Binalbagan is a 1st class municipality with an income of P 82,240,207.31 in 2007. Of this P 57,167,306 came from local sources, P 24,438,138.45 came from local sources and the remaining P 634,762.26 is from other sources. Major economic activities include manufacturing, agriculture, services, cottage industries and tourism.
The economic base of the municipality is agriculture. The Municipality of Binalbagan has an agricultural land area of 8,895.43 hectares. This comprises approximately 43.66% of its total land area. The main crops are sugar cane, rice, corn, fruit trees, root crops and vegetables. Sugar cane covers 3,560 hectares (40.02%) of agricultural lands while rice is planted in 1,087.43 hectares (12.22%) of agricultural lands. Fishponds and prawn farm occupy 284 hectares (3.19%) while swamps occupy 90.00 hectares (0.90%). The remaining 3884.00 hectares (43.66%) of agricultural land is allocated to other crops.
Binalbagan is the home of the BINALBAGAN-ISABELA SUGAR COMPANY (BISCOM). Located in a 67.36 hectare of land within the poblacion, the sugar central provides milling services to planters within and outside the 5th District of Negros Occidental. It has the reputation of being one of the oldest sugar mills in the country. Since its founding, BISCOM has been a major force in the economic growth of the municipality employing thousands of workers of the sugar industry as well as fostering the underground economy and contributing towards the development of business community.
The garment industry in the province developed in the late seventies with such companies as Golden Needles, Baby J’s and JR Garments exporting children and women’s wear. Presently the municipality has a large number of skilled workers in knitting and embroidery. Binalbagan is also the home of LISSI DOLLS, which exports quality dolls to Asia and other European countries. Other emerging industries include: woodcraft, bamboo craft, metal craft, candy making and food processing.
- 3 Public Markets
- Philippine National Bank
- New Rural Bank of Binalbagan, Inc.
- Nation Bank