Valencia attained its city status after the ratification of Republic Act No. 8985 on January 12, 2001. The city is the most populous among all cities and municipalities, and the 6th largest in terms of area in the province of Bukidnon. It is also the most populous inland/landlocked city in Mindanao. It is the third largest city in Northern Mindanao in terms of population, after Cagayan de Oro and Iligan City respectively. The city serves as the center of trade and commerce in the province of Bukidnon.