agricultural farms facilities are mostly for palay production. These include hand tractors, sprayers, irrigation system, solar and mechanical dryers, threshers, rice mills and storage facilities, and farm-to-market roads.

Poultry and livestock are secondary sources of income of most farming families in Irosin. Swine and chicken whether native or hybrid is raised by more families compared to the other species of livestock and fowls. Swine are usually grown in the backyard for very small-scale commercial purposes with breeding stocks ranging from 2 to less than 7 breeders. The present cattle population in the municipality is still very miniscule. Carabaos are usually raised and utilized for farm labor as substitute to tractors but there are those who sell carabaos to traders. Native and hybrid chicken are either raised for household consumption or sold in the neighborhood or in the market whenever the family is in need of additional cash. Few families raise goats and other domestic food animals either for commercial or domestic consumptions. The total peso-value of livestock and poultry production in 2013 is estimated at P 37,337,950. There were 3,709 swine, 24,323 chickens, 5,471 ducks, 584 carabaos, 327 goats and 110 cattle produced.