Hagåtña, Guam – The Leon Guerrero-Tenorio Administration encourages stakeholders to participate in updating the Guam Comprehensive Economic Development Strategy (CEDS) 2020-2025 from March 8 to March 11, 2022. CEDS is a Guam-based, strategy-driven economic development plan and report designed to raise local resiliency and expand capacity for economic prosperity. The Guam Economic Development Authority (GEDA) and partners remain regularly engaged in updating the strategy to foster Guam’s economic recovery and stability. CEDS stakeholder meetings to include village mayors, businesses, non-profit organizations, aquaculture, agriculture and fisheries partners, educational institutions, and various government agencies will begin on Tuesday, March 8, 2022.
“As we begin a strategic and gradual lifting of restrictions, our people’s collective progress is advancing our island towards economic recovery and growth,” said Governor Lou Leon Guerrero. “With forward-thinking strategies, we are finding the best path forward for Guam. Despite the pandemic’s impacts to our top-performing industries, we are building a more diverse, higher-quality economy that will uplift generations to come. The participation of stakeholders in this critical endeavor will help us engineer the sustainability and security of our future.”
“The last report in 2020 yielded over $20 million in funding for projects that included the University of Guam School of Health expansion, Village Green Markets project, Ordot Chalan Pago Multi-Purpose Center renovation, and hospital feasibility study,” said Lt. Governor Josh Tenorio. “We encourage all stakeholders to contribute projects that will revitalize local industry and reinforce our road to recovery. The projects approved help strengthen Guam’s federal grant applications and provide us a priority list of investments we will make for our community.”
The region is required to execute a comprehensive update to CEDS every five years. Stakeholders are encouraged to submit updates on existing projects identified in the CEDS 2020-2025 or propose new projects that support the economic recovery of the island. Potential project proposals may include developing local infrastructure, encouraging economic diversification, establishing potential new industries, expanding workforce development opportunities, or fostering cultural and sustainable management of natural resources. CEDS stakeholders include village mayors, businesses, non-profit organizations, aquaculture, agriculture and fisheries partners, educational institutions, and various government agencies.
“The priority of the Leon Guerrero-Tenorio Administration remains to build a diverse, resilient economy. Over $20 million in approved funding for these projects demonstrate CEDS effectiveness and continue to create avenues for new resources to strengthen economic stability, expand local industries and support critical infrastructure for Guam,” said GEDA CEO/Administrator Melanie Mendiola. “We thank our stakeholders for their continued participation as we work together to revise existing priorities and identify additional opportunities to bolster Guam’s long-term growth.”
CEDS project forms are available for download at investguam.com. To participate in GEDA’s Virtual CEDS stakeholder meetings or for more information, contact Tria Paulino at tria.pautria.paulino@investguam.com or call (671) 647-4332.
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