Guam – The legislature held a confirmation hearing for three Guam Economic Development Authority board appointees Friday.
Arlene Bordallo, David John, and George Chiu all testified before the legislature saying that they want GEDA to begin focusing on innovative programs and new areas of economic development. They’re also willing to revisit the qualifying certificate program.
This is a program of tax breaks designed to entice investors to Guam to develop the island’s tourism industry. David John explained saying, “The Q.C. program helped launch a successful tourism industry but the program needs to be re-looked to determine how it can create new industries for our community.
It could create a strong third leg of our economic stool along with tourism and our military we can create a much stronger and diversified economy.” John also said that Guam’s location can be used to encourage U.S. corporations who conduct business in Asia to establish management centers on Guam.