Economy in a society involves the production and distribution of resources and consumption of goods and services in a society. There is interrelated economic production and consumption of resources through technological evolution and other factors of society that may affect it.
Agriculture
Agriculture has always been the main economic base of almost all towns of Ilocos Norte including Marcos. The municipality has a total land area of 3,253 hectares of cropland. These areas are all planted to rice for the main cropping season and planted to other crops including rice for the second cropping season. The major crops planted are rice, corn, tobacco and high value commercial cops. Rice, corn &HVCC are crops planted in all 13 barangays while tobacco is only planted in the rain fed barangays namely; Fortuna, Imelda, Lydia & Mabuti. Rice as the major product produced at about 6.2 MT average per hectare and the production and value of other crops are given in. Livestock production in the municipality is mainly raised in backyard and sold locally. River and fishponds serves as fishing ground of the residents as Marcos is blessed with natural resources.
Municipality of Marcos has a total area of 3,253 hectares from 13 barangays. Rice production has a total volume of 20,298.87 MT with an average yield of 6.24 metric tons per hectare. The value of production is Php 385,678,530.00 which has an average price per kilogram of Php19.00. The rice produced was marketed to traders in the locality. The number of rice farmers is 2,646 which 43% of it are tenants and with an average area of 0.8 hectare per farmer. Modern technology using different pre and post- harvest facilities and traditional was being used in rice farming. The municipality of Marcos is a Low hazard susceptibility to Tropical cyclone and Earthquake. Barangays along the Padsan River has a moderate flood susceptibility while five barangays in the western part of the municipality has highly susceptible to Drought and two barangays are moderately susceptible in landslide.
The municipality has a total 431 hectares and production of 2,456.70 metric tons of yellow corn. The value of production is Php 31,445,760.00 which has an average price of Php 12.80 per kilo. Most numbered area engage in corn farming are those with irrigated facilities. 89% of yellow corn growers are tenants and all are using modern and traditional ways of corn farming to increase productivity.
White corn shares 52.4 hectares in the total agriculture area with a total farmer of 255 which 90% are tenants. White corn has an average production of 4.0 metric tons per hectare and with production value of Php 24.00 per kilo.
The existing data of High Value commercial Crops with a total land area of 271.5 hectares. HVCC includes vegetables, legumes and fruit bearing trees grown in the municipality. HVCC growers markets their products within and outside the municipality.
Marcos has four barangays composed of 286 farmers engaged in tobacco growing with an area of 123.4 hectares. Farmers are using the modern technology way of farming in tobacco growing and traditional at post-harvest using the Curing barn. Tobacco has a production volume of 248.03 metric tons with an average yield of 2.1 metric tons per hectare with a value of Php19, 072,265.93 which equivalent to Php 76.89 per kilo. Tobacco produced was sold to different traders outside the municipality.
Commerce
The Municipality of Marcos, Ilocos Norte, is situated between three (3) commercialized municipalities, Dingras, Solsona and Banna. These three (3) municipalities centralized their trade and business operation on their own farm produce. Varied commerce and trade operations also abound. This present situation paved a slow turtle growth for commerce and trade in the municipality.
The DILG DTI JMC 01, series of 2010 streamlined the process/procedure for business permitting and licensing system and which gave way to the creation of Joint Inspection Team, it capacitated the Business Permits and Licensing office and the establishment of an operational Business One-Stop Shop.
With this present set-up and with ISO procedures not to mention the Citizen’s Charter, it paved the way to a friendly, fast and responsive business permitting and licensing.
In 2016, Business Permits issued total to 441. For business permits that fall on primary accounts to 3% or those engaged in agriculture and mining, Secondary is 4% or those engaged in construction and manufacturing. About 93% account to tertiary or those engaged in wholesale, and retail of goods and services and transport business.
On 2016 the total business tax collection amounts to Php 814,600.30. 2016 manifested 125% increase while 2015 has 123% increase. On employment, 2016 has a total of 528 employees, while 2015 was able to employ 493.
Industry
Industries in the municipality of Marcos are home based or mostly light industries that are not pollutive and hazardous. The existing capital is very low such that expansion is also low. The community utilizes the available raw material present in the area. The problem on pollution caused by industries is not yet detrimental in the community.
Since agriculture is the major source of livelihood of the people, expansion for agro-industrialization is a great opportunity. Farm produce from the municipality shall like rice, corn. And wide variety of vegetables, manufacturing or processing industries can be developed. Research and further studies may help the enhancement of the products to be manufactured in large quantity by some residents.
The Municipality’s area covered by industrial establishments increase since there is an increase on the number of establishments each year. There are 54 industrial establishments mostly ricemill, bakery, furniture shops, auto repair shops, hollow blocks making, and construction supply.
Tourism
Tourism industry is not considered as the source of income of the residents. Because of the limited and underdeveloped tourism facilities in town, the income from tourism is very minimal. Although the town is blessed with natural resources, the development of such tourist spots is still a great need. Promotion of this potential tourist spots is also essential. The town also has limited commercial establishments, accommodation facilities and recreational centers that may cater the need of tourist that will come in town.
Since the town is mostly agricultural, the development of agro-tourism, culinary and, eco-tourism and health and wellness can be made to enhance tourism industry in town.