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Subic Bay Freeport is in Region III (or Central Luzon Region) of the Philippines. It is one of the points in the growth triangle (and an engine for economic development) in the region. SBF is a supplier of services and products for the Central Luzon Development Program, a regional growth area composed of the provinces of Bulacan, Nueva Ecija, Tarlac, Pampanga, Bataan, and Zambales.
Subic Bay is surrounded by the town of Subic and Olongapo City, both in the province of Zambales. Development of Olongapo City was largely tied to the presence of the United States Navy base at Subic Bay, once the largest U.S. military naval base in Asia. An arsenal and ship-repair facility was established at Subic Bay in 1885 by the then colonial power, Spain. Following the Spanish-American war, Subic Bay became a U.S. Navy and Marine base, and grew to be a major facility. Until 1991, it was the base of the United States 7th Fleet.
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Surprisingly the departure of the Americans did not spell doom. Subic Bay was converted into a commercial zone largely through the efforts of some 8,000 residents of nearby Olongapo City, under the leadership of their mayor, Richard Gordon, who volunteered to protect and preserve 8 billion dollars worth of facilities and property from looting and destruction. Subic has since been transformed and became a model for bases conversion into commercial use after the Cold War with blue chip companies like Coastal Petroleum, and Fed Ex pumping in over $3 billion of investments creating 70,000 jobs in the free port's first four years. It was host to the 4th APEC Leaders' Summit on November 24, 1996 and . FedEx's Asia-Pacific hub, Asia-One, was also located in Subic Bay for almost ten years.
In addition to commercial use, Subic Bay is also a popular destination for weekend visitors from Metro Manila. Attractions include several beaches, an underwater aquarium, jungle survival tours, racing and duty-free shopping centers.
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As a destination, Subic Bay has maintained its allure that once charmed US servicemen and their families. Its community continues to preserve and protect the bay, its surrounding forests and its flora and fauna. Interesting sights to see are its resident eco-tourism theme parks, the Ocean Adventure, the country's only open-sea marine park, Zoobic Safari, and the Pamulaklakin Nature Park which is home to the indigenous Aetas who once trained the U.S. Navy jungle survival tactics.