Ozamiz City is predominantly an agricultural economy. But owing to its strategic location, a sheltered harbor and fairly well developed port, a network of roads leading to key places in Mindanao, it is now becoming a major trading and commercial center in this part of Mindanao.

It has potential for industrial development too. Its generally flat to gently sloping terrain makes some of its lands ideal for industrial use. Water and power supply is abundant. Maria Cristina Falls, the main source of hydroelectric power in Mindanao is just a few kilometers away.