"creating and designating certain parcel of land located at J. P. Laurel Avenue corner Angliongto Street, Lanang, Davao City, as an IT park pursuant to Republic Act No. 7916 as amended by Republic Act 8748."The IT Park at Damosa is seen as a boost to Davao's efforts in becoming a major player in the IT industry particularly in business process outsourcing.
The blog Davao Technopreneurship also mentions that Davao City Councilor Peter Laviña, chair of the committee on trade, commerce, and industry, believes that the IT park will boost the chances of this city's college graduates job opportunities.
Damosa's senior vice-president Ricardo Floirendo mentioned that they will initially invest 20,000,000 pesos on the first phase of the IT building.