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The PHIVIDEC Industrial Auhtority (PHIVIDEC IA) was created on August 13, 1974 through Presidential Decree No. 538, as amended, to carry out the policy of the Government to encourage, promote and sustain the economic and social growth of the country. Likewisde, it created the PHIVIDEC Industrial Areas which shall be proclaimed, designated and specified by Presidential Proclamations.

The 3,000-hectare PHIVIDEC Industrial Estate in Misamis Oriental (PIE-MO), covering 13 barangays in the Municipalities of Tagoloan and Villanueva, is the first Industrial Area that is embarked for the PHIVIDEC IA.