VIDEO: Gov Speaks Candidly About Guam Economy to GCA

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Guam – During today’s swearing in ceremony for the new board of the Guam Contractors Association Governor Eddie Calvo gave a rather frank speech on the island’s economy saying that he will press the feds into getting the military buildup moving and push for a China Visa waiver program something he referred to as low hanging fruit.

 

 

 

After swearing in the new members of the Guam Contractors Association board which includes newly elected chairman Bob Salas, Governor Eddie Calvo opened up to the group of contractors about the fate of the island economy. “What can I tell you folks about the future well after coming from the rating agencies and visits to San Francisco and some of the issues in places such as California I can tell you and you all know things aren’t rosy over here but they sure aren’t rosy in many other places in the united states and in the world,” said Governor Calvo.

 The governor told members he will speak with undersecretary Robert Work about his meetings with the House Armed Services Committee and the Senate Armed Services Committee about the military buildup funding that has been put on freeze. “We will be either getting some good news in a week or two or some not so good news but we’re going to have to continue to press and we can’t just wait for this military buildup we’ve gotta seize the moment we’ve got to see what we’ve got now and fully exploit the opportunities we have now,” said Governor Calvo.

 Currently there are close to $200 million in highway projects, $55 million in hot bond money for the Guam museum and infrastructure in Tumon, $200 million in bond money for infrastructure, $50 million in funding for improvements at the port, $20 million in airforce projects, and $60 million in ARRA funding, “Ladies and gentlemen half a billion dollars in construction is not enough a year we get three quarters of a billion to a billion dollars in construction and that will be the impetus and the engine for getting this economy heated up again,” said Governor Calvo adding, “I’m going to continue and our administration working together with the legislature to put pressure on the department of the navy and to put some pressures also in the house and senate to ensure we can get this marine buildup moving along.”

 The governor said he would also push for the china visa waiver something he called a game changer for the island economy. “This thing I consider as low hanging fruit because all it takes for parole visa waiver is unilateral action by Janet Napolitano of Homeland Security,” said Calvo. The governor made it clear to the member of the GCA that he understands that the key to Guam’s economy is getting the construction industry and real estate industries going.