An Economic Enterprise Department (EED) was established in 1992 comprising the Mambucal Resort and Lodge,  Negros Occidental Barangay Center (NOBC) Hostel and Food Services, Food Terminal Market, and Talisay Dormitory.  In 2000 EED was abolished, with Mambucal being leased to Negros Island Development Corporation (NIDCOR), the Talisay Dormitory donated to the Technological University of the Philippines (TUP-V) in Talisay City, the Food Terminal Market and the NOBC Hostel placed under the Provincial Treasurer's Office, while EED personnel were transferred to various departments and offices of the province. The contract of lease of Mambucal Resort between the province and NIDCOR was terminated in 2002, with the province paying NIDCOR the amount it spent for development.

Executive Order No. 08-17, series of 2002 was issued, creating an Ad Hoc Committee on Economic Enterprise, chaired by Atty. Beethoven Fuentespina. The function of the committee was to conduct a study and make recommendations on the viability and feasibility of Economic Enterprise, determine areas to be classified as income-generating, and formulate the organizational structure and budgetary requirements. On November 19, 2002 Gov. Joseph G. Maraņon sent a letter to the Sangguniang Panlalawigan requesting for a resolution authorizing the Governor to create an Economic Enterprise Development  Department. On November 20, 2002 the Ad Hoc Committee submitted its final committee report recommending for the creation on an Economic Enterprise Development  Department (EEDD).

On January 22, 2003 a committee meeting was conducted by Sangguniang Panlalawigan (SP) Member Ike Barredo, Chair of the SP Committee on Livelihood and Cooperative and Personnel and Labor regarding the establishment of an EEDD. The EEDD was created on March 19, 2003 through the passage of SP Ordinance No. 005-2003, with SP Member Ike Barredo as its main author, and approved by Gov. Joseph G. Maraņon on the same date. The EEDD started operating on January 2004 with Mr. Enrique S. Pinongan, who was then Provincial Treasurer, acting as the first Department Head until April 2004. Atty. Japhet T. Masculino, who currently heads the EEDD, was the first appointed head of the department.

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